TL;DR Breakdown:
- Intel is reportedly releasing a specialized Bitcoin mining chip.
- It will be an ultra-low-voltage and energy-efficient mining chip.
- Intel has also formed a partnership with carbon-free BTC mining startup GRID.
Intel, one of the largest computer chip manufacturers in the world is rumoured to launch a specialized Bitcoin mining chip at its next conference. The recently released conference agenda of Intel highlights an upcoming chip titled “Bonanza Mine: An Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC”. More details including its specs will be unveiled on Feb 23 at the annual ISSCC conference.
With this potential release, Intel will directly compete with MicroBT and Bitmain in the bitcoin mining industry. Recently Nvidia has been struggling to keep up with the growing demands of the miners. The limited supply is driving the prices of NVIDIA graphics cards. Intel’s new chip will help to fulfil this large gap in the mining market.
Unlike NVIDIA, Intel won’t set any mining limits on its graphic units. Based on the rumoured specs, it’s assumed that Intel’s new chip won’t have any hashrate limits, and it will also support a more sustainable and energy-efficient approach to mining.
Intel and GRID can lead the way for “Green” Bitcoin mining
Intel is marketing this new chip in ultra-low voltage, which will transform the BTC mining industry. The biggest concern with Bitcoin mining is still environmental damage. These concerns have pulled the leading crypto away from Tesla last year.
If Intel’s claims are true, these concerns will be reduced to some extent. The company has also partnered with GRID, a BTC mining startup that focuses on carbon-free mining. This partnership can allow Intel to address the biggest concern in the current mining industry. A more eco-friendly approach to mining can help crypto investors to meet their governance goals and CSR.
