Friday, March 29

Intel already has orders for its Bitcoin mining ASIC


[***]A few days after the revelation that Intel is producing an ASIC, Bitcoin mining hardware, new news about this endeavor begins to emerge.

[***]According to information from Fox Business, the American mining company GRIID has already ordered equipment from Intel. As shown by a document, this contract has been in effect since September of last year, and could last for years.

[***]With the arrival of its ASICs and graphics cards, the point is that Intel seems to have lost a lot of time in this race. However, the arrival of the chip giant could upset the competition if it delivers much superior hardware.

Bonanza Mine, Intel’s Bitcoin ASIC

[***]While there isn’t much information about Intel’s Bitcoin mining rig, it already has a name: Bonanza Mine. In addition, companies in the sector seem to have more information about this.

[***]After all, GRIID has already issued a supply agreement with Intel. In the document, the ASIC — Application Specific Integrated Circuit — is called BZM2, which fits perfectly with the name Bonanze Mine.

[***]“Our mining operations currently use application-specific integrated circuits (“ASICs”) manufactured by two leading companies, Bitmain and MicroBT. We recently entered into a supply agreement with Intel Corporation (“Intel”), which will provide an additional source of ASICs.”

[***]The same is confirmed by another document, which specifies that the BZM2 is actually already the second generation of this mining hardware. And that makes sense, after all, the company had already filed a patent application for such equipment in 2018.

[***]“’BZM2′ stands for [***], The […] second generation”

Document showing Intel ASIC purchase details. Source: Adit EdTech

[***]For now, the curiosity of Bitcoin mining enthusiasts is related to the performance of Bonanza Mine. In addition, the general public is also expected to be able to purchase such equipment.

Intel’s growth

[***]With a market capitalization of $218 billion, about 3.5 times smaller than Bitcoin (BTC), Intel’s entry into the mining industry could lift its share price.

[***]In addition to hardware focused exclusively on Bitcoin mining, which uses SHA-256, Intel is also exploring the graphics card (GPU) sector.

[***]Although it already works in the segment of integrated video processors, for a long time Intel ignored the dedicated processors, dominated by NVIDIA and AMD.

[***]In addition to gamers, the generation of GPUs called Alchemist will also attract miners, after all the company does not intend to limit the mining hash rate on its boards. However, it needs to hurry, after all the biggest coin mined by graphics cards, Ethereum, is on its way to migrate to Proof-of-Stake.





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