Monday, December 4

Intel to Launch Bitcoin Mining Equipment

Intel, famous for its processors, announced that it is working on an ASIC — equipment used to mine Bitcoin — by the name of Bonanza Mine. The revelation took place during the ISSCC conference and was reported by Tom’s Hardware.

While it’s unclear whether the company will be marketing this product or just using it for testing purposes, it’s worth noting that Intel is also expanding into other markets such as graphics cards.

With this, we can expect Bitcoin mining activity to become more and more attractive to the common and decentralized user. After all, in addition to this, other giants like Block are also interested in the sector.

Intel Bitcoin Miner

With Bitcoin mining becoming more and more professional, it’s no wonder that a company the size of Intel would be interested in snapping up some of this market.

Intel’s announcement, made during the ISSCC conference, focused on the circuit industry, presented a device called the Bonanza Mine, being described as an “Ultra-Low Voltage Energy Efficient Bitcoin Mining ASIC”.

Intel ASIC Announcement. Source: ISSCC/Tom’s Hardware

Additionally, you can also see two numbers on the left — 21.3 — perhaps representing the date on which the mining rig will be announced to the public, i.e. March 21st.

Another company that is also breaking new ground is Block (formerly Square) by Jack Dorsey, the founder of Twitter. As a result, we can expect the sector to become less and less dependent on a few companies, in addition to encouraging competition between them.

Intel video cards

As for its graphics cards, Intel stated in October 2021 that it will not limit cryptocurrency mining. This practice was adopted by companies like NVIDIA through the cards called low mining power, or low hash rate (LHR).

With that, it is obvious that the chip giant is looking to expand its business and take advantage of the cryptocurrency sector that uses the Proof-of-Work (PoW) algorithm to mine.

Finally, this competition will be great for everyone, making all companies seek to deliver products that are more efficient in relation to the energy consumed, as well as at a lower price and in a more accessible way to the common user.