The new launch by Intel Corp is an astounding creation for the promotion of sustainability by keeping a keen eye on the environmental impact of mining and scalability by the launch of a new chip for blockchain applications and such as mining Bitcoin and minting NFTs.
In Brief:
- The crypto chip is an energy-efficient “accelerator” and is set to ship later this year.
- Block and GRIID Infra are two of the early customers of the company.
- Expect for the chip to have 1000 times better ppw than mainstream GPUs, claims Intel.
Claiming its first crypto-focused chip as a “blockchain accelerator” Intel says that it is “energy efficient” and is designed to speed up blockchain tasks – requiring huge amounts of computing power and thereby consuming a lot of energy.
“We expect that our circuit innovations will deliver a blockchain accelerator that has over 1000x better performance per watt than mainstream GPUs for SHA-256 based mining,” Raja Koduri, Intel’s senior vice president says in the announcement.
GRIID Infrastructures, a Bitcoin mining company, and Block, the Jack Dorsey-owned fintech company formerly known as Square, have both preordered the technology and will be shipped later in the year.
As reported by Reuters, Nvidia Corp, a chip designer whose graphics cards are widely used in mining activities, also has a separate chip designed for Ethereum mining.
More details about the chip will be revealed at the International Solid-State Circuits Conference, which begins on February 20th. The company showed a green flag about the chip to tap the crypto boom, early this year defining the new “Bonanza Mine” chip as an “ultra-low-voltage energy-efficient Bitcoin mining ASIC.”
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