Intel Officially Enters Bitcoin Mining Market

Intel Officially Enters Bitcoin Mining Market

Intel will enter the blockchain technology sector, specifically in the creation of infrastructure. This year, it will introduce chips dedicated to ASIC rigs – those used, among other things, for bitcoin mining.

Intel will enter the crypto/photo market.  Manufacturer's materials
Intel will enter the crypto/photo market. Manufacturer’s materials

Intel has announced that it will introduce the energy-saving chips that will appear this year. The company noted that “some blockchains require massive computing power” and wanted to create the appropriate circuits. Those that provide great performance for blockchain-based services and will be energy efficient.


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Interestingly, Intel already has the first B2B customers to buy the right chips. These are Argo Blockchain, Block (formerly Square), and GRID Infrastructure.

New China has the business name Bonanza Mine. Responsible for its construction is the group of professionals created, the Custom Compute Group, which operates as part of the Accelerated Computing and Graphics Systems business unit under the leadership of seasoned engineer Raj Kodori.

The latest chipset features a specialized architecture that is designed to speed up processing of SHA-256 (Bitcoin Algorithm) in order to mine Bitcoin more efficiently at extremely low voltages. Intel says its energy-efficient chips will be “1,000 times better in performance/power consumption than mainstream GPUs used for SHA-256 mining.”

However, it should be noted here that GPUs are rarely used for bitcoin mining. They are usually mined into specialized processors called ASICs that are designed to perform this type of load. At the same time, ASIC miners like the popular Antimner E9 from Bitmain are often very expensive and hard to come by.

Intel’s entry into this market is a sign that Big Tech is increasingly focusing on blockchain. This is also good news for fans of cryptocurrency and this chip.

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