Intel’s Mining Chip Will Be 1000x Faster Than Others, Claims VP

Intel’s mining chip will be 1000x faster compared to the ones of the competitors, according to the VP Raja Koduri so let’s find out more today in our latest Bitcoin news.

Intel Corp announced the launch of energy-efficient super-fast processing chips for blockchain applications and according to Senior Vice President Raja Koduri, the new chip will be 1000 faster than its nearest rivals. The mining chips will be available to customers later this year. The official report by Koduri elaborates on the launch of the Intel BTC accelerator:

“Today, we at Intel are declaring our intent to contribute to the development of blockchain technologies, with a roadmap of energy-efficient accelerators. Intel will engage and promote an open and secure blockchain ecosystem and will help advance this technology in a responsible and sustainable way.”

Intel as the world’s second-biggest semiconductor chip maker TSMC scheduled a presentation under “Highlighted Chip Releases at the ISSCC conference. It presented an upcoming chip for the blockchain identity dubbed Bonanza Mine processor and described it as an ultra-low voltage energy efficient BTC mining ASIC. Among the major clients that evinced interest in the new processor chip is Block Inc, formerly known as Square. Raja informed:

“Argo Blockchain, BLOCK (formerly known as Square), and GRIID Infrastructure are among our first customers for this upcoming product. This architecture is implemented on a tiny piece of silicon so that it has minimal impact to the supply of current products.”

The new Intel chip should be available for shipping later this year and promises to make BTC mining faster and more energy-efficient. Raja said:

“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.”

Intel’s foray into the blockchain space as an ap provider of quick processing capacity can attract even more players into the field of crypto mining. Jack Dorsey’s Block confirmed that it is working to bring on a stream of new BTC mining systems intended for at-home use. Intel’s entry into the blockchain space as a scalability provider will face heavy competition from MicroBTC which is a well-knwon provider of BTC mining hardware products and Bitmain.