Intel Enters The Crypto Space With Blockchain Accelerator Program

Intel enters the crypto space by launching a blockchain accelerator program and it seems now that its efforts are mainly focused on improving GPUs and mining so let’s read furhter in today’s latest blockchain news.

Raja Koduri who is the senior vice president of accelerated computing systems and graphics group at Intel noted that their intent to contribute to the development of blockchain technologies will start with the introduction of energy-efficient mining accelerators which will be released this year. Intel already announced that it will unveil the next generation of Application-specific integrated Circuit mining machines during the next International Solid-State Circuits Conferences later this month.

The company will be a form of new international Solid-state circuit conference within the Koduri’s division and it will also be responsible for building custom silicon platforms for optimizing the blockchain mining activities and the design of supercomputers. The company also believes that the circuit innovations will deliver a blockchain accelerator that has 1000 times better performance per watt of energy used per units time rather than the mainstream GPUs used to mine blockchain networks and utilize SHA-256 encryption. As Intel enter the crypto space, it noted:

“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 to have minimal impact on the supply of current products.”

Intel had an odd and low-profile relationship with crypto over the years. The difficulty of mining BTC increased to the point that the ASICs are required over GPUs for a chance at profitability. As for ETH mining, AMD and NVIDIA dominate the space with their GPUs sold en masse to the miners. Before unveiling its BTC mining hardware, Intel had not seen much action in the crypto space aside from taking a smaller stake in Coinbase in 2021.

As recently reported, Intel will present its low-voltage BTC mining chips next month dubbed “Bonanza Mine” chip that will provide energy-efficient BTC mining. At present, little is known about the chip or about the plans for it. The details about the chip emerged from the International Solid-State Circuits Conference program schedule. The ISSCC program is an industry-specific event that runs for eight days in February.