Intel is entering into the Cryptocurrency mining market soon

Virender Rakwal
Virender Rakwal
2 Min Read
  • Microchip giant Intel may soon lauch a chip for Bitcoin mining.
  • Intel is set to unveil it’s “Bonanza Mine” processor at the international Solid-State Circuits Conference(ISSCC) commencing on Feb 20.
  • Intel’s Presentation has been scheduled in the “Highlighted Chip Releases” category where it will detail in the new chip which has been described as an “ultra-low-voltage-energy-efficient Bitcoin mining ASIC.”

The Multinational Microchip technology gaint Intel could be about to enter the crypto and Bitcoin Mining hardware market delving into making mining more efficient and accessible is likely to help the price of Bitcoin by encouraging mass adoption.

Intel, one of the largest Microchip makers, said on jan 18. It will unveil an “ultra-low-voltage-energy-efficient Bitcoin mining ASIC.” Which will be a more efficient specialized mining computer, competiting with current miners that are in the Market.

The Microchip giant said its new miner will reduce power consumption by 15% adding such an increase in efficiency in Bitcoin mining will help more instituitional investors to enter the sector as ESG(environmental, social and governance) is the one of the key investment priorities. If such scenario happens. It wil surely helps support in Bitcoin Price.

Intel’s foray into crypto mining means that it could soon be competing with the likes of Bitman. Speaking to tech news outlet Tom’s Hardware, an Intel Spokesperson said to media that:

Intel has already done design work aroun SHA-256 optimized ASICS for several years beginning with pathfinding work done in Intel labs. We will share more details in future.

Share this Article
Posted by Virender Rakwal
Follow:
Ceo/ Founder at XryptoNation. Senior Web Developer, Blockchain Expert.
Leave a comment