Intel To Enter The Cryptocurrency Mining Market.

In February, Intel will introduce its ‘Bonanza Mine’ ASIC processor. The chipmaker is also planning to release its first separate graphics cards. Bitcoin mining hash rates have completely recovered and have reached a new all-time high.

Intel, the international technology company, will present its “Bonanza Mine” processor at the International Solid-State Circuits Conference (ISSCC), which begins on February 20.

The technology giant’s presentation is planned under the “Highlighted Chip Releases” category and will reveal the new chip, which has been billed as a “ultra-low voltage energy-efficient Bitcoin mining ASIC.”

ASIC stands for application-specific integrated circuits, which are well-suited to the number-crunching necessary in cryptocurrency mining.

Intel’s entry into crypto mining implies that it may soon be competing with companies like Bitmain. An Intel official told the tech news site Tom’s Hardware:

“Intel has done design work around SHA-256 optimized ASICs for several years beginning with pathfinding work done in Intel Labs. We will share more details in the future.”

Raja Koduri, the head of graphics processors, revealed in a late December live broadcast that the business was working on specialist crypto-mining hardware and technology. Koduri said that the new chip will be distinct from graphics processors (GPUs), which “will do graphics, gaming, and all those wonderful things.”

The business is already well on its way to developing new mining-specific CPUs. According to Tom’s, the company patented an unique processing system in 2018 that employs an efficient SHA-256 cryptographic data channel for high-performance Bitcoin mining.

Gamers are already suffering at the hands of cryptocurrency miners due to a global scarcity of graphics cards, which has been exacerbated in part by the COVID-19 outbreak. In several countries, a second-hand market for GPUs has formed, with three-year-old graphics cards now costing more than they did when new.

Intel, which disclosed a $780,000 stake in Coinbase shares last year, will launch its first line of discrete gaming graphics cards, named Intel Arc Alchemist, later this year, competing with Nvidia and AMD in a field that desperately needs new participants.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Patrick

Coincu News