Intel Launches Blockchain Chip to Further Boost Crypto Mining

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With numerous crypto-miners using Intel chips for mining digital assets, Intel Corporation announced the launch of their new chip for mining Bitcoin and NFT minting.

Later this year, the chip will be shipped to their first customers including American Company GRIID Infrastructures, Block Inc., the Jack Dorsey-led firm formerly called Square, and London-listed crypto mining company, Argo Blockchain.

Intel said its chip is an “energy-efficient accelerator” designed to speed up blockchain tasks that require huge amounts of computing power and in the process consume a lot of energy. (Read More: Nvidia Announces Crypto Mining Rigs (Feb. 19, 2021))

As stated by Raja M. Koduri, Intel’s Senior Vice President and General Manager, “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.” 

“We are mindful that some blockchains require an enormous amount of computing power, which unfortunately translates to an immense amount of energy. Our customers are asking for scalable and sustainable solutions, which is why we are focusing our efforts on realizing the full potential of blockchain by developing the most energy-efficient computing technologies at scale”. 

Nvidia Corp, whose graphics cards are also used widely for crypto mining activities, also has a separate chip meant for Ethereum mining.

For more information: https://www.intel.com/content/www/us/en/newsroom/opinion/thoughts-blockchain-custom-compute-group.html#gs.p4vzq3

This article is published on BitPinas: Intel Launches Blockchain Chip to Further Boost Crypto Mining

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