Intel is to release a bitcoin mining chip in three months
Intel announced a new chip designed for bitcoin mining. It will appear on the market in the third quarter of 2022 under the Intel Blockscale ASIC name.
According to the company's press release, the Blockscale ASIC will provide hashing speeds of up to 580 GH/s with an energy efficiency of 26 J/TH. The chip will also feature a special ASIC processor with a secure hash-256 (SHA-256) algorithm, built-in temperature and voltage sensing features while also supporting up to 256 integrated circuits per chain. In addition, the chip will feature a software stack to speed up system development for customers. This will make it easier to set up mining farms.
"Momentum around blockchain continues to build. It is the enabler of decentralized and distributed computing, making way for innovative business models. To power this new era of computing, Intel is delivering solutions that can offer an optimal balance of hashing throughput and energy efficiency regardless of a customer’s operating environment. Intel’s decades of R&D in cryptography, hashing techniques and ultra-low voltage circuits make it possible for blockchain applications to scale their computing power without compromising on sustainability.” told Balaji Kanigicherla, Intel vice president and general manager of Custom Compute in the Accelerated Computing Systems and Graphics Group.
Mining: what it is, its types, and how to make money on it
There are different ways to make money on cryptocurrencies. Someone simply buys and sells cryptocurrencies on the market, earning income on the difference. Someone invests money in dedicated equipment and starts creating a cryptocurrency, i.e., to mine it. We will discuss the latter method in more detail, starting from the cheapest ways of mining to the most expensive ones.