Intel has announced the release of the Blockscale ASIC, a second-generation BTC mining chip that the company will use to increase its mining speed and efficiency.

Mining Chip To Increase Efficiency 

As announced on Monday, the latest mining chip will provide more efficiency in energy usage. Also, the company has stated that the chips will be on sale beginning from the Q3 of the year.

The new semiconductor comes with a specialized secure Hash Algorithm-256 (SHA-256) ASIC processor. The processor has a rate of over 580 GH/S while the power efficiency is over 26J/TH. It also boasts of a voltage and temperature monitor and supports about 256 integrated circuits in a single chain.

The issue of power, which has been a serious concern in the past months, will be alleviated for some time. Jose Rios, the manager of Blockchain and Business Solutions for the Accelerated Computing Systems and Graphics Group at Intel company, reacted to the news. He stated that “The Intel Blockscale ASIC will play a significant role in assisting BTC mining enterprises achieve both conservation and increased hash rate targets in the coming years,” Rios noted. Increasing the hash rate while also reducing power consumption will help boost the mining operations of this company.

Several Mining Companies Show Interest

Following the release, GRID Infrastructure, Block Inc., Argo Blockchain, and Hive Blockchain Technologies are among the firms that have already shown interest in purchasing the latest chip that will boost mining efficiency. 

Bonanza Mine, the 1st generation chip which Intel produced, was its first product launched into the mining industry. The chip received significant adoption and has pushed companies to upgrade its capabilities.

Balaji Kanigicherla, the manager and vice president in charge of custom computing under the computing system and graphic group, reacted to the latest chip. He stated that the company’s years of research and innovation development in the aerospace of hashing techniques, cryptography, and low voltage circuits have made it possible for applications that use Blockchain technology to increase their computing ability without affecting its efficiency.

Mining cryptocurrency has become a huge industry in the crypto industry as several countries are joining the bandwagon of crypto miners in different parts of the world. The major challenge faced by these entities has been power supply, mining hash rate, and efficiency. The introduction of mining chips that are capable of alleviating these problems has been extensively accepted. 

Recently, there has been an outcry for the BTC’s proof-of-work protocol to be changed to reduce its power consumption. Cryptos like Cardano, which use the proof-of-stake protocol, are becoming popular and gaining massive usage.