Intel Launches 2nd Generation BTC Mining Chip

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.

Leave a Reply

Your email address will not be published.

Related

ECB’s President, Christine Lagarde, Says Crypto Assets Have No Worth

In an interview, Christine Lagarde, the head of the European Central Bank, made it quite plain where she stands concerning the value of digital assets. Head Of ECB Label Cryptos As Worthless According to a survey by Politico, the head of the ECB noted her position on crypto. The ECB head stated that digital assets […]

UK Regulators are Investigating Terra’s Fiasco and Considering Crypto Rules

UK cryptocurrency market regulators are currently investigating Terra’s plunge. It began amid the recent cryptocurrency market massacre. The leading cryptocurrency in the market, BTC, fell as low as $26,000 during the market downturn. At the same time, Terra fell by about 100%. Terra’s Meltdown Under Investigation as UK regulators Consider New Crypto Rules While regulators […]

FTX Launches Stock And ETF Trading Option In The United States 

A prominent cryptocurrency exchange, FTX, is getting into the stock trading business. Soon, its users will be able to trade equities and exchange-traded funds on the platform.  Only A Few Users In The United States To Enjoy The Service  The Wall Street Journal reports that the firm Sam Bankman-Fried helped establish and serve as its […]

Major Australian Bank Shelves Crypto Launch Plan

CBA’s Crypto App Plan As previously mentioned last year, Australia’s biggest bank disclosed plans to let its users carry out crypto-related transactions on its app.  It has been taking its plan to develop the project but as not stated a particular time it will finally launch the project to the public. It also has plans […]

Crypto Investors Suffer from Lingering Fears

The Situation at Hand The drastic drop and decline that befell the digital asset market last few weeks have left a mark on the users and investors of crypto, with crypto coins and other assets experiencing their lowest of lows and even stablecoins being affected, it’s no surprise that both old and new investor is […]