Intel slated for a big reveal of a proposed new energy-efficient Bitcoin mining ASIC at ISSCC 2022
As per news sources, one of the biggest computer processor manufacturers, Intel, is on a plan to launch an “Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC” dubbed as Bonanza Mine at the upcoming IEEE International Solid-State Circuits Conference scheduled for February 2022.
Intel had reportedly submitted a patent back in November 2018 that outlined similar ideas consisting of a “high-performance Bitcoin Mining.” It is anticipated that the processes that had been described in the patent are making their way into the product that is slated for demonstration and display at the ISSCC 2022.
According to the patent report, the ASIC behind the Bonanza Mine would be able to finish calculations as effectively as other ASICs while simultaneously eliminating the need for redundant computations. This system is also proposed for the reduction of overall power consumption by approximately 15 per cent.
As the processors that are currently used for mining crypto have been notorious for being subject to shortages and diminishing sales, Intel is ready to counter the same with its latest development. Intel is now on its way to becoming a competitor against companies such as Bitmain, with a proposed Ether ASIC that is still pending release and Nvidia, another that was had been struck by multiple instances of declining chip sales.
The demand for crypto mining has been rising despite constant processor shortages coupled with inconsistent production costs.
Executives from Intel also seemed confident with regards to entering the crypto mining industry with the new chip, commenting that the firm has done design work “around SHA 256 optimized ASICs for several years” that had begun with pathfinding work done inside Intel Labs.
While publishing this piece, it was unclear whether Intel would release the Bonanza Mine for retail sale or it would be strictly reserve it for industrial and research purposes. Regardless, the move could potentially catapult Intel as the main competitor within the crypto-mining industry.