Crypto mining and especially Bitcoin mining requires a lot of energy. In this context, many companies are working on solutions. Intel has just announced the future marketing of a Bitcoin mining card. This card will be “1,000 times better per watt” than current products on the market.
Crypto mining is no longer an activity within everyone’s reach. Bitcoin mining, for example, requires a lot of advanced computer equipment. The Intel company is preparing a new electronic chip that could change the situation in this area, let’s see how.
The Intel Chip, A “Blockchain Accelerator”
Intel has announced that it is working on the design of a chip suitable for crypto mining. This card is advertised as a “blockchain accelerator” by Intel in the sense that it has the “potential to enable everyone” to take advantage of new technologies such as the metaverse and web 3.0
Importantly, the company says the chip will deliver “ 1,000 times better performance per watt than other GPUs on the market designed for SHA-256 mining.” As a reminder, SHA-256 is the algorithm used in particular for Bitcoin mining. The company said more details will be provided during the International Solid-StateCircuit Conference (ISSCC) later this month. The commercialization of this chip should take place later in the year.
The senior vice president at Intel said that two companies are already interested in this type of chip: Argo Blockchain and Block As a reminder, Block is the company previously known as Square and owned by Jack Dorsey, the former CEO of Twitter.
Bitcoin Mining Criticized For Its Environmental Impact
Such a card could be a game-changer when it comes to mining. With such power, many more people could be able to mine, which could help to “decentralize” this activity.
More importantly, this chip could reduce the environmental impact of mining. Bitcoin mining is widely criticized for being energy-intensive. A study by the University of Cambridge had thus established that the environmental impact of Bitcoin mining is similar to that of a country like the Netherlands.
“We are aware that some blockchains require enormous computing power, which unfortunately translates into an immense amount of energy. Our customers demand scalable and sustainable solutions, which is why we focus our efforts on realizing the full potential of blockchain by developing the most energy-efficient computing technologies at scale. — Raja M. Koduri, Senior Vice President at Intel
A more efficient card per watt would by definition reduce the electrical consumption of mining. It remains to be seen now whether Intel’s promise will be kept. For that, it will be necessary to wait to have figures and to know the technical characteristics of their new chip.