Intel to Unveil New Energy-Efficient Bitcoin Mining ASICs at Next ISSCC

According to reports, Intel, one of the world's largest manufacturers of computer processors, intends to announce a new "ultra-low voltage power-saving chip" called Bonanza Mine at the upcoming IEEE International Solid State Circuits Conference (ISSCC) in February 2022 Bitcoin mining application-specific integrated circuit (ASIC)".

Intel filed a patent in November 2018 outlining a similar idea for "high-performance bitcoin mining." It is suspected that the process described in the patent could find its way into the products shown at ISSCC.

According to the patent, the ASIC behind Bonanza Mine would be able to complete calculations as efficiently as other ASICs, while eliminating the need for repeated or redundant calculations. This system is intended to reduce overall power consumption by approximately 15%.

Processors used for cryptocurrency mining have been constrained by supply shortages and declining sales. Intel will be a competitor to the likes of Bitmain, whose proposed ethereum ASIC is still awaiting release, and Nvidia, which has been hit by multiple dips in chip sales. Demand for crypto mining has been steadily rising despite ongoing processor shortages and erratic production costs.

Representatives from Intel seemed confident about the new chip and entry into the crypto mining industry, commenting:

"Intel has been designing ASICs around SHA 256 optimization for several years, starting with pathfinding work done in Intel Labs."

At the time of publication, it was unclear whether Intel would release Bonanza Mine for retail use, or if it would be strictly for industrial or research purposes. Regardless, this could make Intel a major competitor in the crypto mining industry.

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