According to reports, Intel, the world’s largest processor manufacturer, will unveil a new “Ultra-Low-Voltage Energy-Efficient” Bitcoin Mining ASIC known as Bonanza Mine at this year’s IEEE International Solid-State Circuits Conference.
In November 2018, Intel filed a patent that described similar ideas for high-performance Bitcoin Mining. The patent may have similar ideas to the one being displayed at the ISSCC.
According to the patent, Bonanza Mine’s ASIC will be able finish calculations as efficiently as other ASICs and eliminate the need to repeat or duplicate computations. The system is expected to reduce power consumption by around 15%
Due to their low sales and shortages, the processors used in mining crypto are well-known for their vulnerability. With a new Ether ASIC still in development, Intel could be a rival to Bitmain. Nvidia was also affected by declining chip sales. Despite constant processor shortages, the demand for crypto mining has been steadily rising despite inconsistent production costs.
Intel representatives seemed positive about entering the crypto mining market and commented on the new chip.
“Intel has been working on SHA 256 optimized ASICs since the beginning of pathfinding work in Intel Labs.”
It is not clear at the time of publication if Intel will make the Bonanza Mine available for retail or if it will only be used for research or industrial purposes. This could make Intel a major competitor in the crypto-mining market.