Intel Plans to Present an Efficient BTC Mining ASIC

Leading technological corporation Intel is going to unveil a new, environmentally friendly BTC mining ASIC at the upcoming International Solid-State Circuits Conference (ISSCC), which will take place next month.

In the program, published by ISSCC, it's mentioned that session 21, highlighting chip launches, and scheduled on February 23, includes Intel's ultra-voltage energy-efficient BTC mining ASIC named Bonanza Mine. Application-specific integrated circuits (ASICs) are systems developed for certain use cases and not for general-purpose.

This means Bitcoin mining ASIC can only be used for mining BTC and not other crypto assets.

ASICs require less power consumption as they use a specific algorithm. Intel showed interest in crypto space before. In 2018, the company submitted an application to The United States Patent and Trademark Office for an eco-friendly BTC mining delivering system. In August 2021, Intel obtained a small stake in crypto trading platform company Coinbase.

Presently, large companies producing Bitcoin mining ASIC chips are Bitmain and MicroBT.

Recently, financial company Block (previously Square), owned by Jack Dorsey published job posts with the goal to hire specialists to work on next-gen bitcoin mining ASIC.