Semiconductor chip manufacturer Intel has announced that it will be launching a newly designed application-specific integrated circuit (ASIC) chip made for Bitcoin mining, with a tentative release date in February.
According to the conference agenda for the International Solid-State Circuits Conference (ISSCC) to be held in February 19-26, Intel will be unveiling its new “Bonanza Mine: An Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC,” a move that would position Intel in a competitive space, operating alongside crypto-specialized manufacturers such as Bitmain, Whatsminer, and MicroBT.
Last year in October, alongside its announcement of its 12th-gen Alder Lake CPU series and the unveiling of its first generation of GPUs, the Intel® Arc™ series, Intel stated that it will not be setting limits for Ethereum mining on the new GPUs, unlike its competitors, Nvidia and AMD.
The Bonanza Mine ASIC mining units are said to be designed as low-voltage and energy efficient. With Intel’s industry presence as one of the largest semiconductor chip manufacturers globally, this latest announcement comes at a strategic period, as Bitcoin steadily closes in on its 21 million threshold.
With the release of Intel’s 12th generation CPUs and its first generation of GPUs, it is steadily gaining back the momentum that it has held over competitors such as AMD and now Nvidia, especially in the high-performance hardware market for desktop and mobile processors. As it goes into the crypto mining hardware space, the added layer of competition will likely rebalance the bearings for crypto mining enthusiasts who often find themselves in competition with other consumers who also need the same GPUs.
Last year in March, AMD announced that it is also developing crypto-specific mining hardware. Nvidia, on the other hand, has released consumer warnings about how the current turn to proof of work in the Ethereum blockchain may cause fluctuations in GPU demand.
While this is positive news for stimulating the silicon market through added competition against more established ASIC manufacturing firms, the current state of silicon shortage across the world may be cause of concern.
According to blockchain infrastructure firm Bitfarms, the estimated sustainability index for the global mining industry has grown by approximately 58.5%, during Q4 2021. Intel’s latest announcement of this energy-efficient ASIC mining chip is set to boost the sustainability of crypto mining globally, with the annual revenue from bitcoin mining currently projected at $17 billion.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.