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    Intel Intends To Release ASIC Bonanza Mine

    MICROSOFT mining chip

    Despite the strong volatility of the cryptocurrency market, mining is still a profitable activity. Not only the miners themselves make great money on this, but also equipment manufacturers – both ASIC miners and video cards. Moreover, new players also seek to snatch a tasty morsel for themselves and continue to enter the market, despite the high risks.

    Recently it turned out that Intel is going to become the next player in the mining equipment market. The company has applied to participate in the next chip development conference ISSCC 2022, an annual event that brings together the best minds in the world of electronics. 

    At the conference, Intel will present its own development in the field of mining. Unlike AMD and NVIDIA, which started producing graphics adapters for cryptocurrency mining, Intel's development is directed in a completely different direction. Bonanza Mine is a low voltage, energy-efficient Bitcoin mining ASIC. This is a system with several chips that perform code decryption operations using the SHA-256 algorithm. The presentation will take place on February 23.

    Chip Release

    The creation of an ASIC for Bitcoin mining will presumably reduce the mass buying of video cards. The advantage of this chip is greater efficiency and performance compared to graphics adapters. 

    Whether the development will bring significant changes to the graphics card market is not yet known. Intel categorically opposes the use of its GPUs for cryptocurrency mining but is in no hurry to dissuade such a decision. The situation will probably change for a while, but if the availability of chips is insufficient, crypto miners will fall back to an already proven scheme.

    It seems that Intel intends to compete with such major manufacturers of mining equipment as Bitmain. It is unclear whether the company will release the new device as a consumer product or if it is still a pilot project. It is known that the company has been hatching plans to develop its own mining equipment for several years. With the exception of the name and general characteristics, we have no data on the future chip. For the first time, it became known back in 2018, when the company received a patent and began development.

    The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research. This text is not a guide to action. The author's opinion may not coincide with the opinion of CoinJoy.