Intel to unveil 'energy-efficient' bitcoin mining chip

Intel will unveil a Bitcoin mining “Bonanza Mine” chip during this year's International Solid-State Circuits Conference.

Intel to unveil 'energy-efficient' bitcoin mining chip

During this year's International Solid-State Circuits Conference (ISCC), technology giant Intel will unveil a Bitcoin mining “Bonanza Mine” chip, a report by Tom's Hardware says.

Intel will present during the conference on its new Bonanza Mine chip, which the company is describing as an "ultra-low-voltage energy-efficient Bitcoin mining ASIC."

According to the company's GM, Raja Koduri, who discussed gaming GPUs in December: "I think blockchain is much more efficient than burning hardware cycles to do transactions." He added that they were "working on this."

The problem of validating a blockchain for a much lower price and with less power seems doable. "We're working on it, and we might share some interesting hardware for it at some point in the future," he said.

Currently, it is unclear if Intel will release the new chip, or if it will stay in research for now, according to Tom's Hardware.

After NVIDIA's plan to make its own cards "less desirable" for Ethereum miners, Intel announced that its upcoming graphics cards will not restrict cryptocurrency mining.

We have not designed the product or built any features specifically targeted at miners at this time. Roger Chandler, vice president and general manager of Intel's client graphics products and solutions said," No matter how the product is avoided or locked out, it will be in the market and people will buy it.".

Cambridge Bitcoin Electricity Consumption Index data shows Bitcoin mining consumes about 137 terawatt hours of electricity per year, which is more than most countries consume.