Intel’s new Bitcoin Mining chip is gaining serious Traction and you would be amazed by the details. With a major deal arriving with one of the world’s biggest bitcoin mining companies, Intel’s new ASIC chip is gaining traction already.
Intel’s new Bitcoin mining chip is Gaining Serious Traction
The United States mining firm HIVE Blockchain has revealed that not only will they purchase a lot of next-generation Intel “BMZ2” Bonaza mine ASICs, but will also work on integrating them right into its custom-built mining equipment.
The mining company is expected to start deploying the new gear in the second half of 2022. Once installed, it is expected to increase HIVE’s hashrate from 1.9 exahash per second (Eh/s) to 3.8 Eh/S, which equates to about a 95% increase.
Intel Powered, Bitcoin Mining
While Intel would not be disclosing exactly how many ASICs it would be selling to HIVE, Performance data and unit cost information is available for BMZ2.
One ASIC possesses a 135 TH/s performance and energy efficiency of 26 j/THs. One of the devices is expected to set HIVE back around $5,600.
Being aware that HIVE expects to almost double its hash power, which brings the total number of BMZ2 devices to about 14,000, and the cost of the entire hardware to above $78 million.
Bitcoin is hailed as a transformative technology by many, but when it comes to the issue of energy consumption and carbon footprint, it is something that network is having issues shaking off.
Even though a lot of people believe that the Bitcoin network’s energy consumption is exaggerated, a more energy-efficient and better-performing device on the market is something appealing.
Intel left the cryptocurrency mining industry in its nascent years, and now it looks like it has turned a corner, just as demonstrated by the Vigor with which it is chasing this new line of ASICs.