Intel Unveils Energy Efficient Blockchain Mining Chip
While we often discuss the benefits, such as decentralization and heightened security, we often forget blockchain mining technology requires huge amounts of power.
According to a recent article from Bitcoin.com, microchip manufacturing giant Intel recently revealed new details regarding an groundbreaking crypto mining accelerator chip. Named the “Bonanza Mine” (BMZ1) blockchain accelerator, this microchip will enable crypto mining operations to conduct mining operations with incredible efficiency.
In fact, Intel’s VP of Accelerated Computing Systems and Graphics Group, Raja M. Koduri claimed in a blog post the chip will provide “1000x better performance per watt.”
As if this announcement wasn’t impressive enough, Paul Alcorn of Tom’s Hardware recently claimed Intel is already working on a second generation of this chip, describing it as a “powerful 3,600W miner that delivers up to 40 [terahash per second (TH/s)] of performance.” The potential for this chip is so massive it is already receiving orders from major figures in the blockchain space, including Argo Blockchain, Griid, and Block (owned by Jack Dorsey).
Power consumption is a major obstacle for the future of blockchain, and this chip will support major mining operations with improved energy efficiency. However, chip development is still struggling as a result of supply chain issues, and production slowdowns will hinder progress for the near future.
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Edited by Maurice Nagle
