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Intel's New Cryptomining Chip Surpasses Major Graphics Cards in Performance Per Watt a thousand times



Intel's new and apparently highly efficient cryptomining chip is designed to align the company with the age of Metaverse and Web 3.0, with gamers perhaps especially hoping that the new chipset could also provide better availability for the still scarce graphics card.

The ongoing boom around digital cryptocurrencies like Bitcoin (a hardware wallet from 59 euros on Amazon) is a real nuisance for many gamblers, as purchasing a powerful graphics card at a reasonable price seems practically impossible. However, CPU manufacturer Intel has now officially announced that it wants to enter the cryptomining business with a new chip.

In a press release written by Senior Vice President Raja M. Koduri, the San Francisco-based chipmaker announced, among other things, the formation of its own division, which will further contribute to the further development of blockchain technology with efficient chips. In the same breath, however, Intel also admits that mining the controversial cryptocurrency requires enormous power and thus a lot of energy, which is why it seems to be focusing primarily on the efficiency of its chipsets.

This new ASIC, codenamed "Bonanza," has leaked before, but Intel has now officially announced that the chip will ship later this year. Thanks to years of research in cryptography and hashing technology, Intel also firmly believes that this highly efficient ASIC can deliver up to 1000 times better performance per watt in cryptomining SHA-256 Bitcoins than commercial graphics cards.

The company would like to announce more details about its efforts in the cryptomining and blockchain segment at the International Solid State Circuit Conference, which will also take place in San Francisco in a few weeks. It remains to be seen whether Intel can turn all of these promises and announcements into action, and whether the new cryptomining chip will mean that graphics cards will be available in higher numbers soon. However, since normal GPUs are rarely used in SHA-256 Bitcoin mining, this is sadly doubtful.

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