Intel opens sales of ASIC mining chip

Blockscale devices have already been bought by cryptocurrency mining companies Argo Blockchain, GRIID, and HIVE

05.07.2022 - 14:55

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2 min

What’s new? Intel has announced that it has begun shipping the Blockscale ASIC, a chip for cryptocurrency mining. Raja Koduri, executive vice president of Intel’s architecture, graphics and software division, congratulated the team that developed the device and revealed that Argo Blockchain, GRIID, and HIVE mining companies will be the first to use it.

Intel AXG Custom Compute team is now shipping the Blockscale ASIC! First product will always be unforgettable, congratulations team👍 Excited to see how @ArgoBlockchain @griid and @HiveBlockchain improvise around Blockscale and our open design. pic.twitter.com/0rxtNTLMfw— Raja Koduri (Bali Makaradhwaja) (@RajaXg) June 29, 2022

What is known about the ASIC chip? Intel unveiled Blockscale on April 4. Its hashrate is 0,58 TH/s and its power consumption is between 4,8 to 22,7 W. Each ASIC chip can be combined with other devices into a single mining unit, increasing the performance up to 256 chips per network. The hashrate of such a block will be 148,5 TH/s.

According to Argo Blockchain’s annual report with the US Securities and Exchange Commission (SEC), the company plans to increase its hash rate to 5,5 EH/s in 2022. The increase will be driven by the installation of equipment using Blockscale.

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