Intel unveiled new bitcoin mining chip

The device has better energy efficiency compared to competitors

05.04.2022 - 08:45

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What’s new? On Monday, April 4, Intel published information about its new bitcoin mining chip, Blockscale. Its main feature is increased energy efficiency. The chip is designed to operate on the Proof-of-Work (PoW) consensus mechanism and use the SHA-256 encryption algorithm.

The full version of the press release

What else is known about Intel’s new product? Blockscale’s hashrate is 0,58 TH/s and the power consumption ranges from 4,8 to 22,7 W. Each 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. By comparison, rival Bitmain’s Antminer S19Pro chips have a hashrate of 110 TH/s with similar energy efficiency.

According to the press release, Blockscale’s shipping will start in the third quarter of 2022. Argo Blockchain, Block, Hive Blockchain Technologies, and GRIID Infrastructure will be the first companies to test the new systems based on the new Intel chips.

What had happened before? On March 14, the European Parliament’s Economic and Monetary Affairs Committee voted against a ban on cryptocurrency mining based on the Proof-of-Work (PoW) consensus algorithm. The decision, which could have shifted mining to environmentally friendly mechanisms, failed to get the required number of votes in parliament.

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