Intel’s Bitcoin Mining Chip will Challenge Chinese Rig Manufacturers

Intel Corporation is finally making a break into the crypto mining industry. The processor manufacturing giant has recently announced a new chip for miners. The chipset named BonanzaMine is a novel ASIC processor and is considered to be Intel’s initiation into the Bitcoin mining industry.

It is worth mentioning that an ASIC processor is application-specific integrated chip that is highly customized for a specified function. Intel spokesperson first introduced the chip at the IEEE 2022 International ISSCC. The Intel engineers claim that the processor is 1000 times more agile than the available GPUs in the market.

Sharing his opinion on the new Intel ASIC processor, cryptocurrency analyst Colin Wu claimed that Bitman’s counterpart product might have a visible advantage over Intel. Wu described the Intel chip as the first generation sample and he opines that the company might be sharing the second generation soon enough.

Wu explained that the Intel ASIC processor offers a throughput of 40 terra hash per second with a 3600 Watt electricity supply. According to Wu, the chip is unable to handle have the workload of the latest Bitman mining machine. Wu estimated that the second-generation Intel processor can offer up to 35J/T. He also claimed the undisclosed latest Intel chip may equate 75 BonanzaMines with input at 8.875 volts distributed between 3 chip stacks i.e. 355V.

Raja Koduri General Manager and Senior VP at Intel’s Graphics and Accelerated Computing Systems recently shared more details about the BonanzaMine ASICs. He told the media that the chips will roll out towards the end of the current year. He further explained that the first clients who share the sustainability goals of Intel like Block, Argo Blockchain, and GRIID have already signed up.

Intel plans to increase the processing speed by 5% and reduce IR casualties. The ASIC boards come with microcontrollers for temperature and voltage monitoring in real-time. Experts claim that Intel chips have an advantage due to their microscopic size on account of the lack of alternatives in the marketplace. Koduri also highlighted that the components of the chip are mounted on a silicon platform to minimize supply impact.