Technology world power and microprocessor maker Intel is announcing a new chip for Bitcoin and NFT mining. This reflects the company’s strategic move to cash in with the rise of cryptocurrencies and the NFT growth. The new product particularly attacks performance, ease of use and stability.
As reported by Intel, the new blockchain chip acts 1,000 times quicker than most conventional Graphics processing Units (GPUs). It is an energy-efficient “accelerator” which accelerates the work of the blockchain, which need large amounts of computing power and uses a great deal of energy. Actually, it will make Bitcoin mining easy discounts of the cost. Additionally, It can decrease the otherwise large carbon footprint of blockchain mining actions.
Chip shipments will begin in late 2022. Intel has already secured its initial customers like: GRIID Infrastructure, and the newly renamed Block Inc. (Former Square Company). Jack Dorsey renamed the company to reflect its focus on blockchain tech.
The technology world awaited Intel to release a blockchain product. Its rival NVIDIA Corp is doubling its efforts to seize opportunities in the blockchain world. It has previously released a dedicated chip to back ETH-based mining, not to mention the other broadly used chips for mining acts.
