Intel enters the crypto mining business and claims its chip is 1,000 times faster than other GPUs

Intel, the world’s largest chipmaker by revenue, has officially announced its foray into the world of cryptocurrencies with the launch of a powerful new mining chip. The company intends to take advantage of the boom in crypto and non-fungible token (NFT) mining operations with its latest chipset, which it claims performs 1,000 times faster than most processing units. graphics (GPU) conventional.

Intel strongly believes that its chip is an energy-efficient “accelerator” that can make blockchain tasks much faster and more environmentally friendly. If true, it could improve efficiency and reduce the otherwise large carbon footprint of blockchain mining activities.

“We expect our circuit innovations to deliver a blockchain accelerator that delivers more than 1000 times the performance per watt of traditional GPUs,” said Raja M Koduri, Senior Vice President and General Manager of Accelerated Group. Computing Systems and Graphics at Intel Corporation, in a blog post. Publish. “You can hear more about our circuit innovations at the International Semiconductor Circuits Conference (ISSCC) this month,” he added.

This move comes as no surprise, given the immense potential of the blockchain and NFT industry. Not to mention that Intel’s competitor NVIDIA Corp., whose chips are widely used for mining, already has a dedicated chip to support Ethereum-based mining.

Chip shipping will begin later in 2022, and its first customers include GRIID Infrastructure and Block Inc, formerly Square Inc. With Jack Dorsey at the helm, Square Inc. has renamed itself Block Inc. to focus on the blockchain. technologies.

Intel also announced the acquisition of Israeli company Tower Semiconductor in a $5.4 billion deal. The deal will give the U.S. chipmaker an edge over others in satisfying the global semiconductor shortage and put it at the forefront of custom-designed chip manufacturing.

Intel’s formal venture into the crypto world presents a win-win situation for gaming and cryptocurrencies. Intel’s roadmap incorporates scalability while deploying durable solutions with massive processing power.

“Amazing things happen when a large amount of computing power is available to a large number of people without too much friction. We look forward to the next round of amazing things! said Raja M Kudori.

Intel Labs has constantly tried to create breakthroughs and solve bottlenecks associated with integrated circuits, cryptography and GPUs. In its latest blog post, the company wrote that there is immense potential in the areas of blockchain technology, Metaverse, and Web 3.0. To realize its vision and harness this potential, Intel has also formed a new Custom Compute group within Intel’s Accelerated Computing Systems and Graphics business unit.

There have been growing concerns about the energy consumption associated with blockchain mining operations, creating the need for energy-efficient solutions. Koduri’s blog post states that the chipmaker will “engage and promote an open and secure blockchain ecosystem and help advance this technology in a responsible and sustainable manner.”

“We are aware that some blockchains require an enormous amount of computing power, which unfortunately translates into an immense amount of energy. Our customers demand scalable and sustainable solutions, which is why we focus our efforts on realizing the full potential of blockchain by developing the most energy-efficient computing technologies at scale,” the blog post reads.

First post: STI

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