Imminent arrival of the new Intel chip to mine Bitcoin, Blockscale ASIC

Intel chip - Imminent arrival of the new Intel chip to mine Bitcoin, Blockscale ASIC

The American technology company Intel announced on Monday its new ASIC chip called Blockscale, designed for Bitcoin (BTC) mining. With this they promise to help large mining companies achieve the sustainability and scalability necessary to maintain operations without energy overuse.

In a release published on their website, they presented the Intel Blockscale ASIC, an application-specific integrated circuit (ASIC) chip, with which Bitcoin will be mined and which will begin shipping to buyers from the third quarter of this year.

The chip will provide low power consumption for Proof-of-Work (PoW) mining rigs. For that, it aims for an energy efficiency of 26 J/TH, using a Secure Hash Algorithm-256 (SHA-256) ASIC processor, which is the algorithm that Bitcoin usually uses.

This new Intel product is expected to reach a hashrate of 580 GH/S in operation and support for up to 256 ICs per system.

Intel chip - Imminent arrival of the new Intel chip to mine Bitcoin, Blockscale ASIC
The chip will begin to be distributed from the third quarter of this 2022. / Source: Intel.

Something interesting is that, contrary to what has been happening in the market, Intel will not sell an entire mining equipment, but will only offer the ASIC chip, which will allow each miner to customize their specialized hardware in the way they have. Nevertheless, the shipment will have a reference equipment layout for the assembly of all equipment.

It is not clear how the pre-sale of the chip will begin, but it is presumably within the same company, since shipments will begin in September.

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Sustainability and scalability for mining companies

Intel, as stated, intends to ensure energy efficiency and computing power that are necessary for large mining companies to achieve scalability and sustainability of their operations.

For José Ríos, who is the general manager of Blockchain and Business Solutions in Intel’s Accelerated Graphics and Computing Systems Group, there is a commitment to advance technology, creating an ecosystem of cryptocurrencies more sustainable.

“The Intel Blockscale ASIC will play an important role in helping bitcoin mining companies achieve both sustainability and hash rate scaling goals for years to come,” he said.

Various companies waiting for the chips

According to Intel, there are already several Bitcoin mining companies with orders. For example: Argo Blockchain, Block Inc., Hive Blockchain Technologies and GRIID Infrastructure, they will receive the chip in September.

We have talked about this last company in CriptoNoticias, for its acquisition of miners from Intel. At that time, the company presented to the Securities and Exchange Commission (SEC) the acquisition of what was presumed to be the Intel Bonanza Mine 2, a new piece of equipment with technical specifications similar to those of the chip we are talking about in this news.

ASIC miner - Imminent arrival of the new Intel chip to mine Bitcoin, Blockscale ASIC
Intel will not sell an ASIC miner. Only the chip, which can be assembled to suit each operator. / Source: getbtcz.

Therefore, it is foreseeable that the chip will be a fundamental part of the hardware that will be provided by Intel in a few months, which will be directly competing with the equipment designed by Bitmain, specifically its Antminer S19 Pro and S19 XP models.

In any case, Intel’s announcement is a sign of the enormous –and healthy– competition that is taking place between large companies that are committed to Bitcoin mining as a formalized industry and that deserves innovative and increasingly better products.

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