What is Intel's new bitcoin mining chip?

Intel’s new bitcoin mining chip, the Intel Blockscale ASIC, will ship in Q3 2022 to select customers. Intel has announced details for its upcoming bitcoin mining chip, the Intel Blockscale ASIC, which will ship in Q3 2022. Intel’s chip, focused on energy efficiency and sustainability, will operate with up to 26 J/TH of power efficiency.

Will Intel's 'Bonanza mine' chip compete with Bitmain?

This year, Intel has a presentation scheduled in the 'Highlighted Chip Releases' category to outline a new "Bonanza Mine" processor, a chip described as an "ultra-low-voltage energy-efficient Bitcoin mining ASIC." That means Intel could soon compete with the likes of Bitmain in the market for specialized ASICs for Bitcoin mining.

Is Hive a bitcoin mining rig based on Intel chips?

The company announced its foray into bitcoin mining about a year ago, with its first customers for the chips, dubbed Blockscale, being Argo Blockchain (ARBK), Block (SQ), Griid Infrastructure and Hive Blockchain (HIVE). Since then onlyHive has confirmed the installation of mining rigs powered by Intel chips.

Will Intel compete with Bitmain?

That means Intel could soon compete with the likes of Bitmain in the market for specialized ASICs for Bitcoin mining. Intel also commented on the new chip to Tom's Hardware, saying "Intel has done design work around SHA 256 optimized ASICs for several years beginning with pathfinding work done in Intel Labs.