Intel is set to give Proof of Work (PoW) crypto enthusiasts a glimmer of hope with a new chip designed to be far more economical.
The company will be revealing a new “Bonanza Mine” chip at the upcoming International Solid-State Circuits Conference in February.
Bonanza Mine could effectively lead to “ultra-low-voltage energy-efficient Bitcoin mining ASIC”, according to Tom’s Hardware in a report that can easily subvert expectations.
This comes as a great news for mining operations that are struggling with a greater environmental pressure from concerned groups.
However, countries that bet on cheap electricity to power their Bitcoin (BTC) industries may see their taxable income fall as a result of the lower consumption of energy to mine the remaining stack of BTC blocks.
That said, the new chip is not going to be released to the public – at least not immediately, which means that the company may not yet be dropping the Holy Grail of crypto mining.
Intel has been generally more open-minded to crypto mining that depends on a PoW algorithm. For example, the company said it would not restrict its graphic chips unlike rival NVIDIA which said that it would limit commercial models from mining cryptocurrencies. The latest report, makes Intel a champion of BTC mining.
The Bonanza Chip could help reduce the 137 terawatt hours of energy consumption that BTC is gobbling up every year right now.
Intel has not denied the report and argued that more details would be forthcoming. Whether the Bonanza Chip becomes available to the masses is another matter altogether though.
In the meantime, give your mining hardware a break and visit awesome crypto gaming websites such as 1xBit, FortuneJack and Bitcasino.io.
