Intel declared about its upcoming second-generation bitcoin mining chip Intel Blockscale ASIC which launched recently and its coming was announced in February. It will ship in Q3 2022 to select customers.

A new processor designed for energy efficiency and sustainability from the microchip manufacturer doubles down on its environmental, social, and governance ESG commitments. The new Blockscale chip will provide up to 580 GH/s gigahashes per second (GH/s) of hash rate while consuming just 26 joules per terahash (J/TH). This makes it much more efficient than the flagship Bitmain equivalent when used in an array. On its site, Intel explains that the chip was created with the aim of energy sustainability in the context of ESG (environmental, social, governance) which continues to hamper the industry.

The hash rate determines how quickly miners can solve Bitcoin's next block, while the joules per terahash measure how much energy is used per terahash. Each terahash is created by consuming one joule of energy. A terahash is 1 trillion hashes. An application-specific integrated circuit ASIC is a system designed specifically for a particular application, such as crypto mining. As per the company, the new Intel Blockscale chip shipments would begin in the third quarter of 2022.

For comparison, Bitmain’s Antminer S19 Pro+ Hyd delivers a hash rate of 198 TH/s while consuming 27.5 J/TH, and MicroBT’s Whatsminer M30S++’s related specs are 112 TH/s at 31 J/TH. Ripple's co-founders are now supporting a campaign to end Bitcoin mining entirely, which collectively consumes more electricity than Norway.

Intel vice president and general manager of Custom Compute in the Accelerated Computing Systems and Graphics Group, Balaji Kanigicherla, commented on solutions that can deliver a balance of hashing throughput and energy efficiency, adding: “Intel’s decades of R&D in cryptography, hashing techniques, and ultra-low voltage circuits make it possible for blockchain applications to scale their computing power without compromising on sustainability.”

Companies such as Argo Blockchain, Block (formerly Square), Hive Blockchain Technologies, and GRIID Infrastructure have developed new systems using the architecture. In February the company has launched of the Bonanza Mine chip which is following lined up after new addition to Intel’s ASIC. In Bonanza Mine, 300 chips delivered up to 40TH/s at a power consumption of 3,600 watts which is marketed as a complete mining system. Crypto mining companies are currently experiencing a chip shortage as a result of pandemic-related supply chain issues.

Indrani bose

CBW - External Analyst

INDIA