American technology company Intel has revealed some details about its new Bitcoin-mining chip. It was announced during IEEE International Solid-State Circuits Conference (ISSCC) 2022. The conference is centralized around an industry that is manufacturing chips and electronics in general.
Intel mentioned in their reports that new 2nd-gen Bonanza Mine chips are going to operate at 3,600 Watts. That would be the highest performance used for Bitcoin mining. The company’s reports from 2018 are showing that its goal was to reduce power consumption by approximately 15%. Bonanza mine chips are going to be ultra-low-voltage and very energy-efficient.
Intel is not scared of the competitors
Intel is fully aware of its competitors such as Bitmain, MicroBT, and NVidia. However, they are showing confidence in competing with such highly positioned players.
Bitmain’s miner Antmienr S19j Pro 104T is currently operating at 104 Thash/s at 3,068W. Their newest product, however, is operating at 140 Thash/s at 3010W. Even without the chip being released, it already got several customers. Some of them are BLOCK (CEO Jack Dorsey), Argo Blockchain, and GRIID Infrastructure.
The main goal is to increase Bitcoin (BTC) mining efficiency. Bonanza mine (BMZ2) would deliver 40 terahashes per second (40 TH/s).
The BMZ2 chips are going to draw the power of 2,293W for the performance of 40 TH/s. This is considered to be low energy consumption, around 56.97 joules per terahash (J/Th).
Each Bonanza Mine ASIC has 258 engines for mining. They will compute parallelly with SHA256 double hashes. Intel says that those engines will operate at a voltage of 355mV, which they characterized as low.
One ASIC is consuming an average of 7.5W apiece, going up to 137 Ghash/s. Each engine will operate at 1.35 to 1.6 GHz at 75 degrees celsius.
Sustainable solutions for blockchains to release full potential
Many believe BMZ2 will be greatly beneficial for Bitcoin and efficient mining. Bob Burnett said that this is going to be a bullish move for the industry. He is one of the former Intel employees of Divvy Systems/Barefoot Mining.
Intel confirmed that they have been working on a new crypto accelerator for a couple of years now. They are servicing the crypto mining hardware market which helps them grow too. One of the reasons is their tremendous production capacity.
Some would say that this is all a surprise. Yet, there have been many signs. Back in 2013, Intel produced SHA extensions for hardware-accelerated hashing operations.
By the end of 2022, Intel will start offering chips to consumers. Their first customer, GRIID is expecting to receive around 25% of the initial ASIC reserve by 2025. The first Bonanza chip already did wonders, so the expectations for BMZ2 are already set too high.
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