California-based tech giant and conductor chip manufacturer, Intel has announced on Monday that it is set to launch the Intel Blockscale ASIC which is a second-generation mining chip for Bitcoin (BTC).
Through decades of hard work in the area of research and development, this new product would help companies involved in bitcoin mining through the Proof-of-Work (PoW) mining model to become more efficient in their energy utilization.
As an innovative firm, Intel began to look in the direction of blockchain earlier this year with some keen emphasis on developing chips that would make BTC mining become more energy efficient.
Commenting on this product, Vice-President and General Manager of the blockchain unit at Intel, Balaji Kanigicherla, said that with this new product, blockchain companies would have the capability of increasing their mining power while energy consumption remains minimal.
Coming at a time when there has been a huge global call on the environmental impact of mining on the climate, Kanigicherla stated that this new product is designed to mitigate the negative impact that other available mining rigs are prone to cause.
As regards the features of this new product that differentiates it from other mining rigs that are available out there in the market, Intel stated that the Blockscale ASIC chip can deliver a hash rate of up to 580 gigahashes per second (GH/s) with a power efficiency of about 26 joules per terahash (J/TH).
On the number of Integrated Circuits (ICs) per chain that can be supported, Intel mentioned that the Blockscale ASIC can support up to 256 ICs while the temperature and voltage of the chip can also be read on the go through a sensor.
Brighter days ahead for the Bitcoin mining industry
Just as many countries are now taking a positive stance on cryptocurrency adoption, the Bitcoin mining sector could also be in for a boom with the launch of environmentally friendly products like the blockscale ASIC which could also see a country like China relax its ban on cryptocurrency mining.
But in reality, whichever direction the pendulum chooses to swing in these nations, it is no doubt another win for blockchain technology and the Proof-of-Work mining model as it is reported that mining companies such as Block, GRIID, and a couple of others have already pre-ordered the new Blockscale ASIC.