Intel Introduces Energy Efficient Bitcoin Mining Chip

Intel's first cryptocurrency chip, dubbed the "Blockchain Accelerator", is expected to ship later this year. Intel says its new crypto chip is energy efficient. Already pre-ordered by Bitcoin mining company GRIID Infrastructures and two companies formerly known as Block, Jack Dorsey's fintech, Square.

The announcement was made by Raja Koduri, the senior vice president of Intel. He said

The impact of cryptocurrency mining has been a major concern. Mining, which requires a lot of power, is powered by coal and natural gas, which is detrimental to the environment and can lead to power outages and power outages. So this chip introduced by Intel helps to save energy.

The United States of America lawmakers have even raised the issue in Congress, debating how to deal with the rising energy consumption associated with mining crypto and asking Bitcoin companies to disclose how much energy they are consuming. So how important is this latest chip from Intel to them?

Intel says the chip will be officially unveiled at the International Solid-State Circuits Conference on February 20.