The world’s second-largest microchip producer Intel Corporation plans to enter the Bitcoin mining hardware industry.
According to a report from Tom’s Hardware, the company is expected to unveil its new microchip ‘Bonanza mine’ processor at the ISCC conference in February.
Why are we excited?
This chip is described as an ultra-low voltage energy-efficient ASIC. What this means for the Bitcoin mining industry is that miners would be able to perform blockchain validation at a lower cost and with lower power.
This would help keep the network decentralized as more miners can join the industry and prevent a recurrence of the 2017 conspiracy where large mining pools attempted to tear the system apart by increasing Bitcoin’s block size.
Emmanuella Elenbalu is the Content Manager at Coinsem. She is passionate about cryptocurrency, investment, and learning new things.