Intel Takes Bitcoin Mining Seriously: There’s Already a First Customer for Bonanza Mine

In addition to an experimental project as had been assumed in recent hours, the new Intel’s Bonanza Mine ASIC for Bitcoin mining a more than concrete reality, so much so that the company has signed a first “long-term” contract to provide it to a cryptomining startup called GRIID. To report it fox business.

GRIID is an Ohio company that is expected to list on the New York Stock Exchange in the coming weeks, with an expected market value of approximately $3.3 billion. According to Securities and Exchange Commission filings reviewed by Fox Business, GRIID has already signed an agreement with Intel to obtain the “Bonanza Mine” ASICs, also known as BZM2.

These highly specialized single-threaded chips, at least according to the title of the conference to be held in February, promise efficient mining thanks to the low operating voltage. Even though numbers and comparisons with other solutions (like Bitmain’s) are lacking, GRIID must have been impressed to decide to commit to purchasing Intel’s new ASIC. The relationship between power and energy consumption is key to maximizing the yield of Bitcoin mining.

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The order will be delivered in 2022 and GRIID will have access to a significant share of Intel’s future production volumes“, reports Fox Business citing SEC documentation, which also reports a 4-year deal, at least 25% supply of the total until May 2025 and prices fixed by Intel until May 2025. May 2023 .

GRIID, a player that bases its activity on the use of “carbon-free” energy for its mining operations, it is therefore essential for them to have the most efficient solutions possible. At the same time, it sweeps the environmental impact of Bitcoin mining off the table, a good factor for both GRIID and Intel for image issues, a fundamental aspect in today’s world. today.

It should also be noted that at those times it was unearthed a patent dating from June 2016moreover deposited by the same engineers who will participate in the ISSCC, entitled “SHA-256 DATAPATH OPTIMIZED FOR HIGH-PERFORMANCE, ENERGY-EFFICIENT BITCOIN MINING“. In short, it seems that Intel has already “everything ready” at home, it is not a project born in a hurry in recent months.

The house of Santa Clara then ready to enter a new market, a sector that will lead it to further diversify its field of action and therefore its sources of income. We remind you that he is not the only one in this case, NVIDIA (CMP cards) and AMD being already directly or indirectly involved in the mining of crypto-currencies like Ethereum.

Additionally, Intel has stated that the upcoming Arc GPUs will not have any limiters for cryptocurrency mining, but at this time the performance of the new chips in this scenario is unknown, so we will have to wait to find out if they will become the prey. to minors and, if so, how the company decides to behave.