Intel launches crypto mining chipset for energy-efficient hashing

For the unversed, a chain of private computers — a network — is constantly working towards authenticating the transactions by solving complex cryptographic puzzles. This is called cryptocurrency mining. Most legacy cryptocurrencies, such as Bitcoin, rely on a proof-of-work mechanism. PoW mechanism is a traditional form of crypto mining where thousands of computers are required in a mining facility, consuming high electric power.

Hashing is essentially, the computational power crypto miners require to mine a coin. This computational power is also referred to as hash rate. The more hash rate a mining device offers, the more coins can be mined.

Intel’s new Blockchain chip are compatible with ASIC -based systems and SHA-256 hashing, providing the energy efficiency and computing power needed to achieve scalability and sustainability. And given the nature of the silicon powering this technology, Intel will be able to supply these chips in volume without compromising the supply of new CPUs or GPUs.

“Momentum around blockchain continues to build. It is the enabler of decentralised and distributed computing, making way for innovative business models. To power this new era of computing, Intel is delivering solutions that can offer an optimal balance of hashing throughput and energy efficiency regardless of a customer’s operating environment. Intel’s decades of R&D in cryptography, hashing techniques and ultra-low voltage circuits make it possible for blockchain applications to scale their computing power without compromising on sustainability,” said Balaji Kanigicherla, Intel vice president and general manager of Custom Compute in the Accelerated Computing Systems and Graphics Group, speaking about the new chip.

Key features

Key specifications for the Intel Blockscale ASIC include a dedicated Secure Hash Algorithm-256 (SHA-256) ASIC processor, up to 580 GH/s hash rate operating and up to 26 J/TH power efficiency, on-chip temperature- and voltage-sensing capabilities, support for up to 256 integrated circuits per chain, reference hardware design and software stack to jump-start customers system development.

According to Intel,  shipments to customers will begin in the third quarter of 2022.  Meanwhile, Argo Blockchain, Block Inc., Hive Blockchain Technologies and GRIID Infrastructure will be among the first companies to develop new systems based on Intel’s ASIC.