Microchip giant Intel is likely to enter the crypto and Bitcoin mining hardware market as it mulls a plan for a new mining chip, according to a report by BeinCrypto on Wednesday.

  • The multinational technology giant is set to launch its “Bonanza Mine” processor at the International Solid-State Circuits Conference (ISSCC) starting on February 20.
  • Intel’s presentation has been scheduled in the “Highlighted Chip Releases” category detailing the new chip, identified as an “ultra-low-voltage energy-efficient Bitcoin mining ASIC.”
  • Intel’s entry into crypto mining signals it could soon be competing with the likes of Bitmain.
  • Raja Koduri stated that the company was working on specialized crypto-mining hardware and technologies. 
  • Koduri further stated that the new chip would be completely distinct from graphics processors (GPUs) for graphics, gaming, and other amazing things.

Intel is already along with its development phase for new mining-specific processors. INTC down -1.69%, BTC USD  down -0.98%