large scale image
LCP Image

Back to TSCFM News

Intel to enter the cryptocurrency mining business

March 09, 2022

Intel to enter the cryptocurrency mining business
Intel is investing Cryptocurrency Mining Business, Will Launch Energy-Efficient Mining Chips Intel will deliver its first crypto-focused chip, named “blockchain accelerator”, later this year.

Intel is investing in blockchain technology with another chip intended to mine cryptocurrency. The chipmaker said on Friday that it will start selling the chip tweaked to mine Bitcoin and another cryptocurrency in the near future. Block (already Square) and two mining organizations, Argo Blockchain and Griid Infrastructure are among its first clients.
 
Mining is a computationally-serious interaction for cryptocurrency that records exchanges on a universally shared information base known as the blockchain. Another coin is granted to the main digger who tackles a troublesome figuring task.
 
In a blog entry, Senior Vice President and General Manager of Intel’s Accelerated Computing Systems and Graphics Group Raja M Koduri said the organization announces its “aim to add to the improvement of blockchain technology, with a guide of the energy-proficient accelerator”.
 
In the blog post, Koduri further expressed that the organization will “engage and promote an open and secure blockchain ecosystem and will help advance this technology in a responsible and sustainable way”.
 
He added that they were aware that some blockchains necessitated a significant amount of computer power, which, unfortunately, equated to a significant quantity of energy.
Important Links:

Recommended for you ...

Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services
Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services

February 12, 2024

Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices
Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices

February 12, 2024

Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices
Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices

February 12, 2024

Enquire Now
REQUEST A CALLBACK
Chat on WhatsApp