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Customers for Intel’s Bitcoin mining ‘accelerators’ include Block and Argo

Intel revealed on Friday that its blockchain accelerator would be available later this year, with a long list of high-profile clients already on board.

The US giant said it was “declaring [its] intent to contribute to the development of blockchain technology, with a roadmap of energy-efficient accelerators” in a blog post on its website.

Among its initial customers are Argo Blockchain, BLOCK (previously known as Square), and bitcoin mining business GRIID Infrastructure.

It stated that it would participate and promote an open and secure blockchain ecosystem while developing its goods, with the goal of ensuring long-term viability. The technology will be put on a little piece of silicon to have the least amount of influence on present product supply.

Intel has been secretly securing partnerships and making patent bids on mining technology in preparation for such an announcement. GRIID had negotiated a deal to supply the corporation with hardware, according to papers from January. Intel also announced in January that it would release “Bonanza Mine,” a “Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC.”

Intel was awarded a patent in 2018 for an energy-efficient bitcoin mining method.

Intel’s recent step underscores the company’s ability to gain market share among bitcoin miners in the United States. Following China’s regulatory crackdown last year, the United States now has the greatest population of miners.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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