It is expected that Intel will use its presentation in the ‘Highlighted Chip Releases’ category to outline a new processor named “Bonanza Mine,” which is described as an ultra low voltage energy efficient Bitcoin mining ASIC. This means Intel could soon compete with companies such as Bitmain in the marketplace for bitcoin mining ASICs. Intel filed a patent in November 2018, which outlines similar ideas for “high-performance Bitcoin Mining.”.
In accordance with the patent, the processing engine behind Bonanza Mine will be able to finish calculations at the same speed as other ASICs while avoiding the need for repetitive or redundant computations. The proposed system is expected to reduce overall power consumption by approximately 15%.
Bitcoin is usually mined using ASICs, which is a special type of processor that is meant to execute only a specific type of workload. ASICs provide advantages in terms of efficiency and performance over more complex types of chips, such as CPUs and GPUs, that can perform similar tasks. This has had a profound consequence on Bitcoin mining, with the overwhelming majority of it occurring on ASICs, which are provided at hefty premiums by companies like Bitmain.
In 2018, Intel first began revealing its interest in hard mining hardware, as it applied for a patent for a specialized processing system that utilizes an optimized version of the SHA-256 algorithm (a cryptographic algorithm) for high performance Bitcoin mining. It is important to note that any patent takes some time to produce a commercially usable product, but Intel has accumulated considerable experience in hardware-assisted SHA-256 algorithms due to the fact that it uses these instructions in its CPU products. The combination of Intel’s silicon production capabilities and its approach to low-power, high-efficiency operation may make it an interesting entry into the Bitcoin hardware market, especially given its pursuit of competitive market share.
Intel is likely to share information regarding the new hardware on Wednesday, February 23rd, at 7 am PST, based on the timing of their ISSCC presentation, as well as the topic of their presentation. According to the presentation listing, the ‘DS1’ moniker indicates that Intel will carry out a video demonstration of the new processor.
Nonetheless, it remains to be seen if Intel will release the Bonanza Mine chip as a product for the public or if it will remain a research project for the moment. In any case, given that this chip is part of the “Highlighted Chip Releases: Digital/ML” track , it’s logical to assume that these chips, or some variant thereof, might eventually be offered to customers.
