Intel Patents Bitcoin Mining Chip to Reduce Energy Use

Press Release/News

  • News
  • 02 Apr 2018 12:00 AM
    • Intel Patents Bitcoin Mining Chip Accelerator to Reduce Energy Use Intel has filed a patent for a bitcoin mining hardware accelerator that would dramatically reduce the amount of electricity used to mine the cryptocurrency.

Intel Patents Bitcoin Mining Chip Accelerator to Reduce Energy Use

Mining bitcoin uses huge amounts of electricity to solve algorithms required to mine the coin. Some critics of cryptocurrency have called bitcoin mining an “environmental disaster”, while others have argued that the possibility for mining to be run off renewables makes its consumption irrelevant. As the price of Bitcoin began to drop at the beginning of 2018, individual mining of bitcoin became quickly difficult to financially sustain due to low coin price versus high electricity costs. Intel’s invention, however, could open up the possibility of financial success of small mining operations.

Posted by

Interesting Engineering

Copyright © 2018 Bursa Malaysia Berhad (30632-P). All rights reserved.