Intel has confirmed it will enter the bitcoin mining space with its new ASIC, but when is the Intel Bitcoin Mining ASIC release date?
It is the likes of NVIDIA involved in cryptocurrency discussions given the GeForce RTX GPU's use in mining, and its launch of the NVIDIA CMP (Crypo Mining Processor). However, with this latest news, Intel may seek to corner the ever-growing Bitcoin mining market.
Here's what we know so far about the Intel ASIC miner.
Intel Bitcoin Mining ASIC Release Date
Intel has not yet released an official date on when the Bitcoin mining ASIC will be available for retail purchases. However, the International Solid-State Circuits Conference (ISSCC) session that is slated to go live on February 23, may deliver more light on the official release date.
As per the official agenda, Intel is likely to unveil a new "Ultra Low Voltage Energy Efficient Bitcoin Mining ASIC machine" known as Bonanza Mine to explore the domain of Bitcoin mining.
We'll keep this page updated as more information comes out about Intel's upcoming ASIC machine.
What Is Intel Bitcoin Mining ASIC
Intel had earlier filed a patent in 2018, highlighting similar specifications that explained the development of the Bitcoin mining machine. The specifications from the patent could make their way into the Bitcoin Mining ASIC.
According to the patent, the ASIC behind the Bonanza Miner will be equipped with the features to finish calculations just like other ASIC machines. The Bonanza Miner will also consume less power by reducing the overall power consumption by almost 15%.
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Application-Specific Integrated Circuit or ASIC miner machines are specialized computerized devices or hardware that are used for "mining" digital currency. Mining refers to the process of confirming bitcoin transactions on the blockchain through solving complex algorithms.
If Intel's Bonanza Mine ASIC launches soon, it will bring the company in direct competition with prominent bitcoin mining companies. These include the likes of Bitmain and MicroBT. As per recent announcements, the new Intel Bitcoin mining ASIC is set to release in the third quarter of 2022.