“Tom's Hardware[1] broke the news yesterday that Intel would present a new ‘Bonanza Mine’ ASIC chip designed for ultra-low-voltage and energy-efficient Bitcoin mining at the upcoming ISSCC conference, but Intel would neither confirm nor deny if it would make the chip available to customers. Today, Fox Business reports [2]that crypto-mining startup GRIID, which is set to go public for an estimated $3.3 billion on the NYSE in the coming days, has signed a long-term contract with Intel for its ‘BMZ2’ mining ASICs. This means Intel will in fact compete with its own specialized ASICs for Bitcoin mining, opening up a new market that the company hasn't addressed directly in the past.”
ASICs utilized in bitcoin mining have been largely produced by two well-known companies: MicroBT and Bitmain. The specialization and expertise required to build, maintain and repair these machines has created a rather niche market, sometimes resulting in steep price increases[4] for the hardware needed to mine bitcoin and secure the network.
With Intel entering the Bitcoin mining space and introducing what it claims will be a revolutionary ASIC chip, this critical marketplace could be permanently transformed. Some in the space are optimistic about a U.S.-based technology company entering the fray, while others are dubious[5].
To get a better handle of how Intel might shake up the world of bitcoin mining, we spoke with Sue Ennis, the vice president of investor relations with Hut 8 Mining, a Toronto-based, publicly-listed mining firm.
On February 23, at the ISSCC conference, Intel will present its new ASIC mining chip. What was the initial response from Hut 8 upon hearing the news?
We were not surprised at all, and were anticipating this. Our CEO, Jaime Leverton, has
