“A thousand times more powerful than competitors”: Intel announced a new chip for mining – Bits Media

The new Intel chip should not only be several orders of magnitude more powerful than its competitors, but also less energy-consuming, They assure the company.

Intel CEO Patrick Gelsinger told Bloomberg in an interview, that the company plans to release a new GPU for mining cryptocurrencies are already in 2022 year. The processor is based on the SHA-256 algorithm, and its performance, as the developers expect, will exceed the performance of any current chips a thousand times.

Explaining the company's desire to release a more powerful chip, Gelsinger stated, that now one record in the blockchain consumes so much energy, how much would be enough, to power the whole house throughout the day. it, says the CEO, climate crisis.

According to the University of Cambridge, Now the Bitcoin network consumes about 125 TWh of electricity per year. It's so much more, than most countries in the world consume individually. At the same time, the amount of energy, necessary for the Bitcoin network, will only increase. According to Gelsinger, if in the future the industry learns to make much more efficient chips, then the crisis can be avoided.

Recall, last November, regulators from Sweden called on the European Union to completely abandon energy-intensive cryptocurrency mining, using a PoW consensus mechanism, and also ban the construction of data centers.