It’s official, Intel is part of the Bitcoin mining business.huge tech company announced its “Ultra Low Voltage Only six months ago, “energy-efficient” ASIC chips were available. Under normal circumstances, the infrastructure support of a multinational company like Intel is huge for the Bitcoin market. How will it react in all this chaos? Will it fully react? The news didn’t have much immediate impact, but the long-term impact remains to be seen.
Blockscale ASICs are now available from the Intel AXG Custom Computing Team! The first product will never be forgotten, congratulations to the team👍
great to see how @ArgoBlockchain @grid and @HiveBlockchain Improvise around Blockscale and our open design. pic.twitter.com/0rxtNTLMfw
– Raja Koduri (Makaradhwaja, Bali) (RajaXg) June 29, 2022
Raja Koduri, senior vice president of Intel’s Architecture, Graphics and Software (IAGS) group, recently tweeted:
“The Intel AXG Custom Compute team is now delivering Blockscale ASICs! The first product will always be unforgettable, congratulations to the team. It’s great to see how Argo, Griid and Hive improvise around Blockscale and our open design.”
Notably, Jack Dorsey’s company BLOCK is not on the list. Does this mean anything, or is BLOCK just the fourth in the list? three months ago, Raja Koduri Quote from Bitcoin Emphasize that:
“Our blockchain accelerator will ship later this year. We engage directly with customers who share our sustainability goals. Argo Blockchain, BLOCK (formerly Square) and GRIID Infrastructure are the first of our upcoming products One of the batch of customers.”
Bitcoin Miners React to Intel’s Announcement
Green mining company Hive was the first to respond, tweeting: “HIVE is proud to partner with Intel and we can’t wait to get the new ASICs to mine BTC!” A few months ago, This company is in Quote Press Release NewsBTC. “These miners are expected to be delivered within a year starting in the second half of 2022, and if all installed, the effect will be that our total Bitcoin mining hashrate is expected to increase by 95% from 1.9 Exahash per second.”
— HIVE (@HiveBlockchain) June 29, 2022
For their part, Argo also took the easy route and tweeted. “Thank you, Raja Koduri and Intel. We are excited to innovate with these new ASIC chips in our custom immersion mining rigs. We thank ePIC Blockchain for joining us.” New player ePIC Blockchain Technologies produces a self-proclaimed “North American Design” ASIC RIG”. So innovation and customization are underway.
— Argo (@ArgoBlockchain) June 29, 2022
Last but not least, let’s remember Words from Raja Koduri at IntelThe Bitcoin mining experiment begins:
“Today, we at Intel announced our intention to contribute to the development of blockchain technology and developed a roadmap for energy-efficient accelerators. Intel will participate in and promote an open and secure blockchain ecosystem, and will be responsible and sustainable Ongoing ways to help advance this technology.”
Keep that statement in mind as we move on to the next section.
BTC price chart for 07/04/2022 on Bitfinex | Source: BTC/USD on TradingView.com
Mainstream media mocks Intel
In the eyes of the mainstream media, Bitcoin or anything related to it does not do well. And this bear market we’re in provides them with the perfect ammunition to attack technology and the multi-billion dollar market around it. Fortunately, Bitcoin doesn’t care. In the first mainstream article on Intel’s early delivery of its Blockscale ASIC chips, Registration begins Valuable information:
“Blockscale is a few days ahead of Intel’s previously announced third-quarter release window, which started Friday. Even if it’s a tiny start, it’s a huge step forward for a company that is working on multiple products including Sapphire Rapids server chips and discrete Arc GPUs, among others. ), it’s still an achievement for a company notorious for under-progress in terms of .”
Only then did the dunks on Bitcoin and Intel start. They start with this:
“Experts and company officials warn that the blockchain-powered digital currency world is entering a crypto winter, with virtual currency values plummeting and remaining low. The last time this happened between early 2018 and mid-2020.”
Then, instead of discussing Intel’s SEG power saving intentions, they use 1000 words to describe the state of the market. Or the flawlessly executed rollout strategy the company has demonstrated over the past few months. Or the fact that Bitcoin is humanity’s only hope.
Featured Image: Blockscale promotional image from this tweet | Charts by TradingView