Intel to launch an energy-efficient blockchain chip this year

Intel has plans to launch an energy-efficient blockchain chip this year to help organisations scale and realise the full potential of blockchain technology.

Intel Labs has dedicated decades of research into reliable cryptography, hashing techniques and ultra-low voltage circuits. We expect that our circuit innovations will deliver a blockchain accelerator that has over 1000x better performance per watt than mainstream GPUs for SHA-256 based mining, said Raja M Koduri, Senior Vice President General Manager, Accelerated Computing Systems and Graphics Group at Intel Corporation.

Argo Blockchain, BLOCK (formerly known as Square) and GRIID Infrastructure have  pre-ordered the chip from Intel.

Intel has created a Custom Compute Group within Intel’s Accelerated Computing Systems and Graphics business unit. The objective is to build custom silicon platforms optimised for customers’ workloads, including blockchain and other custom accelerated supercomputing opportunities at the edge.

Bitcoin currently consumes around 110 Terawatt Hours per year–0.55% of global electricity production and equivalent to the annual energy consumption of countries like Malaysia or Sweden.