Intel is Planning to Reveal An Energy Efficient Method For Bitcoin Mining

Intel is a popular tech company primarily known for being a producer of microprocessors. The company has made an eco-friendly choice by planning to present something new to the ISSCC (International Solid-State Circuits Conference).

Bitcoin’s effect on the environment

If you’re wondering why Intel decided to create a new form of Bitcoin miner in the first place, then you need to know how dangerous Bitcoin mining is to the environment. 

Creating a new Bitcoin isn’t easy which is where Bitcoin miners come in. They need to generate the correct hash or code for Bitcoin and the only way to do this right now is via trial and error. Sadly this consumes a lot of processing power which tends to heat up your computer or in this case, your Bitcoin Miner.

This taxes the miner so much in coming up with the right combination that it generates a lot of heat. The heat generated might not be much individually but there are thousands of Bitcoin miners out there in the world contributing to their own brand of global warming.

But wait! It gets worse! The excess heat created from Bitcoin miners gets worse as Bitcoin and other cryptocurrencies become more and more popular. This means that more people will be using Bitcoin miners in the future which means more excess heat in general.

This is where Intel comes in with their newly proposed Bitcoin mining ASIC that they will be presenting shortly. 

Intel Makes Bitcoin Mining Better

Things are looking great for both Bitcoin and the environment as numerous reports have indicated that Intel is planning to reveal their newer and more efficient method of mining Bitcoin called the Bonanza Mine.

The Bonanza Mine is said to be able to finish calculations as effectively as other Bitcoin miners but it eliminates redundant processes reducing computation power which leads to overall lower power consumption. Less consumption means less CO2 emissions which Bitcoin miners were notoriously known for. 

Conclusion

This is good news for the crypto community and environmentalists alike but we still don’t know if Intel is planning to mass-produce and sell the Bonanza Mine as of today so it’s best not to get your hopes up until their official announcement. 

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.