May 16, 2022

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Intel unveils second-generation Bonanza Mine chip for efficient Bitcoin mining

Intel unveils second-generation Bonanza Mine chip for efficient Bitcoin mining

Computer chip giant Intel Corporation has shared details of a new mining chip that will pair a high-performance 3,600-watt miner with the ultimate goal of improving Bitcoin (BTCmining efficiency.

Intel reveals second-generation BTC mining setup During IEEE International Solid State Circuit Conference (ISSCC) 2022, a conference dedicated to the electronics and chip industry.

According to the company, Bonanza Mine (BMZ2) is an ultra-low-voltage, energy-efficient ASIC Bitcoin mining tool that can deliver 40 Terahashes per second (TH/s).

Intel Bonanza Setup. Source: IEEE 2022

As Cointelegraph previously reported, Intel Patent Related to “High Performance Bitcoin Mining” It dates back to November 2018, which proposed to reduce the total energy consumption by about 15%. Intel representatives at that time showed their confidence in competing against well-known players, including Bitmain, MicroBT and Nvidia:

“Intel has done design work around SHA 256-enhanced ASICs for several years starting with pathfinding work done in Intel Labs.”

The BMZ2 chips are expected to follow an architecture similar to the first generation mining chip, BMZ1, with over 300 chips, powered by a 3600W miner, working together to deliver up to 40 TH/s in a balanced environment.

Intel’s next-generation BTC miner will be able to deliver a balanced performance of 40.4 TH/s by drawing 2,293 watts of power – registering a low power consumption of 56.97 Joules per Terahash (J/TH). When compared to Bitmain hardware, the Antminer S19j ASIC Bitcoin Miner consumes 3100 watts to deliver up to 90 TH/s at room temperature, resulting in an efficiency of 34.5 J/TH.

In addition, the device will also have the option to operate in high-performance and power-saving modes to improve the power-cost ratio across different degrees of mining efficiencies.

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Intel has not yet announced an official launch date along with the technical requirements for a second generation mining setup.

Related: Bitcoin difficulty reaches all-time high, hash rate up 45% in 6 months

The difficulty of mining the Bitcoin network maintains an upward trend, which shows a strong indication of the increased resilience against network attacks.

At its peak, Bitcoin recorded a hash rate of 248.11 Exahs per second (EH/s) on February 13 after Jumped 31.69% from 188.40 EH/sec in just one day.

Bitcoin hash rate over the past year. Source: YCharts

With the hash rate increasing, BTC mining hardware needs to evolve to offer higher performance while consuming relatively the same power.