Receive all Bitcoinist news in Telegram! Intel Corporation is interested in developing specialty hardware for the mining of Bitcoin, which may help small-time miners once again turn profits. A System on Chip implementing a Bitcoin mining hardware bitcoin mining profitability may include a processor core and a hardware accelerator coupled to the processor core.
In laymen’s terms, Intel’s new hardware would theoretically make Bitcoin mining less energy intensive, and thus more profitable. In addition to operating several of the world’s largest Bitcoin mining pools, Bitmain manufactures ASIC chips and the mining hardware that uses those chips. Intel, however, is set to add some competition for Bitmain’s centralized monopoly. Bitcoin mining is currently incredibly energy-inefficient and has proven to be less profitable the more the price of Bitcoin decreases. This, in turn, has forced out many small-time miners while increasing the stranglehold on the sector by large-scale operations, such as Bitmain.
However, Intel’s new technology could make small-time mining profitable once again and, in doing so, help wrest control from the hands of mining giants. Once this new Intel technology comes to market, ultimately more people will mine again because it’s profitable again, driving down the market value of the coins, and finding a new market balance that will again put locations with lower electricity costs back at the advantage. Intel has previously shown an interest in cryptocurrency. Last year, the semiconductor-producing giant partnered with Chinese firm Tencent for an Internet of Things blockchain solution. What do you think about the cost of Bitcoin mining?
Would you be interested in more energy-efficient mining solutions from Intel? Let us know in the comments below! Images courtesy of Shutterstock, Bitcoinist archives. In case you were wondering, neither Warren Buffett nor Jamie Dimon have changed their minds in regards to Bitcoin. Which one of you hates Bitcoin more?
Warren Buffett — an American business magnate, investor, and CEO of multinational conglomerate holding company Berkshire Hathaway — is one of the most notoriously bearish individuals in the traditional finance space when it comes to Bitcoin. 90 percent of Bitcoin Cash holdings are held as investments and never change hands, new research from Chainalysis revealed on June 8. 50 split between investments and transactions. Why do I have to complete a CAPTCHA?
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Another way to prevent getting this page in the future is to use Privacy Pass. Join over 94,000 students, learn all you need to know about Bitcoin. One Email a Day, 7 Days in a Row. Welcome to 99Bitcoins’ simple Bitcoin Mining Calculator This simple Bitcoin mining calculator will allow you to determine how much you can profit from a certain Bitcoin miner. It takes into account all relevant costs such as hardware, electricity and fees.