Intel – among the top-tier computer processor manufacturers – reportedly has plans down its pipeline to introduce a new “Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC”, dubbed Bonanza Mine. 

Specifically, Intel reportedly completed the submission of a patent in November three years ago, carrying the same kind of ideas for “high-performance Bitcoin Mining”.

Suspicions arose regarding the processes described in the patent that potentially make their way into the product being shown off at the ISSCC.

As revealed by the patent, the ASIC behind the Bonanza Mine will reportedly have the capability of completing calculations with a similar level of effectiveness compared to other ASICs, while completely removing the necessity of repeated or redundant computations. 

This system is reportedly proposed to bring down the overall power consumption by an approximate amount of 15%.

The processors used for mining crypto have reportedly gained a reputation of being vulnerable to shortages and diminishing sales.

Intel would reportedly make itself a rival to firms such as Bitmain, with a proposed Ether ASIC still waiting for an official introduction, as well as Nvidia – a firm that also had to face several occurrences of declining chip sales.

Demand for crypto mining has reportedly seen a steady incline, regardless of constant processor shortages and inconsistent production costs. 

“Intel has done design work around SHA 256 optimized ASICs for several years beginning with pathfinding work done in Intel Labs.” Intel spokesperson shared the confidence associated with setting its foot in the crypto mining scene, and with the new chip.