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Block, Argo among customers for Intel’s Bitcoin mining ‘accelerators’

Intel announced on Friday that it would ship its blockchain accelerator later this year, with a roster of high-profile clients already on its books. 

In a post on its website, the US multinational said it was “declaring [its] intent to contribute to the development of blockchain technologies, with a roadmap of energy-efficient accelerators.”

Argo Blockchain, BLOCK (formerly known as Square) and bitcoin mining company GRIID Infrastructure are among its first customers.

It said it would engage and promote an open and secure blockchain ecosystem, aiming for sustainability while it develops its products. The tech will be implemented on a tiny piece of silicon so that it has minimal impact on the supply of current products.

Intel has been building up to such an announcement, quietly striking deals and making bids for patents on mining technology. In January, filings showed that GRIID had struck a deal to provide the conglomerate with hardware. Intel also revealed in January that it would debut what it called an “Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC”, dubbed “Bonanza Mine.”

In 2018, Intel won a patent for an energy-efficient bitcoin mining process. 

The latest move highlights the potential for Intel to obtain market share among US bitcoin miners. The US is home to the largest population of miners in the wake of China’s regulatory crackdown last year. 

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