Share this article
Intel Launches Crypto Mining Initiative; Argo, Block to Get First Chips This Year
The chipmaking giant is ramping up its crypto mining offerings with a lineup of energy-efficient accelerators.
Updated Apr 9, 2024, 11:49 p.m. Published Feb 11, 2022, 4:31 p.m.
Make us preferred on Google
Semiconductor giant Intel (INTC) officially announced its crypto mining initiative on Friday, revealing that Argo Blockchain (ARGO) and Jack Dorsey-led Block (SQ) will receive the chipmaker's first mining chips later this year.
- In a Friday blog post, Senior Vice President and General Manager of Intel's Accelerated Computing Systems and Graphics Group Raja M. Koduri said Intel said will contribute to blockchain technology with a "roadmap of energy-efficient accelerators." Koduri said that the company is "mindful" that blockchains consume a lot of energy, which is why they are focusing on "energy-efficient computing technologies at scale."
- Intel first revealed that it was working on a mining application-specific integrated circuit (ASIC) dubbed "Bonanza Mine" in January, when a product release was included in the agenda for an upcoming semiconductor conference.
- An Argo spokesperson confirmed to CoinDesk that it had signed an agreement to buy Intel’s mining ASICs.
- Griid Infrastructure has also entered into a supply agreement for Intel's new mining ASICs. As part of the agreement, Intel has guaranteed that it will sell at least 25% of its mining ASICs production to Griid until 2025.
- The mining ASICs will offer "1000x better performance per watt than mainstream GPUs for SHA-256 based mining," Koduri wrote. Large professional miners mostly use ASICs for bitcoin mining, however, so the graphics processing unit (GPU) comparison may not be as meaningful for them.
- The chips are built on a "tiny piece of silicon" so that it won't impact Intel's supply of current products, Koduri noted.
- Intel also announced a Custom Compute Group within its Accelerated Computing Systems and Graphics unit, which will build custom silicon platforms for blockchain and other types of computing.
- Block, led by Twitter's founder, is building an open-source bitcoin mining system, aiming to make the network more decentralized.
- Cincinnati-based Griid is planning a $3.3 billion IPO on the New York Stock Exchange through a merger with a special purpose acquisition vehicle (SPAC).
STORY CONTINUES BELOW
Read more: Intel to Unveil 'Ultra Low-Voltage Bitcoin Mining ASIC' in February
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Deus X CEO Tim Grant: We aren't replacing finance; we're integrating it
The Deus X CEO discussed his journey into digital assets, the company's infrastructure-led growth strategy, and why his Consensus Hong Kong panel promises "real talk only."
What to know:
- Tim Grant entered crypto in 2015 after early exposure to Ripple and Coinbase, drawn by blockchain’s ability to improve traditional finance rather than replace it.
- Deus X combines investing and operating to build regulated digital finance infrastructure across payments, prime services, and institutional DeFi.
- Grant will be speaking at Consensus Hong Kong in February.
Top Stories
