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.
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
Больше для вас
Что нужно знать:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Больше для вас
ZKsync Lite to Shut Down in 2026 as Matter Labs Moves On
The company framed the move, happening in early 2026, as a planned sunset.
Что нужно знать:
- Matter Labs plans to deprecate ZKsync Lite, the first iteration of its Ethereum layer-2 network, the team said in a post on X over the weekend.
- The company framed the move, happening in early 2026, as a planned sunset for an early proof-of-concept that helped validate their zero-knowledge rollup design choices before newer systems went live.
Top Stories
