Solana’s price saw a massive hike after the flagship Android smartphone called “Saga” was released by Solana network. The phone represents Solana’s entry into the […]
CloudSigma, a pure-cloud infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) provider, and Super Protocol have partnered up to bring the confidential cloud to Web3 users. As per the announcement, this partnership will allow the Super Protocol team to take the next step toward creating a marketplace where users can work with solution providers such as CloudSigma. CloudSigma […]
To many crypto enthusiasts, Monero is the synonym for privacy. Monero (XMR) is an open-source, decentralized cryptocurrency that was created in April 2014. This crypto…
The post Monero Mining: Full Guide on How to Mine Monero appeared first on Cryptocurrency News & Trading Tips – Crypto Blog by Changelly.
Intel’s new bitcoin mining chip, the Intel Blockscale ASIC, will ship in Q3 2022 to select customers.
Comparing Bitcoin to barbed wire from Timothy May’s “Crypto Anarchist Manifesto” can give insight into the gravity of this seemingly abstract invention.
Notwithstanding the issues and turbulence in the crypto sector, operators are still enthusiastic and forward-thinking about it. Even though it seemed that mining activities would see a decline given the China crackdown last year, recent developments tell a different story. One of the reasons for frowning at mining activities was too much power consumption. So […]
Liquid-cooled mining machines from Chinese chipmaker Bitmain have been unveiled. The S19 XP HYD is expected to be one of the company’s most energy-efficient models ever. The new mining setup employs liquid cooling. According to reviewers, it is the most power-efficient among all models of mining equipment from this manufacturer. These hydro cooling rigs are exclusively for usage in Bitmain containers. Bitmain Rig Packs A Punch The newly announced mining rig is dubbed “Antminer S19 XP Hyd.” It boasts 255 terahashes per second (TH/s) of processing power and 20.8 joules per terahash (J/T) of power efficiency while operating on 5,304 watts, according to Bitmain’s website. The machine features a liquid cooling system, which involves using a coolant flowing through pipes to dissipate heat from the device. The cooling rigs will launch in the first quarter of 2023 for a little under $20,000 per unit. Related Article | Abra CEO Predicts Ethereum Could Reach $40,000 – But Some Fintech Analysts Don’t Agree Furthermore, the energy efficiency of this new model slightly outperforms Bitmain’s previous best rig – the Antminer S19 XP. Notably, Bitmain has also announced the release of the ANTSPACE HK3, a new bitcoin mining container that can comfortably accommodate 210 mining machines and uses up to 1 megawatt of electricity. Aiming For Sustainable Bitcoin Mining Bitmain has been focusing on long-term bitcoin mining and has recently unveiled measures in this area. Bitmain will create up to 500 MW of clean digital mining infrastructure at Merkle Standard’s hydro-powered facilities in Eastern Washington as part of the joint venture. BTC total market cap at $767.68 billion on the daily chart | Source: TradingView.com Furthermore, the Beijing-based chipmaker has gained a significant stake in one of America’s major crypto-mining facilities via a collaboration with Allrise Capital. The move might help Bitmain’s market expansion in the United States even further. According to mining data, the bitcoin mining metrics have seen some intriguing developments in recent months, as the Bitcoin hashrate grew by more than 15% in a week as processing power steadily increased. Energy Efficient Mining Meanwhile, Block Inc.’s CEO, Jack Dorsey, revealed last October that the firm was exploring developing an open-source bitcoin mining system built on bespoke silicon to decrease entry barriers for both businesses and people. In January, Thomas Templeton, Block’s general manager for hardware, emphasized that the planned approach would improve bitcoin mining efficiency and other benefits. Templeton said: “We’re interested because mining is about more than just producing new bitcoin. We regard it as a long-term need for a decentralized and permissionless future.” In a related event, Hive Blockchain had signed an arrangement with Intel to acquire the latter’s recently introduced energy-efficient blockchain accelerators named Bonanza Mine. Related Article | Ripple Welcomes More Than 4,000 Artists Into Its New NFT Platform Featured image from Bitcoin News, chart from TradingView.com
Hailing as the first publicly traded crypto miner platform, Hive Blockchain has locked a strategic deal with the American technology giant, Intel to purchase new ASIC chips. The supply agreement signed by Hive Blockchain with Intel forms an important part of the former’s expansion plans focused on the fast-growing community of crypto users in the…Read More
The ESG-focused mining company HIVE is the latest organization to sign a deal with Intel. It joins Block, Argo Blockchain, and GRIID, as the first clients and testers of the giant’s new ASICs. Intel’s Bonanza Mine project is quickly becoming one of bitcoin’s stories of the year. It’s funny that, so far, no one has seen the equipment. The idea of a bitcoin miner made in the US is appealing, though. Plus, the project’s rollout has been masterful so far. The headline here is that “HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine.” In a recent press release, the company announced the Intel deal and its intention to expand into the US. “The Company is planning for a 100 MW deployment at one of Compute North’s renewable energy campuses in Texas.” HIVE self-proclaimed itself “the first cryptocurrency mining company with a green energy and ESG strategy”. The company’s other significant characteristic is that they’re holders. “Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards.” That goes in line with new data that shows that miners are quietly accumulating bitcoin as the market bleeds. BTC price chart for 03/08/2022 on Capital.com | Source: BTC/USD on TradingView.com What Do We Know About HIVE ‘s Deal With Intel? Not much, really. “HIVE has entered into a Supply Agreement with Intel which is one of the world’s largest semiconductor manufacturers, for their upcoming blockchain accelerator.” Notice how HIVE calls the ASICs “blockchain accelerators,” just as Intel did in the company’s blog. Will the name catch on? The press release doesn’t specify how many bitcoin miners will HIVE buy, but, it provides some relevant data: “These miners are expected to be delivered over a period of one year starting in the second half of calendar 2022, the effect of which, if they are all installed, would be an expected increase of up to 95% in our aggregate Bitcoin mining hashrate from 1.9 Exahash per second.” It also quotes HIVE ‘s president, Aydin Kilic, who about the deal said: “After months of careful planning, we are very excited to take this step forward with a global technology leader like Intel. HIVE is committed to implementing these next-generation blockchain accelerators in its green energy infrastructure.” The ESG aspect of the whole endeavor is another important point here. Bitcoin Keeps Going Greener And Greener Recently, GRIID’s filling with the SEC revealed several characteristics of Intel’s new bitcoin miners. As always, NewsBTC got you the 411: “When the world first heard about Intel’s ASIC ambitions, the company cleverly described the machines as “ultra-low-voltage energy-efficient.” How efficient will they actually be? Tom’s hardware answers: “According to the listing, BMZ2’s performance weighs in at 135 TH/s with 26 J/THs of efficiency. Additionally, the miner is roughly half the cost of a competing Bitmain S19 Pro while being 15% more efficient, rivaling the best hardware on the market from competing companies.” Would 15% really make that much of a difference? If it can rival the S19 Pro, it would. And Intel wouldn’t make this much noise if they didn’t have a winner in their hands, would they? Maybe HIVE ‘s president, Aydin Kilic, can shed some light on that: “Intel’s energy-efficient and high performance blockchain accelerator is expected to reduce our power consumption over current ASIC miners on the market. HIVE will participate in the system development process from design verification, through to the prototype stages, and then factory & test engineering regimens to arrive at a production model; we are well-positioned and excited to undertake the process ahead.” That’s right, the first few clients will help with the testing and development of Intel’s final product. That makes all the sense in the world. Let’s wish them luck, because an ASIC miner made in the US would certainly help break Bitmain’s quasi-monopoly. The bitcoin ecosystem needs more decentralization in that aspect. Featured Image: HIVE’s logo, screenshot from this video | Charts by TradingView
Intel played a big role in President Biden ’s State of the Union address. He highlighted the company’s plan to manufacture semiconductor chips in Ohio, and said, “Make more cars and semiconductors in America. More infrastructure and innovation in America.” Was he secretly approving Intel’s plan to produce ASIC bitcoin miners? Or did he not know that those semiconductors are an integral part of those machines? Make no mistake, semiconductor chips or integrated circuits are an integral part of almost every technological device around you. And Intel is a huge company with many products and many clients. Those semiconductors Intel is planning to produce will go everywhere. However, there’s no denying that ASICs are a big part of the company’s future plans. Recently, NewsBTC quoted Intel’s CEO Pat Gelsinger saying: “Intel is about to bring forward a blockchain chip that’s dramatically better. That is orders of magnitude better in terms of power performance. So, we’re helping solve the climate issue.” Exaggerations aside, Pat Gelsinger was a big part of President Biden ‘s State of the Union address the other day. What Did President Biden Say About Intel? One of Biden ‘s big success stories was Intel’s $20B investment in Ohio. The plant they plan to build will manufacture semiconductor chips. There’s a global shortage for those, and more than 170 industries depend on them. Nowadays, China, South Korea, and Taiwan are the main producers of integrated circuits. And those factories are working full time to fulfill an ever-increasing demand. Enter Ohio. As The Columbus Dispatch put it: “Intel plans to employ 3,000 workers at an average salary of $135,000. The project is also expected to create 7,000 construction jobs and 10,000 indirect jobs.” They also quote President Biden channeling his inner poet: “If you travel 20 miles east of Columbus, Ohio, you’ll find 1,000 empty acres of land. It won’t look like much, but if you stop and look closely, you’ll see a ‘field of dreams,’ the ground on which America’s future will be built.” And then and there, he mentioned Pat Gelsinger by name, as the man to make it happen. President Biden didn’t mention bitcoin mining, though. BTC price chart for 03/03/2022 on Bitstamp | Source: BTC/USD on TradingView.com The U.S.’s Plan To Manufacture Semiconductors The global chip shortage presents an obvious opportunity, and the U.S. wants to take advantage of it. Intel´s play is part of a bigger move. In the article “Bitcoin Mining And The Global Semiconductor Shortage Are On A Collision Course,” security expert Shinobi informed us: “The United States Senate has recently passed the “U.S. Innovation and Competition Act,” which will spend $52 billion dollars on increasing domestic semiconductor fabrication capacity, and the “CHIPs for America Act” being introduced in the Senate to create income tax credit for semiconductor companies.” So, Intel is going to benefit from all of that. Plus, they´re going to use those semiconductor chips to aggressively step into the bitcoin mining business. A business traditionally controlled by Chinese companies Bitmain and MicroBT. Can Intel compete with them? According to a recent SEC filing NewsBTC reported on, they can: “When the world first heard about Intel’s ASIC ambitions, the company cleverly described the machines as “ultra-low-voltage energy-efficient.” How efficient will they actually be? Tom’s hardware answers: “According to the listing, BMZ2’s performance weighs in at 135 TH/s with 26 J/THs of efficiency. Additionally, the miner is roughly half the cost of a competing Bitmain S19 Pro while being 15% more efficient, rivaling the best hardware on the market from competing companies.” To better understand the plan, let’s quote Shinobi once again: “The dynamics of who can and can’t produce semiconductors in general is already coming to the forefront of politics as nations realize the importance of minimizing reliance on foreign actors to maintain such capacity. It is only a matter of time before how these issues relate to Bitcoin mining starts to come to their attention as well.” President Biden And Intel Are Not Playing Around As you can see, both President Biden and Intel have an ambitious game plan. Is bitcoin mining a part of the plan? In Intel’s case, the answer is an obvious yes. On the other hand, Joe Biden didn´t even mention the topic in his speech. It was always there in the background, though. At least according to us. Let’s close with another quote from Biden ‘s State of the Union address: “I have a better plan to fight inflation. Lower your costs, not your wages. Make more cars and semiconductors in America. More infrastructure and innovation in America.” That’s great, but… about that “plan to fight inflation”… what about stopping the rampant money printing? Featured Image: President Biden’s State of the Union address, screenshot from this video | Charts by TradingView
On-chain data shows Bitcoin investors haven’t moved large amounts to exchanges in response to the Russia-Ukraine war (at least for now). Bitcoin Exchange Reserve Doesn’t Spike Up Following The War Breakout Between Russia And Ukraine As pointed out by an analyst in a CryptoQuant post, the BTC reserve hasn’t moved significantly after the news of the Russia-Ukraine war. The “all exchanges reserve” is an indicator that measures the total amount of Bitcoin sitting in wallets of all exchanges. When the value of this metric rises, it means exchanges are receiving net inflows as investors deposit their coins. Such a trend is usually bearish for the price of the crypto as holders generally transfer their coins to exchanges for selling them. On the other hand, a falling reserve implies exchanges are observing more outflows at the moment. This kind of trend can be bullish as holders usually withdraw their coins for hodling purposes. Related Reading | Quant Explains How Bitcoin NUPL Can Help Predict Bull Cycles Now, here is a chart that shows the trend in the Bitcoin exchange reserve over the past few days: Looks like the value of the indicator hasn’t seen any significant change over the last day | Source: CryptoQuant As you can see in the above graph, the Bitcoin exchange reserve hasn’t increased that much since the start of the Russia-Ukraine war. The price, though, has still observed a very sharp plunge down. This means that the majority of the sellers have to be those who were already keeping their coins on exchanges, planning in advance to sell them in case war broke out. Related Reading | What’s Intel CEO Pat Gelsinger Saying While Promoting The Bitcoin Mining Chip? Large inflows are common following big bearish news like this one. However, there haven’t been any such inflows yet. This would imply that those storing their coins in personal wallets haven’t panic transferred their Bitcoin to exchanges for selling, yet. The quant in the post believes that things may very well change in the coming hours, but for now, BTC hodlers outside the exchanges seem to be holding strong. BTC Price At the time of writing, Bitcoin’s price floats around $35.1k, down 18% in the last seven days. Over the past thirty days, the crypto has lost 12% in value. The below chart shows the trend in the price of BTC over the last five days. BTC’s price seems to have crashed down over the past day | Source: BTCUSD on TradingView In the plunge that followed the war breakout between Russia and Ukraine, the price of Bitcoin touched as low as $34.4k before quickly jumping back a little and recovering to the current levels. Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
While a new chip is upcoming, Intel shared information about its past product exploration in bitcoin mining chip design.
What is Intel ’s Pat Gelsinger doing? Who is he talking to while promoting Intel’s new bitcoin mining chips? In a recent Bloomberg interview, Gelsinger uses every ESG buzzword in the book to promote their “energy-efficient ASIC chip.” Is this the right strategy? Who will be Intel’s clients? And why is this man lying about bitcoin’s energy consumption when the real numbers would do just fine? The host, Emily Chang, starts by asking him about 2019, when the Intel CEO said that Bitcoin was badly designed, “extreme, and climate intolerant.” Does Gelsinger still hold that opinion? Of course, he does. And that’s just the beginning. Intel CEO regurgitates ESG FUD talking points while shilling for his new #Bitcoin mining chip. Feb 14 2022 pic.twitter.com/x7r31FCwp9 — 🐝🇸🇻⚡BITC0IN 🐦🐦🐦 (@BITCOINALLCAPS) February 17, 2022 The Intel CEO Is Here To Fix Bitcoin Gelsinger starts by saying that when he misdiagnosed bitcoin that one time, “most of the uses where illicit.” In 2019? Nothing could be further from the truth, Sir. Bitcoin’s first use case, the unbanked, were discovering the solution to their problem little by little. And the seeds for everything that has happened in the last few years were already planted. Was bitcoin also used for illicit purposes? Of course. Bitcoin is money for your enemies. Everyone can use it. Another thing the Intel CEO believed about bitcoin is that “it couldn’t be regulated, so it couldn’t become a currency for nations and for people to use broadly.” Well, considering it’s already currency in one nation, El Salvador, we could say that Gelsinger’s predictions are pretty much off the mark. The idea of an American ASIC mining chip, though, that’s a great one. And if it consumes less energy, so be it. Even though people will probably just push the pedal to the metal and mine more. In any case, the Intel CEO informs us that one of the company’s mantras is that they’re “shaping technology as a force for good.” It sounds like Google’s “Don’t be evil,” and we all know how that turned out. In any case, Gelsinger thinks the easily debunkable attack points he exposed make bitcoin a controversial character. However, “that doesn’t mean it’s not a good technology, but we’re not using it good yet.” So, Intel is here to fix it. BTC price chart for 02/19/2022 on Fx | Source: BTC/USD on TradingView.com What’s Gelsinger Promising, Exactly? One thing’s for sure, Intel is very confident about their product. The CEO said: “Intel is about to bring forward a blockchain chip that’s dramatically better. That is orders of magnitude better in terms of power performance. So, we’re helping solve the climate issue.” Are they, though? In any case, a “dramatically better” chip is always welcome. When the company announced their first clients, we quoted their press release: “Today, we at Intel are declaring our intent to contribute to the development of blockchain technologies, with a roadmap of energy-efficient accelerators. Intel will engage and promote an open and secure blockchain ecosystem and will help advance this technology in a responsible and sustainable way.” And we, jokingly and earnestly, applauded their efforts: “That’s right, they’re tackling the problem “in a responsible and sustainable way.” And they’re calling the mining chips “accelerators” for some reason.” However, the Intel CEO raises doubts. “We want to work with the industry to find ways that technologies like blockchain can be properly regulated, managed, as well. So they truly can be fully realized,” he said. Forgetting that Intel just arrived to the space and was here to make chips. “This is one of those areas that, yeah, we’re going to work on fixing this one. Because this is a powerful technology. An immutable leveraged digitized entry system can transform currency, transactions, supply chain, so, yeah, this one is exciting.” This man doesn’t have the faintest clue about bitcoin’s real power. And, what’s an “immutable leveraged digitized entry system” anyway? There’s a popular saying in the bitcoin community: “You don’t change bitcoin. Bitcoin changes you.” It seems like Intel is going to find that to be true the hard way. Featured Image: Gelsinger on Bloomberg, screenshot from this video| Charts by TradingView
Intel ’s play to get into the bitcoin mining market might end up being the story of the year. In a post titled “Blockchain and the New Custom Compute Group,” Raja Koduri reveals a little of the company’s playbook. At Intel, he’s the senior vice president and general manager of the Accelerated Computing Systems and Graphics Group. Related Reading | Jack Dorsey’s Block To Democratize Bitcoin Mining With Open Source Mining System In the article, Koduri says, “we are focusing our efforts on realizing the full potential of blockchain by developing the most energy-efficient computing technologies at scale.” Intel’s play is deeper and harder than previously thought. They’re going all-in in the blockchain business. With a twist that every corporation is claiming for. “Today, we at Intel are declaring our intent to contribute to the development of blockchain technologies, with a roadmap of energy-efficient accelerators. Intel will engage and promote an open and secure blockchain ecosystem and will help advance this technology in a responsible and sustainable way.” That’s right, they’re tackling the problem “in a responsible and sustainable way.” And they’re calling the mining chips “accelerators” for some reason. Will the name catch on? “Intel Labs has dedicated decades of research into reliable cryptography, hashing techniques and ultra-low voltage circuits. We expect that our circuit innovations will deliver a blockchain accelerator that has over 1000x better performance per watt than mainstream GPUs for SHA-256 based mining.” This new line of Intel products responds directly to the ESG crowd. The bitcoin-consumes-too-much-energy FUD people. Soon enough, they’ll have to face Intel ’s PR machine. How can bitcoin consume too much energy if Intel’s product “has over 1000x better performance per watt than mainstream GPUs for SHA-256 based mining”? BTC price chart for 02/14/2022 on Kraken | Source: BTC/USD on TradingView.com Who Are Intel ’s First Clients? We can’t prove it, but, all of these companies probably knew years ago about Intel’s plans to release a bitcoin mining chip. Again, Raja Koduri: “Our blockchain accelerator will ship later this year. We are engaged directly with customers that share our sustainability goals. Argo Blockchain, BLOCK (formerly known as Square) and GRIID Infrastructure are among our first customers for this upcoming product. This architecture is implemented on a tiny piece of silicon so that it has minimal impact to the supply of current products.” When NewsBTC analyzed Intel’s chip announcement, we summarized the situation as: “This could be huge. Intel plans to enter the Bitcoin mining space with a cleverly marketed “ultra-low-voltage energy-efficient” ASIC chip. Considering that the chip shortage severely delayed the next generation of ASIC miners, this is tremendous. And, more importantly, it opens up the door for Bitcoin miners manufacturing in the USA. And in the rest of the Western world, even. ” After that, we analyzed the situation’s implications: “Now, the open-source Bitcoin miner that Jack Dorsey’s Block is working on makes a lot more sense. Theoretically, the silicon chip is the only part of an ASIC machine that can’t be bought in a hardware store. With that problem solved, by no less than an industry leader with immense manufacturing power, the sky’s the limit. If this whole thing materializes, expect a huge leap forward in the further decentralization of Bitcoin mining.” Notice how Block is one of the first clients. And how Intel had the energy-efficient ASIC chip marketing ready from the get-go. And how Koduri even addressed the chip shortage in the last line there. Intel’s Bonanza Chip’s Future Reading between the lines, it’s clear that this is not a secondary project for Intel. They have high hopes for this low-energy chips play. Here, Koduri discusses the Custom Compute Group: “The objective of this team is to build custom silicon platforms optimized for customers’ workloads, including blockchain and other custom accelerated supercomputing opportunities at the edge. Onward, we aspire to leverage technologies from our zetta-scale computing initiative to deliver energy-efficient solutions.” Related Reading | Green Energy: In NY, Bitcoin Mining Saved The Oldest Working Hydroelectric Plant You read it here first, Intel ’s play to get into the bitcoin mining market might end up being the story of the year. This is not financial advice, though. Featured Image by geralt on Pixabay | Charts by TradingView