it’s official, intel is part of the bitcoin mining business. The tech giant announced its “ultra-low-voltage, energy-efficient” ASIC chip just six months ago, and now it’s here. Under normal circumstances, infrastructure support from a multinational company like Intel would be tremendous for the bitcoin market. How will he react in the midst of all this chaos? will he react at all? the news didn’t do much right away, but the long-term effect remains to be seen.
the intel axg custom compute team is now shipping the block scale asic! the first product will always be unforgettable, congratulations team👍 excited to see how @argoblockchain @griid and @hiveblockchain improvise around block scale and our open design. pic.twitter.com/0rxtntlmfw
Reading: Intel bitcoin mining
– raja koduri (bali makaradhwaja) (@rajaxg) June 29, 2022
raja koduri, senior vice president of intel’s architecture, graphics, and software (iags) division, recently tweeted:
“intel axg custom compute team is now shipping the block scale asic! first product will always be unforgettable, congratulations team. I’m excited to see how argo, grid and hive improvise around block scale and our open design.”
noticeably absent from the list is jack dorsey’s company block. does that mean anything or is the block just the fourth on the list? three months ago, the bitcoiner quoted raja koduri as saying emphatically:
“Our blockchain accelerator will ship later this year. We are directly engaged with customers who share our sustainability goals. argo blockchain, block (previously known as square), and grid infrastructure are among our first customers for this upcoming product.”
bitcoin miners react to intel announcement
hive, the green mining company, was the first to react, tweeting: “hive is proud to partner with intel, and we can’t wait to put the new asics to good use for btc mining!” A few months ago, the company was much more eloquent in a press release cited by newsbtc. “These miners are expected to be delivered within a one year period beginning in the second half of calendar 2022, the effect of which, if all installed, would be an expected increase of up to 95% in our aggregate bitcoin mining hashrate of 1.9 exhash per second.”
$hive is proud to partner with @intel, and we can’t wait to put the new $btc mining asics to good use! https://t.co/qdwknu95mi
— hive (@hiveblockchain) June 29, 2022
for her part, argo also followed the easy way and tweeted. “thank you raja koduri and intelligence. we are excited to innovate these new asic chips in our custom plunge mining rigs. our thanks to epic blockchain for joining us on the journey.” That new player, epic blockchain technologies produce the self-proclaimed “ASIC platforms designed in North America”. therefore, innovation and customization are on the way.
thank you, @rajaxg and @intel. we are excited to innovate with these new asic chips in our custom plunge mining rigs. our thanks to @epicblockchain for joining us on the journey. https://t.co/pklxdjkm08
— argo (@argoblockchain) June 29, 2022
Last but not least, let’s remember the words of Raja Koduri when he started Intel’s bitcoin mining experiment:
“Today, we at Intel declare our intention to contribute to the development of blockchain technologies, with a roadmap of energy efficiency accelerators. Intel will participate in and promote an open and secure blockchain ecosystem and help advance this technology in a responsible and sustainable manner.”
remember that statement when we move on to the next section.
intelligence is mocked by the mainstream media
In the eyes of the mainstream media, bitcoin or anything related to it can’t do anything right. And this sort of bear market that we’re in gives them the perfect ammunition to attack the technology and the multi-billion dollar market that surrounds it. luckily, bitcoin doesn’t care. In the first main article on intel block scale asic chips early shipment, the log starts with valuable information:
“blockscale ships a couple of days before intel’s previously set Q3 release window, which starts on Friday. Even if it’s a small head start, it’s quite an achievement for a corporation that is becoming notoriously underprogrammed across multiple products, including Sapphire Rapids server chips and discrete Arc GPUs.”
just by then start diving into bitcoiners and smarts alike. start with this:
“Experts and company officials warn that the world of blockchain-powered digital currencies is entering a crypto winter, a period in which the value of virtual currencies plummets and remains low. the latter occurred between early 2018 and mid-2020.”
And then they spend 1000 words on the condition of the market instead of discussing Intel’s segmentation energy efficiency intentions. or the perfectly executed roll-out strategy that the company has exhibited in recent months. or the fact that bitcoin is humanity’s only hope.