Intel may soon enter the Bitcoin mining business with its new “Bonanza Mine” chip, described as an “ultra-low-voltage energy-efficient Bitcoin mining ASIC.” At present, little is known about the chip or Intel’s plans regarding it.
Intel has signaled that the next generation of Bitcoin mining rigs may ship with “Intel Inside” stickers, as the company has announced plans to at least discuss a “Bonanza Mine” chip for mining Bitcoin at an upcoming conference.
The upcoming program (PDF link) for the International Solid-State Circuits Conference includes a listing for “Bonanza Mine,” an “ultra-low-voltage energy-efficient Bitcoin mining ASIC,” a paper authored by three Intel employees. The listing was unearthed by Tom's Hardware.
So far, the program doesn't indicate whether or not Intel actually plans to ship Bonanza Mine as a finished product or as a research project. The listing, however, implies the latter. The lead author, Vikam Suresh, is described as a research scientist at Intel Labs, focusing on “high-performance and energy-efficient micro-architecture and circuit design for data encryption and authentication, design of cryptographic primitives for random number and key generation, and block-chain technologies and high-performance data compression.”
In December, Raja Koduri, senior vice president and general manager of the Accelerated Computing Systems and Graphics (AXG) Group at Intel, hinted at the company's plans for blockchain and that they would not include general-purpose CPUs or GPUs. That's probably not a surprise given that effective Bitcoin mining moved into ASICs long ago. It's because of this that some of the smaller coins have become popular, as general-purpose PCs can still somewhat compete with more specialized, well-funded mining organizations.
Koduri told streamer DrLupo that he wants to get a solid install base of its new Arc GPUs, enough so that the company can attract attention from software developers. If those Arc GPUs are simply sitting in a mining farm, Koduri said, that goal isn't accomplished. The conversation then turned to specialized Bitcoin hardware. You can tune in to their conversation below:
Intel hasn't indicated what the hash rate will be, the estimated power, and whether the ASIC would be optimized for Bitcoin only. In any event, we'll know more on Feb. 23 at 7:00 AM when Bonanza Mine is scheduled to be unveiled at ISSCC. The conference is all virtual, given the pandemic.
Intel, a chip giant manufacturer, appears to be contemplating about entering into the Bitcoin mining hardware business. However, that might not be part of its upcoming GPUs.
ATOM coin price gives a bearish fallout of the rising expanding wedge pattern. But lack of follow-through halts the downfall. Cosmos utilizes a proof-of-stake consensus algorithm. Validator nodes who stake greater amounts of ATOM tokens have a higher chance of being selected to verify transactions and receive rewards. Nodes discovered to be dishonest are penalized and may lose the tokens they have to stake. Cosmos compares its native token with ASICs which are utilized in mining Bitcoin. In a technical paper composed by members of the Tendermint team, it was stated: “It is a piece of virtualized hardware (economic capital) that you need to obtain in order to participate as a keeper in the network.” Let us move ahead to read about Cosmos technical analysis. Past Performance of ATOM The ATOM coin price struggles to rise above the high selling pressure at $45 resulting in a downfall. The price action shows a free fall of more than 10% in the past 24 hours. The free fall leads to the formation of a bearish engulfing candle in the daily chart. However, the lack of bearish commitment evident by the fall in trading volume questions the dominance of bearish powers. ATOM/USD Daily Chart ATOM Technical Analysis The ATOM coin price action shows a bearish fallout of an ascending broadening wedge pattern in the daily chart. However, the high demand zone between $32 and $35 can result in a bullish reversal, driving the price back above the support trendline. Moreover, the support at the demand zone will result in a double bottom pattern in the daily chart. Therefore, a buying opportunity can arise at the support zone. Crucial EMAs (50, 100, and 200) rise higher in a bullish alignment in the daily chart. Moreover, the 50-day EMA stands strong near the $32 support zone and is ready to provide support to the downfall. The RSI indicator at 55% shows the slope creeping lower to the central line in the daily chart after the recent bearish crossover with the 14-day SMA. However, both the lines remain in the nearly overbought zone, suggesting the bulls are still influential. The Stochastic RSI indicator shows the K and D intermingled slightly above the oversold zone in the daily chart. However, the recent bearish crossover indicates a rise in selling pressure. From a technical perspective, the indicators maintain a slightly bearish consensus for the ATOM coin. However, the price action showcases a reversal possibility near the support zone. Upcoming Trend The bearish fallout of the wedge pattern in the daily chart increases the bearish attention for ATOM coin price. However, selling at current prices has a small target between $35 and $32 due to the support zone. Therefore, the fallout of the support zone can bring high selling pressure. However, the reversal from the zone can drive the prices higher above $45. The ATOM coin price chart suggests the next support levels at the zone between $32 and $35. And, if the bulls take over trend control, prices can find resistance at $45 and $60. At the time of writing, the technical analysis by tradingview reflects a rise in bullish sentiment as it gives a “BUY” signal. Technical Analysis for ATOMUSD by TradingView
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