Update: Intel's Bitcoin-Mining Chip “Bonanza” Bags Mining Startup As First Client

Time:2022-01-21 Source: 3358 views Trending Copy share

According to FOX Business, Bitcoin mining company GRIID has secured a partnership with Intel, the world’s largest chipmaker, to mine Bitcoin using energy-efficient ways.


GRIID, based in Ohio, is slated to go public on the New York Stock Exchange via a SPAC merger in the coming weeks, with a valuation of $3.3 billion. The symbol for the stock will be “GRDI.”

Intel Enters Crypto Market With A Bang
On Jan 18, we reported that Intel will demonstrate a new “Bonanza Mine” ASIC, chip designer for ultra-low-voltage and energy-efficient Bitcoin mining, at the upcoming ISSCC conference. GRIID, a crypto-mining business due to go public on the NYSE for an estimated $3.3 billion in the coming days, has struck a long-term contract with Intel for its “BMZ2” mining ASICs, according to Fox Business.

GRIID made the announcement in its S-4 filing, which details its ambitions to build three industrial-scale facilities with a total capacity of 48 megawatts. According to the company’s filing, it has mining ASIC contracts with both Bitmain and MicroBT, but it has also “[…] has signed a binding supply contract with Intel to supply ASICs that will help us accelerate our expansion. GRIID will have access to a major portion of Intel’s future production volumes as part of the initial order, which will be delivered in 2022.”

The chips are marketed as “ultra-low voltage, energy-efficient Bitcoin mining ACIS” by Intel, although little else is known about the product.


by Anifowoshe Ibrahim

Disclaimer : The above empty space does not represent the position of this platform. If the content of the article is not logical or has irregularities, please submit feedback and we will delete or correct it, thank you!

Top News