Will Intel ASICs Disrupt the Bitcoin Mining Game? If Tom's hardware numbers are correct, the answer is yes. "The company's mining hardware probably has the best price/performance ratio on the market," Tom says. But there's no guarantee that Intel will give mining company GRIID the same price as the average consumer.

In fact, there is no guarantee that GRIID is talking about the Intel Bonanza Mine in the SEC filing followed in this report. "A recent SEC filing by one of Intel's key partners reveals the pricing and performance of Intel's second-generation Bonanza Mine (BMZ2) bitcoin miner. " A few weeks ago, NewsBTC reported on Intel's first customers.

"We can't prove it, but all these companies probably knew years ago that Intel was planning to release a bitcoin mining chip. Again, Rajakoduri.

"Our blockchain gas pedal will ship later this year. We are directly engaging with customers who share our sustainability goals. Argo Blockchain, BLOCK (formerly known as Square) and GRIID Infrastructure are among our first customers for the upcoming product."

In a filing with the SEC, GRIID talks about "outstanding supply agreements with leading U.S. chip designers". Considering that Bitmain and Bitmicro are both Chinese, who else could they be talking about? I think it's Intel, right?

What does the SEC filler reveal about Intel's rich mine?

When the world first heard about Intel's ASIC ambitions, the company cleverly described these machines as "ultra-low voltage energy efficient. How efficient are they actually? Tom's hardware answered.

"According to the listing, the BMZ2 has a performance of 135 TH/s and an efficiency of 26 J/THs. In addition, the miner costs roughly half of the competitor's Bitmain S19 Pro while being 15% more efficient, rivaling the best hardware on the market from rival companies."

This puts it at the top of the food chain in terms of power; "second only to Bitmain's S19j XP system" and "by a small margin". However, Intel's ASIC efficiency has also improved by 15%. "The BMZ2 system has a competitive peak performance of 135 TH/s. Some basic math suggests the system is running at about 3510W."

BinanceUS BTC price chart as of January 3, 2022 | Source: BTC/USD on TradingView.com Perfect, but how expensive will it be?

In terms of pricing, this is where Intel's new machines will shine. Because they will likely be made in the United States, Intel won't have to deal with "25 percent tariffs on products originating in China and the risk of volatility associated with a longer supply chain. As a result, the company is positioned to win in the West.

Ok, but what is the actual cost of the ASIC? Tom's hardware again.

"GRIID says the new Intel mining system will cost $5,625 per miner. Given that GRIID has guaranteed access to 25% of Intel's capacity, we expect the company to benefit from volume pricing. In either case, that's about half the price of the $10,455 Bitmain S19j Pro, but it's worth noting that the S19j Pro's price fluctuates widely."

Will the average consumer get the same price as the GRIID? Probably not. But the numbers seem promising. Their customers don't have to wait for their ASICs to arrive from China.

Conclusions and questions

Last week, NewsBTC quoted Intel CEO Pat Gelsinger as saying

"Intel is about to launch a blockchain chip with significantly higher performance. In terms of power performance, this is several orders of magnitude better. So we're helping to solve the climate problem."

Are these specifications sufficient to address climate change? Will 15% efficiency stop global warming? Probably not. It's a huge improvement, but maybe Gelsinger shouldn't have made such a big commitment.

In the cited SEC filing, GRIID shelves the company's competitive advantages. One of them is that "chip supply agreements with U.S. Fortune 50 companies ensure unparalleled access to mining hardware." The deal GRIID struck with Intel could become increasingly important as time goes on. If the machine is as good as the specs suggest, that is.

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