Intel starts production of chips for cryptocurrency mining

The American company developing electronic devices and computer components Intel has announced the start of supplying ASIC chips for bitcoin mining.

This was announced by Raja Koduri, Vice President of Intel’s Software Division, on his Twitter account: «Intel AXG Custom Compute team is now shipping Blockscale ASICs. The first product is always memorable, congratulations to the team. Excited to see Argo Blockchain, GRIID Infrastructure, and HIVE Blockchain improvise with our ASIC chip.»

HIVE Blockchain Technologies, Argo Blockchain, GRIID Infrastructure, and Block are the first customers of ASIC chips.

Intel is not the only company interested in the production of mining chips. Recently, the global tech giant Samsung announced the start of production of chips based on a new 3-nanometer (nm) technology that can be used for cryptocurrency mining. Obviously, the companies have noticed the decline in mining profitability due to rising electricity prices and decided to act decisively in this direction.