Intel file patent for Bitcoin mining hardware with low power consumption.

Intel is exploring the creation of specialized hardware to extract Bitcoin, the popular cryptocurrency, according to a US patent application. UU Published last Thursday.

As you will remember, the patent was filed on September 23, 2016, it describes a Bitcoin mining hardware accelerator that can include a processor core with a hardware accelerator along with it.

In this sense, Bitcoin mining is the process of using powerful computer processors to record Bitcoin transactions in a public ledger, which is done when trying to solve cryptographic riddles. If a miner becomes the first to solve the puzzle and register the next transaction, he is rewarded with the recent launch of Bitcoin.

Of course, the high costs of energy and equipment associated with mining have questioned whether the activity can be profitable, especially since the price of Bitcoin has plummeted in recent months, as noted by Forbes. But that has not stopped people from accumulating equipment: a Coherent Market Insights report estimated the $ 610 million mining cryptocurrency market in 2016 and expects it to grow to $ 38 billion by 2025. Current problems faced by miners they have also encouraged companies and individuals to find new technologies and methods to make mining more efficient.

That's where Intel comes in. According to its new patent, the company based in Santa Clara, California, said it had devised a way to reduce "the space used and the energy consumed by Bitcoin mining hardware."

It was learned that Intel did not respond to a request for comments before the closing time of the present draft, but without a clutch it is news that helps improve the efficiency of equipment associated with mining, which is much needed.

Randy Copeland, president of Velocity Micro, a systems developer based in Richmond, Virginia and an Intel partner, told CRN that his company has built cryptocurrency equipment for universities, researchers and others interested in learning more about space, but doubts that mining can be a sustainable business in the United States due to the high costs of energy.

The information provided by the teacher by email was as follows. "Once this new Intel technology hits the market, ultimately more people will explode again because it is profitable again, reducing the market value of the currencies and finding a new equilibrium in the market that will put the locations back in advantage. with lower electricity costs.

On the other hand, Copeland said he expects blockchain computing, which is the decentralized ledger technology that Bitcoin relies on and can be used for high-security data transfers, likely to have more future with EE hardware customers and suppliers. . UU

At least one other solution provider has shown an interest in selling cryptocurrency mining equipment. This in order to diversify the options in this world of mining that looks increasingly competitive every day.

Maingear, a systems builder based in Kenilworth, N.J. and an Intel partner, said the company will soon launch a customized cryptocurrency platform later this year (the company is even accepting a digital currency called UnikoinGold as payment for all sales).

Wallace Santos, CEO of Maingear, did not respond to a request for comment.

For Intel, this is not the first time that the semiconductor company shows interest in the cryptocurrency and blockchain, as CoinTelegraph points out. Last year, the company unveiled three space partnerships, including the Chinese firm Tencent for an Internet chain of things solution.

In short, cryptocurrency mining is one of the industries that are necessary, in a globalized ecosystem all efforts are worth, of course blockhain-bitcoin technology has the possibility to set the course. It waits for new announcements.