Intel to Patent a BTC Mining Hardware 'Accelerator'

Thanks to the "accelerator", Intel engineers plan to reduce power consumption by 35% compared to traditional processors.
30 March 2018   839

Technology giant Intel is working on a hardware "accelerator" for mining, which will reduce energy costs in the production of bitcoin and other crypto-currencies. This is stated in the relevant patent application, the day before it was published by the US Patent and Trademark Office. This is reported by Coinndesk.

A document called "Bitcoin Mining Hardware Accelerator With Optimized Message Digest and Message Scheduler Datapath" describes a method for optimizing an existing mining process.

Because the software and hardware utilized in Bitcoin mining uses brute force to repeatedly and endlessly perform SHA-256 functions, the process of Bitcoin mining can be very power-intensive and utilize large amounts of hardware space. The embodiments described herein optimize Bitcoin mining operations by reducing the space utilized and power consumed by Bitcoin mining hardware.
 

Intel Patent Filing

 Thanks to the "accelerator", Intel engineers plan to reduce power consumption by 35% compared to traditional processors.

In addition, it is noted that the invention is not limited to the functionality of specialized integrated circuits (ASICs). In other words, the "accelerator" can be used in a number of different mining systems.

Bitmain May Earn Less Than Expected

Twitter users reports that Jihan Wu's team lowered the company's 2018 projected revenue from $ 8 billion to $ 3 billion
21 August 2018   113

A Twitter user BTCKING555 reported that his sources inside Bitmain, the largest manufacturer of mining equipment, say that Jihan Wu's team lowered the company's 2018 projected revenue from $ 8 billion to $ 3 billion.

BTCKING555 Twitter
BTCKING555 Twitter

At the same time he @'ed the strategic director of Blockstream Samson Mow and the famous crypto-enthusiast Whale Panda, who shared this information. It is noteworthy that Mow wrote that his sources confirm the statement of BTCKING555.

Samson Mow Twitter
Samson Mow Twitter

BTCKING555 also noted potential investors of Bitmain on the upcoming IPO - Sequoia Capital, IDG Capital and Temasek.

It was previously reported that losses in the second quarter of Bitmain could amount to $ 1 billion due to the large position of Bitcoin Cash and the Antminer S9 price drop.

Also, Japanese media corporation SoftBank denied information about its participation in financing Bitmain before the IPO.