Intel Is Working on an Energy Efficient Bitcoin Mining System

Intel has obtained a bitcoin mining SHA-256 datapath patent that covers a processor and hardware accelerator. The United States Patent and Trademark Office awarded the patent.

Intel has obtained a bitcoin mining SHA-256 datapath patent that covers a processor and hardware accelerator. The United States Patent and Trademark Office awarded the patent.

The patented hardware is designed to provide greater mining energy efficiency by reducing the circuit area and power consumption. It achieves this by harnessing a series of hardware accelerators and targets various stages of the hashing process.

The system also features micro-architectural enhancements and utilizes selective hardwiring of parameters to alleviate the recurrence of computations, thereby reducing power consumption by up to 15 percent.

Photo: The Intel Nervana Neural Network Processor (credit: Intel)

In September, Intel had also filed a related patent application for a bitcoin mining hardware accelerator designed to lower energy consumption per hash while increasing performance per watt. The new innovation was aimed at minimizing the time required to find the 32-bit nonce in a bitcoin block.

The news comes in the wake of a bitcoin price fall that has led many miners to drop out due to diminishing returns. As the market nosedives, companies are working harder to acquire more efficient mining technology to reduce overheads.

Right now, bitcoin mining costs are going down due to the reduction of mining difficulty in tandem with falling hash rates. Thanks to the intellectual brilliance of Satoshi Nakamoto, the pseudonymous entity that developed the bitcoin network, its algorithm adjusts mining difficulty after every 2016 blocks.

As more miners turn off their machines, the process becomes easier and inherently consumes less energy.

Energy Efficiency a Growing Necessity in Bitcoin Mining

Although bitcoin now changes hands at about $3,400, a significant tumble from the $6,400 rate it held just a month ago, there is hope that more efficient devices and a sustained drop in mining difficulty will begin to favor smaller miners.

As tech companies focus on improving processing power and related technology used in hardware, mining farms have been forced to seek cheaper, renewable energy sources. This is in a bid to reduce energy consumption costs which significantly impact mining profitability.

It is expected that consistent development of more efficient crypto mining hardware by tech companies will stimulate the growth of the industry in the long-term.

This article by Elizabeth Gail was originally published at CoinCentral.com 

 

Read more

Comments

No comments to display.

Related posts

Stevia Dessert Industry 2019 Market Size, Growth, Share, Trends, Global Statistics and Forecast Analysis 2025

Stevia Dessert Market 2019 Global Industry Report delivers the Stevia Dessert business profiles, participants, news, developing activities and policies, consumer volume and creating strategies. Stevia Dessert industry also report delivers analysis on a region, products, sales, revenue. Stevia Dessert market report emphases on overall development patterns, focused on key industry players, size, consumption volume, Forecast 2019 to 2025.
17 hours ago

Hula Hoop Industry 2019 Global Market Share, Growth, Manufacturers, Size, Segments and 2025 Forecast

New research report on Hula Hoop Market 2019 Global Industry includes detailed analysis market trends, innovations, growth, and forecast 2025. The report presents market main objective of sharing this market research report is to provide an in-depth analysis of the market share, historical data, profitability, opportunities, sales, and revenue distribution. The research study offers current market size, manufacturers’ analysis and segmentation of Hula Hoop across the globe.
17 hours ago

Curling Irons Industry 2019 Market Size, Growth, Share, Trends, Global Statistics and Forecast Analysis 2025

The Curling Irons Market 2019 Global Industry report consists of all the basic information regarding the Curling Irons Market. This report presents analysis of market trends, industry growth drivers, share, analysis, size, trends, and many other aspects. The global Curling Irons report is an essential reserve of data, primarily for the industry administrators.
17 hours ago

Ukulele Market 2019 Share, Industry Impacting Growth, Global Segments, Manufacturers and Forecast to 2025

The latest research report entitled Global Ukulele Market 2019 provides a detailed and complete global coverage of Ukulele Industry analysis from 2019 to 2025. The Ukulele report begins with the overview of Ukulele Industry growth, share, current situation, trend, size, and classification of the Ukulele Industry on the basis of Ukulele Market top players, key regions, and type.
18 hours ago

Termite Control Market by Species Type, Application, Region - Forecast to 2022

The termite control market was valued at USD 2.96 Billion in 2016. It is projected to grow at a CAGR of 5.6% from 2017, to reach USD 4.11 Billion by 2022.

Call for Projects: PoweredByTF 2.0 Challenge!

Use our alpha release of TensorFlow 2.0 to do something nifty: build a model, a mobile or web application, an art installation, or something else entirely! The sky is the limit - and creativity is encouraged. We're excited to see what you build!
Application Deadline in 2 months

Rising Consumer Demand for Low-Calorie and Healthier Food & Beverage Products Drives the Polyol Sweeteners Market

The polyol sweeteners market is projected to reach USD 3.30 Billion by 2022 at a CAGR of 5.9% from 2017 to 2022.

Call for Proposals: Core Infrastructure Fund to strengthen internet freedom, digital security, and the overall health of the internet

The Core Infrastructure Fund supports the ‘building block’ technologies, infrastructures, and communities relied upon by digital security and circumvention tools strengthening internet freedom, digital security, and the overall health of the internet.
Application Deadline in a month

Joint Replacement Market Comprehensive Analysis and Future Estimations 2024

Joint Replacement Market report also provides CAGR value fluctuation in percentage during the forecast period of 2019-2024 for the market.
19 hours ago