Intel (INTC) Challenges the Reign of Chinese Bitcoin Mining Rig Makers – Bloomberg

Intel (INTC) Challenges the Reign of Chinese Bitcoin Mining Rig Makers – Bloomberg

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  • Rig makers have seen historic profits amid Bitcoin price surge

  • Miners say Intel chip could lead to better clarity on prices

Intel headquarters in Santa Clara, California.

Intel headquarters in Santa Clara, California.

Photographer: David Paul Morris/Bloomberg

Updated on

Intel Corp.’s new Bitcoin mining chip may turn out to be the first major challenger to the Chinese rig manufacturers that have dominated the market for years. 

The Santa Clara, California-based chip making giant unveiled its crypto mining initiative earlier this month and the first generation BonanzaMine chip in January. Jack Dorsey’s digital payment company Block Inc., and two mining firms Griid Infrastructure and Argo Blockchain will receive the first batch of the chips later this year.

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