Intel gets active in the Bitcoin mining business

The deal was detailed in Griid's S-4 filing from late December. As reported in November, Griid is preparing to go public via a special-purpose acquisition vehicle, or SPAC, a process that will value the firm at more than USD 3 billion.

The deal is notable as Intel will be making public details about its in-house work on energy-efficient Bitcoin mining ASICs, which are purpose-built chips designed for the energy-intensive mining process. The deal highlights the potential for Intel to obtain market share among US bitcoin miners.