Intel gets active in the Bitcoin mining business

Thursday 20 January 2022 14:48 CET | News

Bitcoin mining company Griid has made a significant disclosure in December 2021: a deal with tech conglomerate Intel to provide it with hardware for crypto mining.

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. 

Redactions made in a publicly available copy of the supply agreement between Griid and Intel don't show the price of each chip or the performance metrics, including the per-chip hashrate or its power efficiency. Performance details will presumably be made public during the companies ‘next month's presentation.

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Keywords: Bitcoin, mining, blockchain, crypto
Categories: DeFi & Crypto & Web3
Companies: Griid, Intel
Countries: World
This article is part of category

DeFi & Crypto & Web3




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