Intel Launches Blockchain Chip to Tap Crypto Boom

Bitcoin mining and NFT minting have become increasingly popular in recent years, and Intel has taken advantage of this trend by releasing a new chip for blockchain applications on February 11.

Early adopters of the chip include Block Inc (SQ.N), a company led by Jack Dorsey that recently changed its name from Square Inc to better reflect its increasing interest in the blockchain technology.

Intel’s chip is an energy-efficient “accelerator” meant to speed up blockchain processes that require a lot of computer power and so waste a lot of energy, according to the company.

Nvidia Corp (NVDA.O), a chip creator whose graphics cards are extensively used for mining, also offers an Ethereum mining chip.