%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment %Intel ($INTC ) is developing a new chip designed to mine %cryptocurrencies that the company says will be “the most energy-efficient computing technology available at scale.” Intel’s first crypto-focused chip, which it calls a “blockchain accelerator” is set to ship later this year. Two companies have already pre-ordered the technology, including %Bitcoin ($BTC ) mining company GRIID Infrastructures and Block ($SQ ), the Jack Dorsey-owned fintech company formerly known as Square. Intel says more information about the chip will be made available at the International Solid-State Circuits Conference that starts on February 20. The company is scheduled to make a presentation at the show on February 23 titled “Bonanza Mine: An Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC.” ASIC, or application-specific integrated circuits, is a chip designed for one purpose such as cryptocurrency mining. The environmental impact of cryptocurrency mining has become a huge issue, and Intel’s new chip may be an attempt to address those concerns. Power-hungry mining rigs often get their energy from coal and natural gas plants that can harm the environment and contribute to high electricity costs. American lawmakers have brought the issue of cryptocurrencies’ environmental impacts before Congress, debating how to tackle the rising energy consumption associated with mining Bitcoin and other cryptocurrencies, and even asking mining companies to disclose how much energy they use.