Intel Corporation (NASDAQ:INTC) has unveiled details about its upcoming Bitcoin (CRYPTO: BTC) mining microchip.

What Happened: In a virtual presentation at the IEEE International Solid-State Circuits Conference (ISSCC) 2022, Intel said its Bonanza Mine (BMZ) system is an ultra-low voltage energy-efficient Bitcoin mining application-specific integrated circuit (ASIC).

These first-generation BMZ chips will be coupled with a 3,600-watt miner. However, in terms of computing power, the energy-efficient mining chips will be capable of delivering just 40 terahashes per second (TH/s).

According to a report from The Block, the hashrate output from BMZ lags behind industry-leading ASIC manufacturers.

MicroBT’s Whatsminer M30S++ can produce up to 112 TH/s and Bitmain’s Antminer S19 Pro can produce up to 110 TH/s.

Bitmain also plans to release a new model of its Antminer S19 Pro that will have a maximum hash rate of 198 TH/s.

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While Intel’s BMZ chip falls short in terms of hashrate, it consumes less energy than its existing counterparts on the market. The miner will theoretically deliver 40.4 TH/s with 2,293 watts of power while providing an energy efficiency of 56.97 joules per terahash. Bitmain’s Antminer S19J has an energy efficiency of 34.5 joules per terahash.

Price Action: Intel shares were trading 0.16% lower during the pre-market session on Tuesday.

Photo: Courtesy of Thomas Cloer on Flickr