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.

Last week, Intel revealed that Jack Dorsey’s Block Inc (NASDAQ:SQ) and Bitcoin miner Argo Blockchain ADR (NASDAQ:ARBK) would be the first customers for its Bitcoin mining system.

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

Photo: Courtesy of Thomas Cloer on Flickr