Will Intel start mining Bitcoins?
70,000 GH/s Bitcoin mining speed via bitcoin.sepa.de
What if Intel opened a new line of business - mining Bitcoins?
Intel has the fastest processors, the best technology to make such processors and one of the best profit margins in semiconductors.
Unfortunately, Intel is in slow-growth markets and is struggling to break in to the faster growing mobile markets where software, design, power and features are more important than the raw cpu speed that is Intel’s strength.
There is one market that requires raw computation speed – Bitcoin mining. And, it only cares about more and more speed. No features, no apps, no OS compatibility etc.
Current Bitcoin mining speeds are about 70,000 GH/s. Mining new Bitcoins requires heavy-duty computation – run by faster processors or dedicated Bitcoin ASIC’s. The former are supplied mostly by Intel.
Instead of selling processors to others who then use it for Bitcoin mining, Intel can directly start mining Bitcoins. Why build/sell products when you can directly mine money?
With its enormous strength in processors and ability to develop custom silicon for Bitcoin mining, Intel can truly shine in this market.
Will Intel do it?
Will there be a Bank of Intel in the future?
Is mining Bitcoins worth it for Intel? To Bitcoin supporters, Bitcoin is the currency of the future. Inspite of the recent gyrations, Bitcoin prices are back to about $96. With its economies of scale, mining for Bitcoins will be a tiny expense for Intel with potentially huge ROI.
While the same argument can apply to other strong silicon companies such as Qualcomm, Broadcom, Nvidia etc, none of them can bring the full strengths of an Intel to this market.
- What’s New with Bitcoin?
- The Bubble in Bitcoin?
- Hardware Bitcoin Miner, Mining at 50 GH per sec
- How to Get Bitcoins
Tags: Intel bitcoin mining business, bank of intel, silicon bitcoin mining, hardware bitcoin mining