Intel had been preparing to present its first Bitcoin mining ASIC at ISSCC 2022, and as the event began on February 20, Intel has revealed more details about the Bonanza Mine ASIC, as well as its Bonanza Mine System — a self-contained computer with 300 Bonanza Mine ASICs that can deliver 40 terahashes per second (THash/s) of performance while consuming 3,600W of power. The chipmaker's presentation focused on the first-generation ASIC Bonanza Mine dubbed BMZ1, as well as a system built on them; however, Intel is already planning to ship a second-generation product to clients, the details of which have yet to be divulged.
While it may seem like a lot of data for non-miners, it's worth noting that Intel's performance numbers for the BMZ1 don't quite measure up to the competition from Bitmain, as CryptoAge points out. However, as previously stated, the business has already began selling a second-generation device dubbed BMZ2 to its customers. According to CoinTelegraph, the Bonanza Mine System has four hash boards, an Intel FPGA control unit, four fans, and a customizable power supply. An FPGA is a "field programmable" integrated circuit that allows customers to change the hardware after manufacture to fulfill specific use case needs — in this case, Bitcoin mining.
In November 2018, Intel submitted a patent for "high-performance Bitcoin mining," proposing a 15% decrease in overall power usage. Intel officials hsowed confidence in competing against established firms like Bitmain, MicroBT, and Nvidia at the time. The BMZ2 mining chips from Intel will be available later this year, with US electric power business GRIID Infrastructure, crypto mining startup Argo Blockchain, and Jack Dorsey's Block among the first clients to get the initial batch of mining chips.
According to the information released thus far by Intel, the second-generation BTC miner will be able to produce a balanced performance of 40.4THash/s while requiring 2,293W of power — marking a low power usage of 56.97 joules per THash. In comparison to Bitmain hardware, the Antminer S19j ASIC Bitcoin Miner uses 3,100W to provide up to 90THash/s at room temperature, leading in a 34.5 joule per THash efficiency. According to a Tom's Hardware report, Bitcoin mining company GRIID's supply agreement with Intel includes a number of redactions to protect sensitive information, but it still includes references to Intel's Reference Design Materials, which are essentially documents intended for customers to use as guidance when integrating the Bonanza Mine chips into their own systems.
This means that Intel will provide the silicon to certain of its clients, who will then design their own systems. This is also in line with Jack Dorsey's intentions for Block, which he describes as a "Bitcoin mining system built on bespoke silicon and open source for people and enterprises globally."