Intel Stepping In, Bitcoin Mining Could Become Profitable Again?

Recently, Intel has shown interest in developing a specialized bitcoin hardware. The major aim of that hardware is to provide more opportunities and facilities to small time miners.

On 29th March, the California based firm has released a patent application. The official document clearly explains that the company is eager to develop a new digital currency mining hardware. The upcoming hardware may consist of a core processor and accelerator attached to that processor. The chief purpose of the hardware accelerator is to mine bitcoin.

Moreover, the patent filling reveals that Intel has found a new system to lessen the bitcoin mining space.

At present, Bitmain Technologies Ltd controls the entire bitcoin market. However, it seems like the leading microprocessor manufacturer is all geared up to give Bitmain a tough competition.

Up till now, bitcoin mining has failed to generate tremendous amount of profit. The lesser profit margin has compelled several small-time miners end their projects.

Nevertheless, there are chances that Intel’s new technology will make bitcoin mining lucrative once again.

Stef Morgan has been a business and financial writer for the last 7 years. Before becoming a writer, she worked for more than a decade in the corporate world, giving her an insider’s perspective and understanding of business and finances. Stef also holds degrees in business management and marketing.