Intel Files for Patent: Reduce Energy Consumption for Bitcoin Mining
Energy consumption is one of the biggest concerns regarding cryptocurrency mining, world-wide. Cryptocurrency miners have gone as far as to relocate across the world for cheaper electricity in their mining operations; and some cities have responded by enforcing stiff tariffs, or banning mining altogether. Recently released, was a patent filed by Intel, in which the company proposes an improvement in the energy efficiency of mining capabilities. As Bitcoin (specifically) can end up costing more to mine than the value of the actual rewarded Bitcoin (during dip periods in the value of Bitcoin) Intel claims to be able to offer improvements to the efficiency in various areas in the mining process.
In addition to the advancements being proposed to streamline mining efficiency, Intel confidently mentions Bitcoin as "the most popular digital currency used in the digital currency eco-system", as well as plainly outlining the process by which the digital currency operates and is mined. While this patent was filed in September 2016, it has only been released March 29, 2018 and to this point, the patent is still pending. If this patent and product prove successful, Intel will certainly gain ground in the competitive mining hardware market.