US based global technology company Intel has been granted an USPTO patent for “energy-efficient high performance bitcoin mining.” According to the document, the company will use a SHA-256 as the Proof of work algorithm.
According to the patent, bitcoin miners may be rewarded for their efforts by receiving a block reward and transaction fees. However, mining machines for the bitcoin network generally require hardware accelerators, such as application-specific integrated circuits (ASICs), and therefore require a large amount of energy.
Hardware accelerators are needed in particular for processing 32-bit nonces, strings of bits used once during a transaction. Current ASICs process these transactions in multiple stages with redundancies.
“Dedicated Bitcoin mining ASICs are used to implement multiple SHA-256 engines that may deliver a performance of thousands of hashes per second while consuming power of greater than 200 [watts]. Embodiments of the present disclosure employ micro-architectural optimizations including selective hardwiring certain parameters in Bitcoin mining computation,” the patent explains.
As a reminder, Intel has previously sought patents related to its work in the area of crypto mining. And it was Intel’s foundry that produced the chips for the mining operation run by 21 Inc, which later rebranded as Earn.com and was ultimately acquired by Coinbase.