Bitcoin Mining Company GRIID to Be First Recipient of Intel’s “Bonanza Mine” Chips

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South Korea’s crypto community is off to an excellent start in the new year. They will have plenty to be proud of after March’s presidential election.GRIID is an American infrastructure company which owns and operates several Bitcoin (BTC), mining sites. To become the first recipient for its “Bonanza Mine”, chips, Intel has entered into a partnership.

FOX Business reported the news citing the S-4 filing. GRIID will be able to access a large part of the chip’s production. The publication also stated that the chips will “make Bitcoin mining more efficient by reducing the energy required in the process.”

reported that Intel will unveil its “Bonanza Mine” processor on February 23, which is described as an “ultralow-voltage energy efficient Bitcoin mining ASIC.” The chips will be available on the market soon, according to Tom’s Hardware .

“This will make a big impact if it succeeds because ESG [environmental social and corporate governance] concerns have been a major hindrance for institutional ownership of Bitcoin,” Tom Hayes (chairman of Great Hill Capital) told FOX Business.

GRIID, an Ohio-based self-mining company, has three US-based facilities. In the next few weeks, the company will be listed on the New York Stock Exchange under the tick symbol “GRIDI”. The combined company will be listed under the ticker symbol “GRDI” on the New York Stock Exchange.

This move will give GRIID, a 4-year-old startup, a boost. It could even be on par with Bitcoinmain – the largest Bitcoin miner in the world that had accounted for approximately 75%of the global mining market share by 2018.

Bob Burnett, a former Intel employee, is now chairman of Divy Systems/Barefoot Mining. This company provides hosting for cryptominers and argues that Intel doesn’t “enter markets frivolously.” He also said that the move was bullish for the sector.

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