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Intel chip seen as challenge to Chinese dominance in crypto mining

News Snapshot:

Bitcoin mining hardware from Intel Corp. (Nasdaq:INTC) is seen as the first major challenge in years to Chinese companies that have dominated the industry. The Santa Clara chip maker, which employs 12,000 people at its Chandler campus, recently announced a custom cryptocurrency product group within its new graphics chip business unit as it introduced its first generation BonanzaMine chip. San Francisco-based digital payment company Block Inc. and two mining firms — Griid Infrastructure and Argo Blockchain — are set to get the first ones later this year. High-performing chips from China-based Bitmain and MicroBT currently have most of the market…

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