Benzinga | Jan 18, 2022 01:06PM EST

Intel To Showcase Crypto-Mining Chip In February: Report

* Intel Corp (NASDAQ:INTC) will likely showcase a specialized crypto-mining chip at the International Solid-State Circuits Conference (ISSCC) in February, CoinDesk reports citing the conference's agenda.

* One of Intel's "highlighted chip releases" at the conference entitled "Bonanza Mine: An Ultra-Low-Voltage Energy-Efficient Bitcoin Mining ASIC" will likely be on February 23.

* The report added that the initiative brings Intel into direct competition with Bitmain and MicroBT in the market for bitcoin mining application-specific integrated circuits.

* Intel does not plan to add ether mining limits on its graphics cards, unlike its competitor NVIDIA Corp (NASDAQ:NVDA).

* Price Action: INTC shares traded lower by 1.35% at $54.95 on the last check Tuesday.