Shares of Block Inc. (NYSE: SQ) were climbing today after Intel announced on Friday that Block will be one of its first customers for a new energy-efficient cryptocurrency mining chip that it's shipping later this year.
The tech stock was up by 5.9% as of 11:42 a.m. ET.
Intel's senior vice president of accelerated computing systems, Raja Koduri, said in a company blog post on Friday that Intel has developed an energy-efficient crypto-mining chip, which it calls an "accelerator," that has "over 1000x better performance per watt" compared to graphics processors.
Source Fool.com