Intel is investing in blockchain technology with a new chip designed to mine cryptocurrency (via Reuters). The company is focusing on sustainability, and plans on “developing the most energy-efficient computing technologies at scale.”

Intel’s first crypto-focused chip, which it calls a “blockchain accelerator” is set to ship later this year. Two companies have already preordered the technology, including Bitcoin mining company GRIID Infrastructures and Block, the Jack Dorsey-owned fintech company formerly known as Square.

“We expect that our circuit innovations will deliver a blockchain accelerator that has over 1000x better performance per watt than mainstream GPUs for SHA-256 based mining,” Raja Koduri, Intel’s senior vice president explains in the announcement.