That article is full of misconceptions.
... Intel’s new hardware would theoretically make Bitcoin mining less energy intensive ...
It is not possible to make Bitcoin mining less energy intensive. It is designed to be energy intensive.
This, in turn, has forced out many small-time miners while increasing the stranglehold on the sector by large-scale operations ...
Price drops affect large and small miners equally. It is the cost of power that matters most, not the size of the operation.
Intel’s new technology could make small-time mining profitable once again
Wouldn't big miners use it too? I don't think it will have an effect on the profitability of small miners.
Once this new Intel technology comes to market, ultimately more people will mine again because it’s profitable again, driving down the market value of the coins, and finding a new market balance that will again put locations with lower electricity costs back at the advantage.
More people mining means a higher difficulty that negates the benefits of higher efficiency. Profitability is not affected.
The profitability of mining has no effect on the price. The opposite is true, though. The price affects profitability.
That quote is confusing. It seems to say that more people
will mine because it will supposedly more profitable, but more people
won't mine because of electricity costs.