According to sun, T2 can do "32 Gb/s/chip" for SHA-1
let's just assume it's as fast for SHA-256.
let's further assume it's magic and has 0 setup cost.
SHA256 block size is 512 bits, so 32Gb/s / 512 = 62.5M sha256 blocks/s
one bitcoinhash is 2 sha256 blocks, so 62.5M / 2 =
31.25Mhash/s.

Not bad for a crypto accel.
A $110 HD5770 does > 5x that.