Intel Discontinues Bitcoin Mining Chip Series: Impact of Cryptocurrency Market on Chipmakers

Chipmaker Intel Corp announced on Tuesday that it has decided to end the production of its Bitcoin mining chip series, called Blockscale, just a year after its introduction. This move comes in the wake of a downturn in the cryptocurrency market, which has also affected other chip companies such as Nvidia Corp whose high-end graphics chips were popular for crypto mining.

According to a document on Intel’s website, the company plans to stop taking orders for the Blockscale series by October 20 of this year and cease shipping by April 20 of next year. This decision is part of Intel’s strategy to prioritize its investments in IDM 2.0, which involves outsourcing chip manufacturing to external customers while focusing on its own production of smaller and faster chips.

A spokesperson from Intel stated, “As we prioritize our investments in IDM 2.0, we have end-of-lifed the Intel Blockscale 1000 Series ASIC while we continue to support our Blockscale customers.” However, Intel will continue to monitor market opportunities in the cryptocurrency space, indicating that the company may revisit its decision in the future.

Intel’s first customers for the Blockscale chips were Argo Blockchain, Block, Hive Blockchain Technologies, and GRIID Infrastructure. These companies may need to seek alternative options for their Bitcoin mining operations following Intel’s discontinuation of the Blockscale chip series.

This move by Intel reflects the impact of the cryptocurrency market on chipmakers, as the demand for chips for crypto mining has decreased due to the recent downturn in the market. It also highlights Intel’s strategic focus on IDM 2.0 and its efforts to streamline its chip manufacturing operations. As the cryptocurrency market continues to evolve, it remains to be seen how chipmakers and other technology companies will adapt to the changing landscape.

Jacob Morris

Journalist writer interested in collecting computer news and modern technology. Worked on many websites and news organizations. You can contact him via e-mail: [email protected]

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