Intel ends its bitcoin mining chip series

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Chip­mak­er Intel said on Tues­day (Apr 18) it has dis­con­tin­ued pro­duc­tion of its bit­coin min­ing chip series, just a year after its introduction.

A rout in the cryp­tocur­ren­cy mar­ket hurt some chip com­pa­nies includ­ing Nvidia, whose high-end graph­ics chips became pop­u­lar for cryp­to mining.

Intel expects to stop tak­ing orders for the series, called Blockscale, by Oct 20 this year and end ship­ping by Apr 20 next year, accord­ing to a doc­u­ment on the com­pa­ny’s website.

“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,” a com­pa­ny spokesper­son said.

IDM 2.0 refers to Intel’s strat­e­gy to out­source its chip mak­ing to out­side cus­tomers, while it con­tin­ues to ramp up its own pro­duc­tion of small­er and faster chips.

Intel said it will con­tin­ue to “mon­i­tor mar­ket oppor­tu­ni­ties” in the cryp­tocur­ren­cy space.

Argo Blockchain, Block Inc, Hive Blockchain Tech­nolo­gies and GRIID Infra­struc­ture were Intel’s first cus­tomers for the chips.

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