Intel dumps its Bitcoin mining Blockscale chips | Alterdraft

Intel has made the decision to shut down its Blockscale application-specific integrated circuits (ASICs) a mere year after their introduction.

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Intel dumps its Bitcoin mining Blockscale chips

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  • Finance

Intel dumps its Bitcoin mining Blockscale chips

  • 25/06/2023, 18:54
  •   /  Admin
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Intel has made the decision to shut down its Blockscale application-specific integrated circuits (ASICs) a mere year after their introduction.

Intel has made the decision to shut down its Blockscale application-specific integrated circuits (ASICs) a mere year after their introduction.

 

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During the initial unveiling of the Blockscale 1000 Series, the company expressed its dedication to driving forward blockchain technology, asserting that the Blockscale ASICs would assist Bitcoin mining enterprises in attaining their goals of sustainability and hash rate expansion.

 

However, the 1160, 1140, and 1120 ASICs have now been rendered obsolete, without any indications of a follow-up generation, leaving early adopters in search of alternative remedies.

 

"As we prioritize our investments in IDM 2.0, we have made the decision to discontinue the Intel Blockscale 1000 Series ASIC, while maintaining support for our existing Blockscale customers."

 

Intel's ASICs were specifically designed for mining purposes, offering enhanced speed and efficiency compared to GPUs and CPUs.

 

The exact reason behind the chip maker's choice to halt the availability of these year-old products remains uncertain. However, some speculate that the decline in Bitcoin's performance, currently at less than half of its peak in 2021, could be a contributing factor. Additionally, increased operational costs have played a role in the decision to end the product's life cycle.

 

In a broader sense, Intel has not been immune to the challenges posed by an unpredictable economy, as evidenced by the earlier announcement of minor layoffs. Similar to numerous other companies, Intel has also reduced funding for several projects, including an upcoming data center.

 

Moving forward, Intel's dedication to IDM 2.0 operations remains a prominent focus and actively aligns with its objectives. The company has also stated to Tom's Hardware that it will "continuously assess market opportunities" regarding Bitcoin ASIC operations, indicating a complete departure from the sector is unlikely.

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