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Intel has declared the end of its first-generation Blockscale 1000-series ASICs for bitcoin (BTC) mining just one year after its official launch.
The company has yet to make any plans for different chip generations public.
According to Tomshardware, Intel, an American top technology company that manufactures semiconductor chips, has stated that it will stop producing its Blockscale 1000-series ASICs for bitcoin mining a year after their official launch. The company has claimed that it will continue to serve current BlockScale clients. However, it has yet to disclose any intentions for future generations of the chips.
Blockscale ASICs will no longer be supported as part of Intel’s ongoing efforts to prioritize investments in IDM 2.0. The company told Tom’s Hardware, “While we continue to support our Blockscale customers, we have ended the Intel Blockscale 1000 Series ASIC as we prioritize our investments in IDM 2.0.”
This action is part of a company-wide attempt to save costs since Intel has recently exited several companies.
Intel and bitcoin mining
The announcement raises concerns about Intel’s position in the bitcoin mining industry. When asked if it intended to leave the bitcoin ASIC industry altogether, Intel said it would continue monitoring market opportunities.
However, Intel’s statements suggest it leaves the door open for potential prospects. The company hasn’t disclosed any next-generation bitcoin mining products, and its Blockscale ASIC landing pages are inactive.
Intel’s initial debut into the bitcoin-mining chip business was unfortunate, given that its chips were accessible as bitcoin valuations dropped. Intel’s apparent withdrawal from the market comes when bitcoin rises, having recently surpassed $30,000 for the first time in a year.