Intel ends its bitcoin mining chip series

Intel ends its bitcoin mining chip series
A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6.
PHOTO: Reuters

Chipmaker Intel Corp said on Tuesday (April 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 Corp, 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 April 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.

ALSO READ: Intel co-founder Gordon Moore dies at 94

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