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<p>US tech giant Intel has <a href="https://www.tomshardware.com/news/intel-discontinues-bitcoin-mining-blockscale-chips-no-future-gens-announced" rel="nofollow noopener" target="_blank">decided to discontinue</a> its Blockscale 1000 chip series, a relatively new product line designed for Bitcoin mining. This comes approximately one year after the company unveiled its standalone crypto-mining chip, which was expected to outperform leading ASICs in terms of power and energy efficiency.</p>



<h2 id="intel-discontinues-blockscale-1000-chip-series-amid-focus-on-idm-2-0-strategy">Intel discontinues Blockscale 1000 chip series amid focus on IDM 2.0 strategy</h2>



<p>Intel explained its decision on Wednesday, stating, &#8220;As we prioritize our investments in IDM 2.0, we have ended the Intel Blockscale 1000 Series ASIC while we continue to support our Blockscale customers.&#8221; IDM 2.0 refers to Intel&#8217;s strategy of employing third-party foundries for manufacturing products, including graphics and chipsets.</p>



<p>Intel initially announced that its Blockscale ASIC (application-specific integrated circuit) would ship in Q3 2022, with Argo Blockchain, Block (formerly Square), GRIID Infrastructure, and Hive Blockchain as its first customers. Hive Blockchain later praised Intel&#8217;s chips for significantly enhancing the efficiency of its ASIC fleet.</p>



<p>However, according to a document on Intel&#8217;s website, the company now expects to stop accepting orders for Blockscale in five months and discontinue chip shipments by April 20 next year.</p>



<h2 id="crypto-winter-and-shift-in-company-priorities-impact-intel-8217-s-involvement-in-bitcoin-market">Crypto winter and shift in company priorities impact Intel&#8217;s involvement in Bitcoin market</h2>



<p>Declining bitcoin prices and the crypto winter have adversely affected Intel clients&#8217; businesses, particularly those who took on high-interest debt during the bull market to scale up quickly.</p>



<p>In February 2022, Intel&#8217;s former graphics chief, Raja Koduri, announced the development of energy-efficient computing technology and the formation of a custom compute group within the company&#8217;s Accelerated Computing Systems and Graphics business unit. In December, Intel divided the unit to concentrate on &#8220;critical growth engines,&#8221; and Koduri returned to his prior role as Intel&#8217;s chief architect. Shortly after, he left Intel to establish an AI-focused software company, as announced by CEO Pat Gelsinger on Twitter.</p>



<p>Intel has hinted that it has not entirely abandoned the Bitcoin market, stating, &#8220;We continue to monitor market opportunities.&#8221; Other chipmakers, such as Nvidia and AMD, have also been affected by the bear market to varying degrees. Their gaming graphics cards were popular among Ethereum miners before the network&#8217;s transition to proof of stake late last year.</p>

US tech giant Intel discontinues crypto mining chip project in favor of IDM 2.0

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