The greater crypto-mining sector and the cryptocurrency community were taken aback by Intel‘s statement on Tuesday that it will cease manufacturing its flagship brand of Bitcoin mining chips. The company had additionally guaranteed that final shipments would take place no later than April 20, 2024.
Intel Announces Decommissioning of Bitcoin Mining Chips
On October 20, the company will stop accepting orders for the Blockscale line of mining CPUs, which were just introduced last year. The company will start providing Bitcoin mining services to customers, including Argo Blockchain (ARBK), Block (SQ), Griid Infrastructure, and Hive Blockchain (HIVE), which was revealed in the middle of 2022.
They Will Focus on IDM 2.0 Initiatives
Blockscale ASIC manufacture will end, according to a statement from the company, as it focuses on IDM 2.0 projects. This choice fits with the company’s recent history of leaving other companies, which is currently undergoing a company-wide restructuring and reorganization.
IDM 2.0 outlines the company’s plan to increase both the number of firms using its semiconductors and the company’s own manufacturing of smaller, faster processors. The Intel Blockscale 1000 Series ASIC has reached the end of its useful life even if it is still supporting its Blockscale clients because IDM 2.0 is now the main focal point.
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