A year after announcing its first-gen Blockscale 1000-series Bitcoin-mining ASICs, Intel has declared the end-of-life for the chips, citing a shift in focus toward its IDM 2.0 operations. While the chipmaking giant has not announced any follow-up generations of the chips, it remains open to exploring potential market opportunities.
Intel's initial foray into the bitcoin-mining chip market was poorly timed, with the chips becoming available just as Bitcoin valuations plummeted. As Bitcoin's value rebounds, Intel's exit from the market is now underway. Initially launching under the Bonanza Mine codename, the company entered the blockchain market and subsequently released the second-gen 'Blockscale' model to large-scale mining companies like BLOCK, GRIID Infrastructure, and Argo Blockchain.
With the advantage of Intel's chip-fabbing resources providing stability, several industrial mining companies signed long-term deals for a consistent supply of Blockscale ASICs. Intel's existing Blockscale customers can order new chips until October 2023, with shipments ending in April 2024. Meanwhile, Intel has removed nearly all Blockscale-related content from its website.
This decision is part of Intel's ongoing cost-cutting measures, which have seen the sale of various business units and the cancellation of multiple projects. As the company faces challenging market conditions and increased competition, its focus on core competencies remains a priority.