Intel stops Bitcoin mining chips almost a year after release

Intel (NASDAQ: INTC) confirmed on Tuesday it is ending production of its processors used to mine Bitcoin, slightly higher than a year after launching them.
“Once we prioritize our investments in IDM 2.0, we’ve end-of-life the Intel Blockscale 1000 Series ASIC while we continue to aid our Blockscale customers,” the organization told Reuters, alluding to its decision to concentrate on chip manufacturing for other companies.

Your choice will discover Santa Clara, California-based Intel stop taking orders for the Blockscale number of chips by October 20, 2023, and cease shipping them by April 20, 2024.

In February 2022, Intel (INTC) unveiled the processors useful for blockchain applications, including Bitcoin mining and creating non-fungible tokens, or NFTs. During the time, Intel (INTC) said companies such for example Block (NYSE: SQ), Argo Blockchain, and GRIID Infrastructure were among its first customers.

Intel (INTC) shares fell 0.7% to $31.92 in mid-day trading following a piece of news.

The other day, Intel (INTC) said it’d assist SoftBank (OTCPK: SFTBY) owned Arm to manufacture another generation of mobile chips.