U.Today - A year after its debut, Intel (NASDAQ:INTC) has decided to cease production of its inaugural Blockscale 1000-series Bitcoin-mining chips with no announcement of successor models in the pipeline, Tom's Hardware .
This move comes as Intel shifts its focus toward its Integrated Device Manufacturing (IDM) 2.0 initiative, which seeks to bolster the company's internal manufacturing prowess. In line with this approach, Intel is withdrawing from several ventures to hone in on its core strengths.
Although the chip giant has not revealed any plans for next-generation mining products and its Blockscale ASIC landing pages are currently inactive, the company remains on the lookout for potential market opportunities, according to the report. This suggests that it may venture into this space again if circumstances permit.
Intel's foray into the Bitcoin-mining arena was met with challenges as the availability of its chips coincided with a sharp downturn in the Bitcoin price.
Its Blockscale chips to provide a competitive edge and reliability in the cryptocurrency mining industry. Numerous prominent mining corporations entered into long-term agreements to secure a consistent supply of Blockscale ASICs, avoiding the uncertainties and supply chain disruptions associated with predominantly China-based manufacturers.
Nonetheless, Intel's discontinuation of the Blockscale 1000-series chips signals a realignment of priorities as the company concentrates on executing its IDM 2.0 strategy.