Intel dumps its Bitcoin mining Blockscale chips

Date:
Wed, 19 Apr 2023 13:00:12 +0000

Description:
Intel gave its Blockscale Bitcoin mining ASICs 12 months to live before announcing an end to the products.

FULL STORY ======================================================================

Intel has announced the closure of its Blockscale application-specific integrated circuits (ASICs) just one year after launch.

When the company initially announced the launch of its Blockscale 1000 Series twelve months ago, it promised a commitment to advancing blockchain
technology in which the Blockscale ASIC would help Bitcoin mining companies
to achieve both sustainability and hash rate scaling objectives.

Now, though, the 1160, 1140, and 1120 ASICs have been deprecated with no
plans for a second-generation, leaving early investors having to find an alternative solution. Intel Blockscale ASICs discontinued

More specifically, an Intel spokesperson told Toms Hardware :

As we prioritize our investments in IDM 2.0, we have end-of-lifed the Intel Blockscale 1000 Series ASIC while we continue to support our Blockscale customers.

Intels ASICs were designed with mining in mind, making them quicker and more effective than GPUs and CPUs. Read more

These are the best small business servers around

2022 was the biggest year ever for crypto hacking

The Web3 industry lost billions to crypto fraud last year

Its unclear why exactly the chip maker decided to stop offering the year-old products, but some believe the poor performance of Bitcoin could be partly to blame, currently sitting at less than half of its 2021 peak. Increased operating costs are also to blame for the products end-of-life.

More broadly, Intel has not been immune from the effects of a precarious economy, having announced a series of small-scale layoffs earlier this year. Like many other companies, it has also cut funding to numerous projects including an upcoming data center.

Looking ahead, the companys commitment to IDM 2.0 operations is one that is cited frequently and clearly remains an active part of its goal. Intel also told Toms Hardware that it would continue to monitor market opportunities per Bitcoin ASIC operations, indicating that a complete exit from the sector is unlikely. Check out the best business laptops and best workstations



======================================================================
Link to news story: https://www.techradar.com/news/intel-dumps-its-bitcoin-mining-blockscale-chips


--- Mystic BBS v1.12 A47 (Linux/64)
* Origin: tqwNet Technology News (1337:1/100)