Intel Discontinues Bitcoin Mining Chip Series Amid A Cost-Cutting Spree

• The company told Tom's Hardware that “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.”
• "Intel's statement cites the company's tighter focus on its IDM 2.0 operations as the reason for ending the Blockscale ASICs, a frequent refrain in many of its statements as it has exited several businesses amid company-wide belt-tightening."
• When asked if Intel planned to exit the Bitcoin ASIC business entirely, the company responded, "We continue to monitor market opportunities."
• Intel recently restructured its AXG graphics unit which was in charge of Custom Compute Group dedicated to Bitcoin ASICs and emerging tech, and its then-graphics-chief Raja Koduri left the company shortly thereafter.
• "Intel hasn't announced any next-gen Bitcoin mining products and its Blockscale ASIC landing pages are now all inactive."
• "Aside from exceptionally competitive performance relative to competing Bitcoin-mining chips, Blockscale's big value prop stemmed from the stability of Intel's chip-fabbing resources."
• Intel told Tom's Hardware that "it will continue to serve its existing Blockscale customers, implying it will satisfy its existing long-term contracts."
• "Intel's customers have until October 2023 to order new chips, and shipments will end in April 2024."
• "Intel's latest move comes on the heels of a cost-cutting spree - the company sold off its server-building business last week, killed off its networking switch business, ended its 5G modems, wound down its Optane Memory production, jettisoned the company's drone business and sold its SSD storage unit to SK Hynix."

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