2023-04-19 11:00:00
A Intel announced the discontinuation of its line of chips aimed at Bitcoin mining. It is noteworthy that the company made the decision less than a year following the launch of the first product last June, the Blockscale 100 ASIC.
The information was confirmed by the Tom’s Hardware website, which classified Intel’s withdrawal as: “it arrived late and is leaving too soon”. The company has not announced a new chip to replace the Blockscale 100 ASIC, which means the end of the line.
However, Intel left open the possibility of returning to work in the segment. In response to Tom’s Hardware, the company said it will continue to monitor all market opportunities and dodged the question of whether it would be a permanent exit.
The fact is that Intel’s timing seems to have been pretty unfortunate. Between the time the company announced the chip and when it was launched, Bitcoin had more than halved, going from a peak of over $47,000 per coin to less than $19,000 each.
It is worth noting that Bitcoin has partially recovered and is operating at around $30,000. However, the crypto winter has greatly shaken faith in blockchain technology, artificial intelligence has become the industry’s hot new investment.
Intel’s CEO has made it public that he plans to cut $8-10 billion by 2025. The company exited the pre-built server business last week and also confirmed it would exit the cellular modem business in March.
And you, what do you think regarding this strategy from Intel? Let us know in the comments down below!
1681921695
#Intel #cancels #production #chips #aimed #Bitcoin #mining
