It has been revealed that Intel, one of the world's largest chip manufacturers, will end the production of chips specially designed for cryptocurrency miners.
Speaking to crypto media on Tuesday, an Intel spokesperson stated that they made this difficult decision because they have other plans:
"Our investments in IDM 2.0 have become a priority for us. That's why we have made the decision to cease production of our Intel Blockscale 1000 Series chips while we continue to support our Blockscale customers."
According to the official statement on Intel's website, orders for the Blockscale 1000 series designed for Bitcoin miners will end on October 20, 2023. The production line is expected to be completely shut down in April 2024.
The tech giant launched its crypto mining chips, which it calls Blockscale, a year ago. It was stated that Bitcoin miners such as Argo Blockchain, Hive Blockchain and Block contributed to the development.
However, over time, only Hive Blockchain has chosen to use Intel chips in its operations. It is not yet known why other companies do not use the products in question despite the partnership.