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Bitcoin: Intel’s mining ASICs coming to an end?

by Thomas

According to Reuters, Intel is set to stop producing Blockscale Bitcoin mining ASICs this fall. Meanwhile, the Bitcoin blockchain has never been more secure.

Intel is reportedly moving away from Bitcoin mining

According to Reuters, the famous computer component manufacturer Intel will stop producing Bitcoin (BTC) mining chips.

The ASICs in question are the Blockscale ASICs, which were launched in production just one year ago and whose technical specifications announce a computing capacity of up to 593 gigahashes per second. Production of this reference should stop by 20 October and shipments should be assured until 20 April 2024.

An Intel spokesperson commented on the decision, saying that priority was given to the company’s IDM 2.0 strategy, a programme to outsource the production of some components, while increasing in-house manufacturing of other chips, including through the construction of new factories:

“As we prioritise our investments in IDM 2.0, we have ended the life of the Intel Blockscale 1000 series ASIC while continuing to support our Blockscale customers. “

Despite rising nearly 29% year-to-date, Intel’s stock is off 54% from its last all-time high in January 2020. As of today, the group’s market capitalisation is valued at $131.68 billion:

Figure 1 - Intel share price

Figure 1 – Intel share price

The Bitcoin blockchain update

While the cryptocurrency market is just coming off a full year of continuous decline, this downward trend, along with rising energy costs, has put a strain on the profitability of Bitcoin miners. These two factors have probably led to a reduction in investment, giving credence to Intel’s decision.

Despite this, the Bitcoin blockchain is more secure than ever, with the hashrate at an all-time high (ATH) of over 351 exahashes per second:

Figure 2 - Computing power securing the Bitcoin network

Figure 2 – Computing power securing the Bitcoin network


At the time of writing, BTC was trading at $30,100, continuing its range in the $28,000/31,000 area where it has been trading for the past few weeks.

*** Translated with www.DeepL.com/Translator (free version) ***

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