Intel has announced the shutdown of its Blockscale application-specific integrated circuits (ASICs) just one year after launch.
When the company originally announced the launch of its Blockscale 1000 series twelve months ago, it pledged to advance blockchain technology in which Blockscale ASICs would help Bitcoin mining companies "achieve both sustainability and rate scaling goals." of hash".
Now, however, the 1160, 1140 and 1120 ASICs are obsolete and there are no plans for a second generation, forcing early investors to find a workaround.
Discontinuation of Intel Blockscale ASIC
Specifically, an Intel spokesperson told Tom's Hardware(opens in a new tab):
"As we prioritize our investments in IDM 2.0, we have finished the life of the Intel Blockscale ASIC 1000 series while continuing to support our Blockscale customers."
Intel ASICs were designed with mining in mind, making them faster and more efficient than GPUs and CPUs.
It's unclear exactly why the chipmaker decided to stop offering last year's products, but some believe Bitcoin's underperformance could be partly to blame, as it is currently at less than half its peak in 2021. The increase in operating costs is also the cause of the end of life of the product.
More broadly, Intel hasn't been immune to the effects of a shaky economy, having announced a series of small-scale layoffs earlier this year. Like many other companies, it has also cut funding for many projects, including a future data center.
Looking ahead, the company's commitment to IDM 2.0 operations is frequently mentioned and clearly remains an active part of its approach. Intel also told Tom's Hardware that it will "continue to monitor market opportunities" through Bitcoin ASIC trading, indicating that a complete exit from the sector is unlikely.