Bitcoin News: Intel Discontinues Bitcoin Mining Chips

Intel Blockscale

Chip manufacturer Intel (INTC) announced the His bitcoin mining chip was produced Set block scale to 1000. Also new generations These chips are intended non-appearance.

Production of the Intel Blockscale 1000 chip will end on October 20, 2023, and sales will end on April 20, 2024.

Announced a year ago, now posted: Intel Bitcoin mining blockscale ASICs

The news comes as a surprise as Intel only announced block scale Bitcoin mining ASICs last year under the code name “Bonanza Mine”. It was the main focus major crypto miners for bitcoin.

With the new chips, Intel wanted to alleviate the lack of graphics chips used as an alternative to mining, and at the same time Intel wanted to help the ASIC Bitcoin mining energy consumption to reduce.

“For proof-of-work algorithms compatible with ASIC-based systems and SHA-256 hashing, Intel Blockscale ASIC offers the energy efficiency and processing power needed for scalability and sustainability,” he said last year in an Intel blog post without signature. “

The second generation of chips was named “Blockscale”. The processors are used by major mining companies such as Block (SQ), GRIID Infrastructure and Argo Blockchain (ARBK), among others. Mostly yes Hive Blockchain (HIVE) bet on the chips.

Argo Partner, Blockchain ePICby the way Announces its own Bitcoin mining machines with Intel chips.

Despite expected growth in this market up to $3 billion, it is clear that Intel does not want to do anything more with this market a year later. However, customers who have purchased the processors will receive continuous support.

The first The Blockscale 1000 series is officially complete and finds no sequence. Whether it’s Intel’s intention in general Article ASIC Bitcoin leaving is unclear at the moment, but is within the realms of possibility.

Originally, the plan to enter the blockchain market came from a former Intel Chief graphic executive Raja Koduri. However, as part of the restructuring, the corresponding group was dissolved and Koduri has since left Intel.

ASIC can only be used for mining

One reason for the cessation of production is probably the low sales be. Of all the collaboration partners, only HIVE Blockchain has purchased significant amounts of chips from Intel.

As for blockchain hashing operations used in bitcoin mining, yes ASICs are better than GPUs. Although GPUs are better suited for this than CPUs, they consume more energy.

Hardware ASICs are more specialized, so it is less flexible. Basically you can use these chips only for miningwhich of course reduces the market significantly.

Basically, ASICs can only be used for one thing, mining. Here, however, the benefits are huge. The chips can faster hash rates with lower power consumption delivered as a GPU.

Intel blockchain ASIC landing pages are inactive

The websites for Intel’s ASIC blockchain project are already up no longer active and it will be expected that the same will be the case for the participation of the chip giant in this space.

One reason for the exit is definitely the An unfortunate start to the project. Because Intel got into the bitcoin mining business right when the Cryptocurrency fall in general and Bitcoin in particular.

Although the market and Bitcoin now recover wellbut of course the price fluctuations had a negative impact on the market for mining products.

Bitcoin transaction

The big mining companies use the processors gladlybecause they were powerful, consume little energy and, above all, they are very stable. Mining chips from China vary greatly in price and are often subject to customs duties.

In addition, there is the dependence on the Bitcoin rate and of course the expensive transportation from Asia. The United States is planning taxes up to this area in the future 30% for mining bitcoin.

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