Intel stops its Bitcoin mining chip series

March 18 (Reuters) April 18 (Reuters) Chipmaker Intel Corp (INTC.O) said on Tuesday it would stop production for its Bitcoin mining chip line one year after its introduction of its.

A downturn in the market for cryptocurrency hurt certain chip makers, including Nvidia Corp (NVDA.O) which makes top-of-the-line graphics chips very popular for mining crypto.

Intel stops its Bitcoin mining chip series

Intel anticipates that it will stop accepting orders for this series dubbed Blockscale in October this year, and will stop shipping by the 20th of April next year, as per an announcement on Intel’s website.

“As we prioritize our investments in IDM 2.0, we have end-of-life the Intel Blockscale 1000 Series ASIC while we continue to support our Blockscale customers,” an official spokesperson explained.

IDM 2.0 is Intel’s plan of outsourcing chip production to third-party customers and continuing to increase the manufacturing of smaller and more efficient chips.

Intel stated that the company will “monitor market opportunities” in the space of cryptocurrency.

Argo Blockchain (ARB.L), Block Inc (SQ.N), Hive Blockchain Technologies (HIVE.V), and GRIID Infrastructure were Intel’s first customers to use the chips.

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