• Latest
  • Trending
  • All
Intel Leaves Crypto Mining; Halts Bitcoin Mining Chip Production

Intel Leaves Crypto Mining; Halts Bitcoin Mining Chip Production

April 21, 2023
Hong Kong & UAE Join Forces To Bolster Crypto Regulation

Hong Kong & UAE Join Forces To Bolster Crypto Regulation

May 30, 2023
Shiba Inu (SHIB) and Dogecoin (DOGE) Swimming in Red Waters, HedgeUp (HDUP) Soars 300% with 400+ Holders Added Daily

Shiba Inu (SHIB) and Dogecoin (DOGE) Swimming in Red Waters, HedgeUp (HDUP) Soars 300% with 400+ Holders Added Daily

May 30, 2023
Ethereum’s Block Size Surges To 1-Month High

Ethereum’s Block Size Surges To 1-Month High

May 30, 2023
Payment Systems in Crypto Casinos — Deposit with Litecoin

Payment Systems in Crypto Casinos — Deposit with Litecoin

May 30, 2023
Canto Blockchain Difficulties Demonstrate Dreary DeFi Outlook

Canto Blockchain Difficulties Demonstrate Dreary DeFi Outlook

May 30, 2023
Traders Act Fast As Binance Australia Unveils Bitcoin Discount For Limited Period

Traders Act Fast As Binance Australia Unveils Bitcoin Discount For Limited Period

May 30, 2023
Laos Government Organizes Meeting on Blockchain 4.0 and Digital Economy Development

Laos Government Organizes Meeting on Blockchain 4.0 and Digital Economy Development

May 30, 2023
New Meme Coins To Replace Dogecoin

Will the crypto halving of BTC & LTC affect Caged Beasts?

May 30, 2023
Can DogeMiyagi influence outgrow Dogecoin and Pepe?

Can DogeMiyagi influence outgrow Dogecoin and Pepe?

May 30, 2023
Ethereum Deflation Hits Record High Six Months After Merge, What This Means For ETH

Long Dormant $14.7 Million Ethereum ICO Wallet Surfaces After Eight-Year Slumber

May 30, 2023
Litecoin (LTC) Halving Rally Looms: Popular Analyst’s Bold Outlook

Litecoin (LTC) Halving Rally Looms: Popular Analyst’s Bold Outlook

May 30, 2023
XRP to Hit $5 Being the Only Asset to Surpass ETH’s Market Cap

XRP to Hit $5 Being the Only Asset to Surpass ETH’s Market Cap

May 30, 2023
Tuesday, May 30, 2023
DLT EMPIRE
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market
No Result
View All Result
DLT EMPIRE
No Result
View All Result
Home Crypto Mining

Intel Leaves Crypto Mining; Halts Bitcoin Mining Chip Production

by Cuevas Antonio
April 21, 2023
in Crypto Mining
0
Intel Leaves Crypto Mining; Halts Bitcoin Mining Chip Production
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


  • Intel’s recent announcement of suspending the Bitcoin mining chip implies the company’s future crypto plan. 
  • Earlier, Nvidia, now Intel, major chip-makers distanced themselves from crypto operations. 

Semiconductor giant Intel is signing off the crypto mining space. The company is said to join the crypto band quite late, though leaving earlier than completing a year. Intel brought its Bitcoin mining chip last year but recently announced the production of its suspension.

As reported, Intel is shutting down further production of Blockscale ASICs, its Bitcoin mining chips launched in June 2022. Additionally, there was no indication of continuation after halting its first generation Blockscale 1000-series chips. 

When asked, Intel said the decision to “end-of-life the Intel Blockscale 100 Series ASIC” came after the company’s increasing focus on its Integrated Device Manufacturing 2.0 (IDM 2.0). However, it clarified the current Blockscale customers would continuously receive the support in the future. 

The chip manufacturer reportedly seeks to separate its semiconductor foundry and design team with IDM 2.0. In addition to exiting the bitcoin mining chip sector, Intel also pulled itself from several other businesses citing the internal tightening. Leaving the possibility of returning in the future, they said to “monitor market opportunities.”

Reuters reported, citing the document on its official website, Intel will not take orders for the Blockscale series chips by October 2023. In addition, it will wrap up its shipping by April 2024. 

Intel entered the crypto mining space during the whole industry’s bad phase. It was in June last year when it launched its Bitcoin mining chips; around the same time, Bitcoin (BTC) was lingering at 19,000 USD. 

However, Bitcoin’s upswing started after the starting of this after almost a year-long bearish phase due to crypto winter circumstances. BTC recently touched its ten-month high after its trading price exceeded 30,000 USD. However, at the time of writing, Bitcoin’s price slid more than 4% last week and is currently trading at 28,876 USD. 

The instance of Intel leaving the crypto space is not the first; several other companies took an exit given distinct reasons. Earlier, another leading chip maker Nvidia revealed the company’s intentions toward cryptocurrency mining operations. Given the high processing power, the graphical processing units (GPUs) produced by Nvidia were used in crypto mining at a large scale. Citing the GPU usage in mining, the company refrained from letting this happen in the future.

TheCoinRepublic reported earlier that Nvidia sought its processors for more meaningful purposes, which tend to bring global changes. Chief Technology Officer, Michael Kagan, said during an interview, sharing the perception towards cryptocurrencies, that they are useless to society. 

Conversely, Kagan compared crypto to another emerging technology, Artificial Intelligence (AI). He said AI chatbots like ChatGPT, using the processing power of their chips, makes it more worthwhile than using them for mining crypto. 

Latest posts by Ritika Sharma (see all)



Source link

Tags: BitcoinChipCryptoHaltsIntelLeavesMiningProduction
Share196Tweet123Share49
Cuevas Antonio

Cuevas Antonio

  • Trending
  • Comments
  • Latest
Rise of AI-Powered Cheating: Challenges and Solutions for Educators

Rise of AI-Powered Cheating: Challenges and Solutions for Educators

March 20, 2023
Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

April 10, 2023
What is Cloud Mining and How Does it Work?

What is Cloud Mining and How Does it Work?

April 10, 2023
Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

0
24 Crypto Terms You Should Know

24 Crypto Terms You Should Know

0
Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

0
Hong Kong & UAE Join Forces To Bolster Crypto Regulation

Hong Kong & UAE Join Forces To Bolster Crypto Regulation

May 30, 2023
Shiba Inu (SHIB) and Dogecoin (DOGE) Swimming in Red Waters, HedgeUp (HDUP) Soars 300% with 400+ Holders Added Daily

Shiba Inu (SHIB) and Dogecoin (DOGE) Swimming in Red Waters, HedgeUp (HDUP) Soars 300% with 400+ Holders Added Daily

May 30, 2023
Ethereum’s Block Size Surges To 1-Month High

Ethereum’s Block Size Surges To 1-Month High

May 30, 2023

Recent News

Hong Kong & UAE Join Forces To Bolster Crypto Regulation

Hong Kong & UAE Join Forces To Bolster Crypto Regulation

May 30, 2023
Shiba Inu (SHIB) and Dogecoin (DOGE) Swimming in Red Waters, HedgeUp (HDUP) Soars 300% with 400+ Holders Added Daily

Shiba Inu (SHIB) and Dogecoin (DOGE) Swimming in Red Waters, HedgeUp (HDUP) Soars 300% with 400+ Holders Added Daily

May 30, 2023
Ethereum’s Block Size Surges To 1-Month High

Ethereum’s Block Size Surges To 1-Month High

May 30, 2023

Categories

  • Altcoin
  • Altcoin News
  • Altcoins
  • Artificial Intelligence
  • Bitcoin
  • Blockchain
  • Business
  • Crypto Mining
  • Cryptocurrencies
  • Culture
  • Dogecoin
  • Economy
  • Education
  • Ethereum
  • Featured
  • Governance
  • Litecoin
  • Market
  • News
  • Uncategorized

Converter

Cryptocurrency Prices by Coinlib

© 2023 Dlt Empire | All Rights Reserved

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market

© 2023 Dlt Empire | All Rights Reserved