A year has passed since Intel carried out an official declaration of its Bitcoin mining Blockscale ASICs. However, at the present moment in time, the entity has decided to call it a day and has put a total halt on the first-generation Blockscale 1000 series chips. When questioned about it, they claimed that they will now be focusing on IDM 2.0, along with keeping up the backing of their Blockscale customers. Incidentally, they are known for starting and closing down various businesses in the past.
Earlier on, when the company was in the process of making their way into the blockchain arena, Raja Koduri, the head of graphics at that point in time, divulged the fact that the company had built a Custom Compute Group inside the AXG graphics unit. This was to create a backing for the Bitcoin ASICs and the upcoming technology. Following a restructuring, Koduri made his exit from the company. Apparently, the Custom Compute Group remains the way it was. At the present moment, it seems like Intel is busy scouring further options, but nothing concrete has come up.
At the time when Intel moved into the market for bitcoin mining chips, it turned out to be not so favorable for them. Just when the chips were ready, the value of Bitcoin came crashing down. In the present scenario, when Bitcoin price is seemingly on the rise once again, Intel has made an about-turn from the market. However, the company made $30,000 for itself after almost a year.
The company’s Bitcoin mining chips came into the limelight when it used the Bonanza Mine codename, as it had done for its R&D chips, which never had any commercial value. Later on, the company came out with a declaration that it would be moving into the blockchain market, and with that, it delivered a second-gen model named BlockScale. The idea was to be able to select big mining companies, such as BLOCK, as well as GRIID Infrastructure, Argo Blockchain, and many more.
The present scenario indicates that the company will support its customers, keeping up with its long term commitments. The company focuses more on cost-cutting and streamlining its activities until such time as a viable option crops up.