Intel will halt production of the Blockscale lineup of chips designed for Bitcoin mining. The Block reports.
“We will continue to monitor market opportunities,” said one of the tech giant’s representatives in an interview with Tom73 Hardware.
The Blockscale lineup was introduced in April last year. Among the first buyers of Intel chips became Block Inc. and Argo Blockchain.
In recent months the corporation has taken a number of cost-cutting measures, notably slashing top executives’ salaries. In February, Intel representatives said they aimed to achieve annual savings of between $3 billion and $10 billion by 2025.
According to Protocol, the company could receive “billions of dollars” in government subsidies designed to spur growth in the high-tech sector of the economy.
In March, HIVE Blockchain Technologies completed the deployment of a batch of BuzzMiners ASIC miners built on Intel chips, numbering 5,600 units.