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Despite chip efficiency and a $63 million increase in revenue in 2022, Intel has discontinued Bitcoin mining chips

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Despite chip efficiency and a $63 million increase in revenue in 2022, Intel has discontinued Bitcoin mining chips


Efficient but costly, Intel ends its Blockscale 1000-series Bitcoin-mining ASICs amid focus on IDM 2.0 strategy.

According to Intel’s annual report, these operating expenses were caused “by increased inventory reserves taken and investments” in its product roadmap.

Intel aimed to accelerate its IDM 2.0 strategy by “investing in manufacturing capacity around the world,” committing to “delivering five technology nodes in four years” in 2022, one of which was the initial Intel Blockscale ASIC.

“impacted by an uncertain macroeconomic environment arising from inflation, the war in Ukraine, and COVID-19 shutdowns in [its] supply chain in China,” Intel stated of its results for 2022.





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Causation of the discontinuation

The additional $500 million in yearly operating costs in 2022 bolster Intel’s justification for discontinuing its Bitcoin-mining chips, bolstering the firm’s final decision.

The company stated the following regarding the IDM 2.0 strategy:

“Though we aggressively adjusted capital investments in 2022 to respond to changing business conditions, we still made significant investments in support of our IDM 2.0 strategy during the year.”



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