Chipmaker Intel Corp said on Tuesday it has stopped production of its bitcoin mining chip series, just over a year after its debut.
A rout in the cryptocurrency market has hurt some chip companies including Nvidia Corp, whose high-end graphics chips have become popular for crypto mining.
Intel expects to stop taking orders for the series by October 20 this year and end shipping by April 20 next year, according to a document on the company’s website.
“As we prioritize our investment in IDM 2.0, we have phased out the Intel Blockscale 1000 Series ASICs, while we continue to support our Blockscale customers,” said a company spokesperson.
IDM 2.0 refers to Intel’s strategy to outsource its chip manufacturing to external customers, while continuing its own production of smaller and faster chips.
Intel said it will continue to “monitor market opportunities” in the cryptocurrency space.
Argo Blockchain, Block Inc, Hive Blockchain Technologies and GRIID Infrastructure were Intel’s first customers for the chips.
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