Intel Pulls the Plug on Bitcoin Mining Chips—What This Means for Miners

Intel just ended its Bitcoin mining ambitions. The chipmaker announced it’s discontinuing the Blockscale 1000 Series ASIC, with the last shipments expected by April 20, 2024. Orders will stop coming in by October 20.

This is a pretty big deal for the mining sector. Just two years ago (April 2022), Intel launched these chips with impressive specs—up to 580 GH/s hashrate per unit. Major mining operations like Block, Argo Blockchain, Hive Blockchain, and GRIID were early adopters.

Why the sudden exit?

Intel’s playing the long game. The company is shifting resources to its IDM 2.0 strategy—basically focusing on producing semiconductors for external customers and ramping up R&D for faster, smaller chips. In other words, mining chips aren’t where the real money is anymore.

Intel also cited cost-cutting as a factor, which aligns with broader industry pressures and regulatory headwinds in the U.S. crypto space.

Is Intel done with crypto entirely?

Not necessarily. When asked if it’s exiting mining altogether, Intel said it’s “continuing to monitor market opportunities”—classic corporate speak for “we’re keeping our options open.”

Meanwhile, Intel stock has climbed ~10% over the past month as investors cheer the company’s focus shift toward faster chip development (Granite Rapids tests are underway).

Bottom line: Miners relying on Blockscale hardware have limited time to adapt. The move underscores how quickly big tech players pivot when mining becomes less strategically attractive.