Intel Corp, a leading chip manufacturer, recently exited the Bitcoin mining hardware Market just a year after launching its Blockscale chip line. Launched in April 2022, the chips were designed for cryptocurrency mining, with partnerships planned with companies like Argo Blockchain and Block, Inc. However, by April 2023, Intel discontinued the Blockscale line amid a prolonged downturn in the cryptocurrency Market. Fast forward to April 2025, Bitcoin’s value surged to over $84,000, a dramatic increase of 186% since Intel’s exit, while Intel’s stock fell by 39%. The mining sector is thriving, with Bitcoin’s hash rate climbing significantly, reflecting increased mining activity and new entrants into the network.
Intel Discontinues Bitcoin Mining Hardware Amid Market Challenges
Leading chip maker Intel Corporation (ticker: INTC) recently ended its venture into the Bitcoin mining hardware Market after just a year of operation. In April 2022, Intel launched its Blockscale chip line, which aimed to provide efficient chips for cryptocurrency mining, catering to companies like Argo Blockchain and Block, Inc. However, the excitement did not last long.
By April 2023, Intel decided to discontinue the Blockscale chips due to the ongoing downturn in the cryptocurrency Market, with Bitcoin trading down significantly from its 2021 peaks. The company announced it would stop accepting new orders and cease shipping the chips.
Fast forward to April 2025, and Bitcoin’s price has seen a remarkable recovery, soaring to $84,307.89—a staggering 186% increase since Intel halted its mining operations. The Bitcoin mining sector has also experienced substantial growth, evidenced by a 163% rise in the total Bitcoin hash rate, indicating a surge in miners joining the network.
In contrast, Intel’s stock has not fared well, plummeting by 39% since the discontinuation of its mining chips. The stock closed recently at $19.74, revealing a sluggish performance as the technology giant grapples with broader Market challenges.
As the cryptocurrency Market rebounds, the demand for efficient mining hardware may once again rise, leaving room for other companies to step in where Intel has retreated.
Keep an eye on developments in both the cryptocurrency and tech sectors, as they continue to evolve rapidly.
Tags: Intel, Bitcoin, cryptocurrency, mining hardware, financial news, tech industry, Market trends
What happened to Intel’s Bitcoin mining chip business?
Intel decided to stop making Bitcoin mining chips about two years ago. They found the Market was very competitive and not as profitable as they hoped.
How has Intel’s stock performed since leaving Bitcoin mining?
Since Intel exited the Bitcoin mining chip Market, its stock has shown mixed results. Some investors are concerned about Intel’s future in tech, while others see potential in its other products.
How does AMD compare to Intel in the Market?
AMD has been performing better than Intel in many areas. While both companies focus on computer chips, AMD has gained more confidence from investors, especially in the gaming and data center markets.
What are the main reasons for Intel’s struggles?
Intel faces challenges such as strong competition from companies like AMD and Nvidia. They also deal with delays in launching new technology and issues in their manufacturing processes.
Should investors consider AMD or Intel for future investments?
Investors need to research both companies carefully. AMD has been gaining ground, but Intel has a long history in tech and may still offer value. It’s important to look at their future strategies and Market trends before deciding.