Intel’s ambitious push into the crypto chip market has been cut short with the discontinuation of its Blockscale 100 ASIC less than a year after it was released. The development highlights Intel’s recent change in direction as they focus on more profitable investments, a move emphasized by the announcement of their plan to exit the cellular modem business by March.
Crypto-enthusiasts were quick to show support for Intel’s blockscale chip last June, when it initially launched. However, that enthusiasm was overshadowed by the significant losses crypto had suffered in the months preceding the launch. With Bitcoin crashing down to under $19,000 per coin, Intel’s bold move into crypto chips seemed to have been poorly timed.
That said, recent months have seen a dramatic resurgence in the value of Bitcoin, now back over $30,000. Still, with the CEO of Intel outlining plans to make an estimated $8-$10 billion in cuts, it appears the company has decided to exit the crypto-chip business. Intel has yet to explicitly confirm their departure from the blockchain technology industry, but their silence on the matter has led to speculation.
Raja Koduri, the graphics architect who spearheaded Intel’s crypto-chip project, has since left the company in March. He was part of Intel’s focus on semiconductor development, working as the CEO and Senior Vice President of the company’s Architecture, Software and Graphics Group. Koduri oversaw the launch of Intel’s high-end graphics card, the Arctic Sound, in 2020.
This move follows Intel announcing its exit the pre-built server business last week, as well as their intentions to drop their cellular modem business which will be effective in March. Intel’s changing of direction is its CEO’s way of ensuring the company’s longevity in a rapidly changing tech industry.
