According to reports, the business that makes semiconductor chips would cease accepting orders for the Blockscale 1000 Series ASICs on October 20.
Reports show that Intel, a significant technological corporation with headquarters in the United States, intends to stop producing its Blockscale Bitcoin mining chips in order to save costs.
ASICs from the Blockscale 1000 Series will no longer be available for purchase by October 20 and will stop delivering around April 2024, according to a Reuters article from April 18. According to reports, Intel claimed the action was part of a plan to reduce costs overall by giving outside clients priority in the fabrication of specific chips.
The Blockscale mining chips were introduced by Intel in April 2022. At the time, the company stated that the ASIC hardware would have a hash rate of up to 580 gigahash per second, with the ability to combine and merge several chips into a single mining unit. Among the first businesses to use the technology in their operations were the mining companies Argo Blockchain, Block, Hive Blockchain Technologies, and GRIID Infrastructure.
Costs of Cryptocurrency Mining
Learn about the economics of mining cryptocurrencies and the potential and difficulties that exist in this quickly growing sector. There are numerous areas in which the expenses incurred when mining cryptocurrencies may be divided:
Hardware prices, for instance, the cost of specialized application-specific integrated circuits (ASICs) can significantly affect how profitable mining is.
Energy prices are among the largest costs associated with mining since the computational equipment requires a significant amount of electricity to operate. As a result, the cost of power in a certain location can have a big influence on how profitable mining is.
・Costs associated with cooling: To keep mining machinery in excellent working order, the heat produced by the machinery must be dissipated. In hotter climates or in large-scale mining operations, cooling costs can be very costly.
・Costs for maintenance and repairs: In order for mining equipment to perform at its peak, regular maintenance and repairs are required, and these costs can add up over time.
・Transaction costs: For processing network transactions, miners may also be paid transaction fees in addition to block rewards. The number of transaction fees, which may vary based on network activity and other factors, may have an factor on how profitable mining is.
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