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Intel Discontinues Its Bitcoin Mining Chip Series

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Today’s Cryptocurrency Headline

Chip manufacturing giant Intel announced on Tuesday in a statement that it will cease production of its Bitcoin mining chip series. According to a document on Intel’s website, new orders will not be accepted after October 20th, and the last products will be shipped before April 20th, 2024. When asked whether Intel would launch new projects, a company spokesperson stated that they would continue to “focus on market opportunities.” In February last year, Intel announced its entry into the Bitcoin mining field, releasing a Bitcoin mining ASIC chip, with the first customers including Argo Blockchain, Block, Griid Infrastructure, and Hive Blockchain.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin has experienced a 2.89% increase in the past 24 hours, reaching an intraday high of $30,485. This puts the largest cryptocurrency back above the critical $30,000 price level, indicating that investor sentiment is positive. Technical indicators such as the gently rising 20-day Exponential Moving Average (EMA) and the Relative Strength Index (RSI) in the positive zone suggest that buyers may have an advantage. If the BTC/USDT pair remains above the $30,000 support level, it has the potential to reach the $32,000 resistance level.


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