Why Intel did it?

[BenCodie]

Why Intel discontinued its Bitcoin mining chip series?

Probably because it is becoming too expensive or less possible for them to be a preferred option over their competition. If they could compete, there's no reason why they wouldn't continue catering for the mining market.

Does this affect the price of Bitcoin? This is definitely not good news.

No, it effects the price of mining hardware. Now that Intel has been removed from the miner chip market, other mining chip providers will be able to increase their prices as one less competitor exists in the market. If mining chip value increases, so does mining equipment. If mining equipment increases, the cost to mine does as well. Therefore, miners have higher expenses and must have a higher bitcoin price in order to be able to at least break even on their costs.

This probably won't price into the market right away. I believe it would be priced in when miners are forced to update their equipment and face higher prices for doing so.

[nullama]

I won't worry much about it if I were you, are you following the latest Bitcoin mining news? Right now the Bitcoin mining difficulty has increased even more, no this won't affect Bitcoin price a bit, Intel isn't the only company building these chips, there are other many Asic manufacturing companies out there so we are in good hands.

Maybe intel need to focus more on it's CPU builds because its competitor, AMD is not slowing down at all, they just released another new Ryzen CPU with 24 Cores after the latest Ryzen 9 CPUs on the market right now.

Some gamers are making noise about this online that's how I get to know and some are dumping AMD saying of all the latest CPUs they released Intel 13th gen CPUs are way faster and better.

I think Intel stopped them because they are too niche.

Intel is in trouble right now so they need something that will sell a lot. Like a CPU or a GPU for general processing.

Bitcoin mining might end up being profitable for them, but maybe they won't be selling enough units to justify it. They are now in a situation where they have to focus, otherwise they will collapse.