Woofun AI reports that Intchains Group has suspended fresh Ethereum purchases, pivoting strategic focus toward artificial intelligence and next-generation ASIC development. This operational shift follows a severe contraction in financial performance, prompting the Nasdaq-listed entity to prioritize hardware innovation over cryptocurrency treasury expansion.

The deeper driver is a catastrophic 94% revenue collapse in the first-half, leaving the firm with RMB22.1 million in costs—twice its total revenue. Intchains impaired excess mining-machine inventory as weaker demand and lower selling prices eroded margins. Consequently, the company stated it no longer anticipates "material additional accumulation" of crypto, though it will maintain its existing treasury to continue generating staking yield.

Structurally, the pivot centers on a purpose-built mining hardware ASIC that completed tape-out in July.

Woofun AI data shows the chip requires sample production and validation, with a commercial launch targeted for the fourth quarter. Ding noted the new ASIC is expected to contribute modestly to revenue in the second half of 2026 before becoming a more meaningful driver in 2027 as commercialization accelerates.

Intchains is also evaluating AI initiatives, including potential acquisitions, to build a more resilient, diversified revenue base. Ding confirmed these efforts remain in the early stages, with more specific plans expected next year. This marks a definitive departure from pure-play crypto accumulation toward a hybrid hardware and technology model.