What just happened? Intel announced a significant revision to the construction timeline of its Ohio One semiconductor manufacturing site in New Albany. The setback is the third substantial delay from the facility’s original 2025 completion target. Intel emphasizes its commitment to the project and its ability to accelerate construction if market demand warrants.

The first phase of the facility, known as Mod 1, should be finished in 2030, with chip production beginning between 2030 and 2031. The company’s revised timeline also affects the project’s second phase, Mod 2, pushing it back to a 2031 completion date, with operations beginning in 2032.

The Ohio One campus, once dubbed the “Silicon Heartland,” is an ambitious undertaking. It will span approximately 1,000 acres and include up to eight semiconductor fabrication plants. The site will also accommodate support operations and industry partners. Initial investment estimates were around $20 billion, with potential for up to $100 billion in total development costs.

Despite the frequent delays, the site has made significant construction progress since work began in 2022. Key milestones include completion of the underground foundation, commencement of above-ground construction, installation of air separation units and underground piping, pouring over 200,000 cubic yards of concrete, and more than 6.4 million hours of invested labor.

The revised timeline reveals that the Ohio facilities will utilize process technologies developed after Intel’s 14A and 14A-E nodes, currently scheduled for introduction in 2026-2027. These advanced manufacturing processes will likely rely on ASML’s cutting-edge High-NA EUV lithography tools, costing around $350 million each.

Intel has already begun hiring and training employees for the Ohio facility. Workers are receiving training at existing Intel sites in Arizona, New Mexico, and Oregon, preparing them for the eventual opening of the local facility.

Intel’s decision to delay the Ohio plant opening comes amid a challenging period for the company and the semiconductor industry. The past year has seen Intel grappling with financial losses, layoffs, and leadership changes. The company has also made strategic decisions to simplify its product roadmap, including canceling an AI chip project.

While the delay may raise concerns about Intel’s outlook on future demand, it also allows the company to manage its capital expenditures more effectively during market uncertainty. By postponing significant investments in production equipment, Intel can focus on returning to profitability while maintaining the flexibility to ramp up operations when market conditions improve.

Lawmakers in the Ohio House of Representatives proposed a bill to prevent extra taxes on crypto payments and address mining, staking, and regulation of digital assets and investments by the state retirement systems.

Lawmakers Introduce ‘Ohio Blockchain Basis Act’

On Monday, Ohio lawmakers introduced the “Ohio Blockchain Basis Act,” or House Bill 116 (HB116), to amend the existing legislation and prevent state and local governments from imposing additional taxes on crypto assets used as a payment method.

Sponsored by Representative Steve Demetriou and co-sponsored by Tex Fischer, Brian Lorenz, Ty D. Mathews, Riordan McClain, and Josh Williams, Bill 116 aims to prevent the General Assembly from enacting “a bill that proposes to impose a fee, tax, assessment, or other change on digital assets used as a method of payment for goods and services.”

Ohio lawmakers introduce House Bill 116. Source: LegiScan

If passed, HB116 would still allow fees, taxes, assessments, or other charges that usually apply to legal tender transactions on crypto transactions.

It also mandates that no political subdivision or state agency could prohibit Ohio residents from accepting digital assets as payment for goods and services or restrict them from custodying their crypto assets using hardware or self-hosted wallets.

Under the proposed bill, individuals are not required to have a money transmitter license to engage in crypto mining, staking, or exchanging a crypto asset for another digital asset, while businesses offering mining or staking services won’t be “considered to be offering a security or investment contract.”

Moreover, the state retirement funds will be required to evaluate the potential risks and benefits of investing in crypto exchange-traded funds (ETFs) and write a report for the General Assembly within a year.

Ohio Continues Crypto Legislation Efforts

This move follows other similar proposals from Ohio lawmakers, including former Ohio state senator Niraj Antani’s proposed Senate Bill 317 last September.

If passed, the bill would have required the state to accept digital assets for state taxes and fee payments and allowed state institutions and pension funds to invest in digital assets. However, according to LegiScan, the bill only progressed 25% before dying in Committee.

Moreover, Ohio State Representative Derek Merrin introduced a bill in December to create a BTC reserve within the state treasury.

The “Ohio Bitcoin Reserve Act,” or House Bill 703, aimed to establish a dedicated fund within Ohio’s treasury and provide the State Treasurer with a legal framework that allows them to purchase and hold BTC.

Most recently, Ohio Senator Sandra O’Brien introduced Senate Bill 57, a second bill to allow the state to invest in Bitcoin and create the “Ohio Bitcoin Reserve Fund.” If passed, the proposed legislation will require the state’s Bitcoin investments to be held for five years.

The State Senator asserted, “The crypto world is here, and Ohio needs to be a leader. Crypto will be a major part of President Trump’s term. When his working group issues recommendations, Ohio will be ready.”

Bitcoin trades at $88,960 in the one-week chart. Source: BTCUSDT on TradingView

Featured Image from Unsplash.com, Chart from TradingView.com