Users of ASUS GPUs can now mine cryptocurrency on their equipment thanks to the partnership between the company and blockchain company Quantumcloud. The Taiwanese manufacturer is even encouraging the users to mine cryptocurrency when not playing games on their GPUs to put into work their idle graphics cards. It marks the latest folly by yet another company in the cryptocurrency mining industry.
Following the partnership with Quantumcloud which developed the mining software for the GPUs, gamers will be able to cash out their earnings daily through PayPal or WeChat. No mention on the kind of cryptocurrencies that can be mined. The mining works through the Quantum Cloud's platform. A user simply starts the app and the cloud uses some of the GPU's power to run powerful cloud-based applications according to their website.
Although the firm did not mention how much gamers resulting to mining activity will earn from mining, Quantumcloud said while "won't get rich quick," they will be able to earn "some easy money" from the activity. The two said companies noted that every user is responsible for considering their own usage cost and there is no guarantee for profits. The user will earn an amount based on the amount of power contributed.
From their website, Quantum Cloud gives an example of a typical gaming PC with a GTX 1070, which could generate more than 20000 Quantum dots every day resulting in profits of approximately USD$10 over the next course of the month. Any serious miner would also want to consider the cost of generating such an amount; for instance cost of electricity and even fluctuations in the currency to determine if it was worthwhile.
For any miner out there, it may not be the right timing to enter mining for profits, with cryptocurrency market having dropped by about 80 percent since peak in 2017. Companies such as Nividia and Gigabyte have reported huge loses. Nevertheless, it may be a crucial time to prepare. May be. Consider the many GPUs or miners that could be up for sale currently at a cheaper price than they would be at peak price.
News came out just the other day that Gigabyte recorded its lowest quarterly level in the Q3 of 2018 since 2008 and may be forced to post a loss in the Q4.
Additionally, MSI, another manufacturer of mining rigs posted a 6.6-percent loss for Q3 year-over-year. Nvidia also recently reported a huge decline in graphics card sales and CFO Collette Kress said the company was done with the mining business once and for all. Taiwanese manufacturers are reportedly dealing with a surplus in mining hardware after a ramp up in production inspired by the 2017 boom in cryptocurrencies.
AMD, like ASUS, could also be hoping that the situation will change. The company recently published a promotional explainer page on various “use cases and applications” for blockchain other than cryptocurrencies.