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ASUS Partners with Quantumcloud to Allow Crypto Mining Through Idle GPUs

Reading Time: 2 minutes by on November 30, 2018 Blockchain, Business, Finance, News, Tech
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Taiwan-based computer hardware giant ASUS is the latest player in the block to join the cryptocurrency mining party. According to a report by Hard Fork, published November 29, 2018, ASUS is persuading gamers to mine cryptocurrencies when their gaming systems are not in use.

Partnership with Quantumcloud to Develop Mining Software

Per sources close to the matter, ASUS gamers will be able to mine digital currencies online by using their idle graphics cards. Cryptocurrencies mined can later be encashed through popular payment gateways like PayPal or WeChat. To that effect, the company has joined forces with blockchain technology provider Quantumcloud, which will provide it the crypto mining software.

ASUS claims the entire mining process is GDPR-compliant, which entails that the 3rd party software provider (Quantumcloud) will not store any sensitive customer information.

However, in the announcement, no details were provided in that what cryptocurrencies will be available to mine through the idle GPU cards. Further, there was no clarity with regard to the amount of cryptocurrencies which can be earned, nor any information on the commission which might be charged by ASUS or Quantumcloud for offering the service.

With that said, gamers should not get their hopes up of becoming millionaires overnight.

“You won’t get rich quick, but you can earn some easy money with your idle GPUs,” Quantumcloud says on its website.

Moreover, according to a press release shared with Hard Fork, it is not even guaranteed that users of the crypto mining software will make any earnings or profit. The companies warned the users to conduct their own cost versus benefit research before putting their idle GPU cards to use.

Surprising Move Amidst Declining Mining Profits

It would be fair to say that not many anticipated the move by ASUS to integrate crypto mining functionality in their GPU cards.

Since the Q1 2018 euphoria of cryptocurrencies, the mining business has witnessed a continuous decline.

For example, GPU manufacturing company Nvidia reported stellar results on May 14, in which crypto sales accounted for almost 10 percent of its Q1 2018 revenue. However, things took a downturn real quick as the company’s Q3 earnings report validated the withering demand for crypto mining GPUs.

The plummeting demand for GPUs also reflected in AMD’s Q3 2018 financial report. The American semiconductor manufacturer company had almost negligible sales of blockchain-related graphics processing units in Q2 2018.

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