Cryptomining is not an attractive idea anymore, at least not how it was a few years ago when the giant bubble made Bitcoin skyrocket to $20,000.
The bubble burst had a big impact on what users think about cryptocurrencies and their value. Bitcoin’s value has even been below $3,500 while Ethereum, which was wort $1,200 at some point, fell to $120.
Despite the situation, ASUS made a surprising and quite confusing move: it has partnered with Quantumcloud to develop a software that would let users mine cryptocurrency in idle GPUs.
The company has not explained how the software will work or what cryptocurrencies will be mined with it. The truth is I cannot avoid feeling skeptical. It has been increasingly difficult to mine cryptocurrencies after forks. In most cases, mining with GPUs is not profitable anymore, so the partnership seems unconvincing to me.
After doing some research, I saw that Quantumcloud states in its website that “you won’t get rich quick, but you can earn some easy money with your idle GPUs.” This is a realistic concept that does not sound entirely bad, but it is clear the company has to turn a profit somehow, which makes me more skeptical about the information.
The company claims it complies with the GDPR and the software does not store user information. However, a disclaimer in a press release shows us that ASUS and Quantumcloud do not “guarantee that users of its software will make any earnings or profit,” and that “users are responsible for their own usage costs.”
This confirms my worst fears. The idea of mining cryptocurrencies like this to make a little profit could have been viable a few years ago. However, it does not make sense right now even if we have a great GPU in an optimized environment in terms of energy consumption.