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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

ASUS Announces Crypto-Mining Partnership Despite Market Challenges

Tony "The Bull" Severino
Tony "The Bull" Severino
6 years ago
3 mins read
Crypto

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ASUS has announced a partnership with Quantumcloud that turns idle graphic cards into cryptocurrency miners.

ASUS Partners with Quantumcloud

Taiwan-based computer and electronic component manufacturer AsusTek Computer Inc., most commonly known as ASUS, has partnered with “innovation factory” Quantumcloud, reports Tech Radar.

The partnership will allow owners of ASUS-branded graphics cards to mine for cryptocurrencies like Bitcoin and Ethereum, while a GPU is idle. According to the report, it turns a regular ASUS graphics card into a GPU that can “potentially earn a passive income by installing Quantumcloud’s software.”

ASUS graphics card owners will be able to download Quantuncloud software that allows them to tap into the GPU’s processing power, and use it to mine for cryptocurrencies. The software also provides users with the ability to set up a wallet, perform conversions, transfers, and more, right from the software, removing much of the guess work out of cryptocurrency mining.

Related Reading: ASUS Introduces 20 GPU Motherboards for Crypto Mining

Once the software is set up, and cryptocurrencies have been mined, users can also opt for digital payouts via PayPal or WeChat.

ASUS says that all customer user and financial data is protected under the General Data Protection Regulation (GDPR), so ASUS GPU owners can rest assured using their graphics card to mine for cryptocurrencies is a safe and secure process.

Interest In Crypto Mining Dwindles as ASUS’ Competitor Shares Suffer

ASUS continuing down the path of cryptocurrency mining is a surprising move. This is due to the fact that some of ASUS’ biggest competitors across a number of industries are suffering major financial losses due to their investment in supporting the cryptocurrency mining craze last year, and are now fleeing the industry.

California-based Nvidia went all-in on cryptocurrency mining at the peak of the 2017 bull run. Cryptocurrencies can be mined using specialized mining hardware designed for the task, however, graphics cards, the same ones that companies like Nvidia, AMD, and ASUS produce, can also be used – albeit less effectively – to mine for cryptocurrencies.

Related Reading: Nvidia Pulls Out of Crypto Mining Citing Low Revenue

As the price of Bitcoin and Ethereum began to climb throughout 2017, so did sales, and thus demand, of GPUs. Store shelves everywhere were left empty as those hooked by the crypto craze sought to increase their cryptocurrency holdings any way they could.

But as the cryptocurrency bubble popped, interest in cryptocurrency mining evaporated as portability dropped.

GPU-manufacturers like Nvidia were taken by surprise by the initial demand, thinking that they had a new revenue stream to tap into. Nvidia responded by increasing production of its GPUs, but is now regretting that decision as sales of its cryptocurrency-based products have declined significantly, reducing the company’s annual financial projections.

The news of lowered revenue expectations sent Nvidia shares plummeting by 17%. Jensen Huang, Nvidia’s CEO, explained that “the crypto hangover lasted longer than we expected.”

Featured image from Shutterstock.
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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