Asus gives big bonuses based on demand for crypto-mining GPUs | Digital Trends

1/23/2022 2:30:00 AM

A huge increase in profits due to demand for GPUs capable of mining cryptocurrency reportedly prompted Asus to hand out big bonuses to employees.

Asus, Crypto

A huge increase in profits due to demand for GPUs capable of mining cryptocurrency reportedly prompted Asus to hand out big bonuses to employees.

A huge increase in profits due to demand for GPUs capable of mining cryptocurrency reportedly prompted Asus to hand out big bonuses to employees.

According to a report from MyDrivers, as spotted by Wccftech, the Taiwanese hardware company awarded bonuses of as much as $55,000 to employees.The report adds that the company was reportedly so pleased with soaring revenues and profits amid a worldwide GPU shortage that it went a step further beyond solely awarding bonuses. There were apparently on-site rewards that saw employees receiving cars and cash prizes. It’s unclear exactly how many workers were given rewards. In any case, Asus employs 14,700 people worldwide, so it’s safe to say not everyone reaped the benefits from the bonus pot.

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Thanks to an increase in profits due to demand for GPUs capable of mining cryptocurrency, Asus has reportedly handed out considerable bonuses to employees.Bitcoin mining is a controversial topic, but it seems that Intel may join the fray by releasing a chip designed specifically for that.the block Quick Take Christian Faes, who ran London-based fintech firm LendInvest for over a decade, has corralled tens of millions of dollars for a new crypto mining venture.” that are prohibited under current Russian law.

According to a report from MyDrivers, as spotted by Wccftech, the Taiwanese hardware company awarded bonuses of as much as $55,000 to employees. The report adds that the company was reportedly so pleased with soaring revenues and profits amid a worldwide GPU shortage that it went a step further beyond solely awarding bonuses. The powerful chip would be used only for crypto mining and wouldn’t present any value to casual users. There were apparently on-site rewards that saw employees receiving cars and cash prizes. Faes told The Block that the business will be based in Texas, where the Australia-born entrepreneur hopes to build a mining facility powered by renewable energy sources. It’s unclear exactly how many workers were given rewards. In fact, many attribute the ongoing GPU shortage , in part, to Ethereum mining, as the cards sell out before any regular users can get their hands on them. In any case, Asus employs 14,700 people worldwide, so it’s safe to say not everyone reaped the benefits from the bonus pot. The regulator believes the current scale and further spread of the activity bring significant risks for the environment and energy supply.

The company recently reported $19. Tom’s Hardware has suggested that Intel may be unveiling the chip during the International Solid-State Circuits Conference (ISSCC), which will take place in February., an investment firm through which he also manages his angel investing activities.3 billion in total revenue for 2021, a 30% increase from the previous year and its highest revenue total since 2010. Asus is one of the world’s leading PC vendors by unit sales, so it’s no surprise that it has seen revenues soar thanks to the high demand for laptops and PCs due to the workforce largely migrating to a work-from-home role throughout 2021.) Intel is scheduled to deliver a presentation in the Highlighted Chip Releases category, with the purpose of showing the new Bonanza Mine processor. However, the company also offers a range of products in the graphics cards market. The money has been spent on purchasing equipment and for colocation space. The report mentions that prices for RTX 30 and RX 6000 series GPUs have doubled. The company may be looking to compete against similar ASICs, such as those made by Bitmain, in a sector of the market that centers around Bitcoin mining. Bank of Russia plans to improve its monitoring of crypto operations.

Graphics cards from these two ranges are seemingly Asus’ most popular products in the video card market. Due to the ongoing GPU shortage that initially materialized because of the pandemic, demand has substantially outweighed supply. As companies like Bitmain have proven, ASICs are able to deliver the power required for mining at a lower cost. In July of last year, the company went public on AIM, a sub-market of the London Stock Exchange, at a valuation of £255. This has allowed several companies to evidently benefit from the current shortage. Consumers, however, have had to battle it out against scalpers, bots, gamers, and crypto miners in securing the latest GPUs. When it comes to purchasing one of them from companies like Bitmain, both the price and the delivery times are quite high. Currently, prices for AMD and Nvidia video cards are nearly 100% over the manufacturer’s suggested retail price (MSRP). Faes began exploring setting up a crypto mining company in early 2021, after London-listed Argo Blockchain caught his eye.

Gamers have typically been the target market for new GPUs, but due to the increasing popularity of the crypto market, enthusiasts have also tapped into certain graphics cards’ ability to mine crypto. As Tom’s Hardware reports, Intel’s interest in Bitcoin mining is not new. Crypto miners have thus provided GPU manufacturers with an additional source of revenue that’s proven to be extremely lucrative. Crypto miners can potentially earn tens of thousands of dollars in a single day with the correct GPU setup, so expect demand for GPUs from this audience segment of the market to remain strong moving forward. Although Intel hasn’t revealed much since then, it seems that the chip may have been in the works this whole time, and the company may be getting ready to present it. Competition for the latest mining machines (ASICs) and for rack space within colocation sites is high. Nvidia even sells GPUs that have been tailored specifically for crypto miners. The company’s mainstream video cards such as the RTX 3080 12GB model offer incentives for crypto enthusiasts. In a conversation with streaming personality DrLupo, Koduri talked about Intel’s upcoming Arc Alchemist GPUs.

In particular, the Lite Hash Rate (LHR) for the upgraded RTX 3080 is reported to be 20% faster at 52 MH/s over the 43 MH/s that the standard model offers. Earlier this week, a top regulator at the European Securities and Markets Authority (ESMA) on proof-of-work mining within the bloc because of how energy intensive it is. It also rereleased the RTX 2060 with a higher hash rate. Intel will soon release its new discrete Arc Alchemist gaming GPUs. The company’s most recent quarterly earnings report showed record revenues across its various segments (including gaming), so the GPU shortage has clearly positively impacted its bottom line. Intel is going a step beyond selling GPUs capable of crypto mining with its “Bonanza Mine” ASIC chip, which has been specifically designed for Bitcoin mining purposes. However, it’s also clear that Intel may support the idea of Bitcoin mining to the point of creating specialized hardware for it. He plans to draw entirely on renewable energy sources — a mix of solar, wind and hydroelectricity. As for the GPU shortage, it’s set to continue throughout 2022.

Semiconductor manufacturer TSMC is said to be increasing its prices for customers, some of whom include Nvidia and AMD, which will ultimately result in more expensive GPUs for consumers. While it’s unclear whether Bonanza Mine is being prepared as a product to be released to customers or not, Intel has the connections required to produce it in a more efficient (and perhaps cheaper) manner. Editors' Recommendations . Argo Blockchain is currently in the process of building out a site in Dickens County that could cost as much as $2 billion.