Razer, the multi-billion dollar gaming equipment manufacturer, launched a new program that allows gamers to easily use their idle GPUs to mine cryptocurrency.
However, the problem with this seemingly simple program is that users cannot keep the cryptocurrency they mine.
Razer launches Cryptocurrency mining software called SoftMiner
The new program, called SoftMiner, allows PC users to utilize their expensive GPUs while they are not using their computers , whether at school, sleeping, or at work, and in return, Razer rewards them with something called "Razer Silver."
The San Francisco and Singapore-based tech company announced the show in a tweet, touting its new show as a way to earn rewards for "doing nothing."
The program was produced in partnership with GammaNow , who operates a similar mining service that offers gaming vouchers instead of digital currency.
Since this particular program is rewarded with Razer Silver, users are limited to redeeming the value of Razer products, around 20 available games or product discounts.
Once the software is downloaded, it will automatically activate the PC's GPU when the computer is not in use and disburse Razer Silver rewards based on the amount of cryptocurrency mined during a specified period of time.
Razer has not specified which cryptocurrency it will mine.
Finally, Razer says that the SoftMiner application will automatically pause the mining process when other applications are in use, so that the overall performance of the computer is not affected at all.
On the other hand, SoftMiner software also ensures that the cryptocurrency mining process is not affected when the machine is idle , guaranteeing that the computer does not switch to lock screen mode or suspend the miner.
However, despite Razer's warranties and promises to only manage the miner when the system is idle, real-world use may contradict their claims, in which case things go from bad to worse.
A good deal for Razer, but not a good deal for users
Razer claims that, with the right setup, users can generate up to 500 Razer Silver credits per 24-hour period, which is basically equivalent to $1.67 per day of rewards based on a $5 Razer reward that costs 1.500 credits.
Comments on Twitter about the Razer SoftMiner announcement indicate that nobody is too excited about this new program.
While the news might seem like an easy way for owners of powerful gaming machines to earn some equivalent cash, the reality is that miners are struggling to make ends meet with prices down 80 percent in many cryptocurrencies this year.
A user wrote
"Seriously? This is an early April joke, right? «
While another user mentioned the high cost of electricity that was incurred when mining the cryptocurrency, he said:
"I just have to send my electricity bill to Razer every month and have him pay it"
As a result, individual GPU miners are unlikely to make significant profits even if they mine directly through dedicated software.
Last month, Taiwan-based tech giant Asus also moved to allow gamers to use their graphics cards to make a cut of the profits from cryptocurrency mining.
Asus partnered with mining app provider Quantumcloud for the effort and pays users in cash via PayPal or WeChat.
Although it is clear that SoftMiner is not the best offer for users , it does indicate a growing trend for technology companies looking to generate additional revenue through mining.