Asus Announces New Graphics Cards Focused on Cryptocurrency Mining

One of the world's largest technology hardware makers has released new graphics cards (GPUs) aimed at the cryptocurrency mining market.

AccessTimeIconJun 27, 2017 at 5:30 p.m. UTC
Updated Sep 11, 2021 at 1:29 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

One of the world's largest technology hardware makers has announced new graphics cards (GPUs) aimed at the cryptocurrency mining market.

Taiwan-based manufacturer Asus revaeled the Mining RX 470 and Mining P106, which were designed to handle the energy and heat intensive process of mining. Though not expressly pitched as such, the release is undoubtedly aimed at capturing some of the interest in mining ethereum. Bitcoin mining, by comparison, has evolved to a stage in which application-specific integrated circuits, or ASICs, are required to compete. 

Cryptocurrency mining is a process by which new transaction blocks are added to the distributed network. When this happens, new blockchain tokens are introduced to the system and awarded to the miner as compensation – in this case, a profit is achieved when the cost of electricity and the operation itself is lower than the revenue generated by selling those tokens.

According to today's Asus announcement, the new cards are "engineered especially for coin mining, positioning the products as capable of providing "maximum mega hash rates at minimum cost".

Interest in cryptocurrency mining has led to reported shortages of GPUs in the global market. One hobbyist miner recently told CoinDesk that local tech stores have run low on the cards, adding that online marketplaces like Newegg, Amazon and eBay, among others, are also largely out of stock.

It's a situation that echoes the earlier "GPU rush" from 2014, when mining activity around alternative cryptocurrencies like dogecoin and litecoin led to similar price increases and a decline in available inventory.

Shortages aside, ethereum network data suggests that more hash rate is coming into ply as time goes on.

According to  etherchain.org, the mining difficulty – which rises as more hashing power is brought online – nearly tripled from 27th April to 27th June.

screen-shot-2017-06-27-at-11-43-34-am

The RX 470 will be available worldwide, according to Asus, while the Mining P106 card will be available in China and Eastern Europe only, beginning in July. 

Image via Shutterstock 

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.