ASUS: Demand for GPUs for crypto mining is falling

ASUS CEO Ted Hsu says demand for GPUs for crypto mining is declining. Hsu even talks about the ‘disappearance’ of the demand for GPUs for cryptomines. This may mean that GPUs will be more readily available after months of shortages.

Hsu spoke about demand for GPUs in a quarterly shareholder update, reports The Register. Hsu also expects demand for PCs to decline by about 10 percent. Video card prices rose by 25 percent in the second half of last year.

Hsu cites the switch from proof-of-work to . as a possible cause of the declining demand proof of space. In addition, it is quite possible that demand will decline further because many cryptocurrencies have lost a lot of value in the past week. Stablecoin Terra, among others, fell more than half in value. Bitcoin also had a hard time.

ASUS says it is not worried about the decline in demand. According to Hsu, the market will ‘normalize’ again. Also, the shortage of chips is not the main problem for hardware production. According to Hsu, it is mainly transport bottlenecks that cause production problems at ASUS at the moment. He mentions, among other things, a shortage of containers as a major problem.

In the quarterly update ASUS reports a net profit of 10 billion dollars for the first quarter of 2022. That is more than 7 percent growth compared to last year.