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Razer Releases “Mining” Software for Gaming Loyalty Program

razer

PC gamers invest tremendously into their computer rigs. This marks them as prime candidates to be cryptocurrency miners — primarily due to their powerful GPUs. However, getting involved with crypto mining can be confusing for non-enthusiasts. Computer peripheral maker Razer is here to change that.

Based in Singapore, the gaming hardware company revealed Razer SoftMiner this Wednesday via a tweet:

The software enables users with top-tier GPUs (Nvidia GTX 1050 or AMD RX 460 are recommended as minimums) to mine “Razer Silver” while their computers run idle.

Suggested Reading Learn about the best Monero wallets on the market today.

Mining For Fake Crypto

Miners are rewarded in Razer Silver—a digital (non-crypto) asset based in Razer’s loyalty program. Users can trade Silver for gaming mice, keyboards, games, and more. According to the website, a gamer with the “proper setup” can earn 500 silver per day. Silver lasts for a year before expiring and isn’t very valuable. As reported by CCN, the cheapest Razer Silver item is a $5 discount to the storefront, which costs 1,500 Silver. That match converts to $1.67/day or $0.07c/hour. Also, that number doesn’t include electricity prices.

Users cannot convert Silver to fiat currency, though they can purchase a $10 Domino’s Pizza gift card for 14,000 credits. That’s about a month’s worth of consistent mining. In fact, mining for 24 hours a day every day of the year only nets 182,500 Silver. That’s just under 100,000 less than the most expensive item, the Razer Huntsman Elite, at 280,000 points. This news, on top of Silver expiring yearly, doesn’t seem like much of a deal for miners.

Also, these numbers are going to drop as more people get involved. And that’s assuming Razer is entirely forthcoming about all the data.

Twitter users aren’t happy about this at all. The first reply reads, “Seriously? This is an early April fools joke right?” Another user states “Wow. What exploitative, bad for the environment, bad for people’s equipment, fing nonsense. Grats on loosing a customer for good.”

Unsurprisingly, Razer isn’t the only major PC company to release a software miner. Last month, Asus dropped its own version of SoftMiner in partnership with Quantumcloud. Interestingly, Asus enables users to cash out via PayPal or WeChat, while Razer miners are only rewarded in Silver.

We can expect to see some clarification from Razer in the coming days. That said, at least we are getting more mainstream exposure regarding cryptocurrencies. If only it were a bit more positive.

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