Text files are very hard to efficiently parse in parallel because there are so many variable-length and conditionally present fields. That necessarily leads to branches in your code which GPUs are not designed for.
USERNAME:dotancohen\0\0\0\0\0\0
FOOBAR\0\0:\0\0\0\0\0\0\0\0\0\0\0\0\0\0\0\0
This might look ugly if you open it in Notepad, but so do XML and Org mode files. However an Emacs/VIM/VsCode plugin could make this seamless for the user.