Ipollo G1? Should I buy it or not?

Mining
1

Hi guys,

Is it worth buying a new G1? Asking because its cost is quite high and I think the electricity expenses will make the ROI impossible to reach.
I already have some G1 mini and I wanted something more powerful but I can’t find anything else.
Any ideas about some miner? It looks like Ipollo is the only company focusing on Grin miners.

Thank you in advance

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2

The G1 is not more efficient than a G1 mini, it is basically a bunch of G1 Mini chips stacked together. So calculate if the Grin you earned with your G1 Mini is worth more than the electricity costs you made (125 W).
You can calculate it based on the current difficulty, around 11 kGps, with 1 grin per second and a hash rate of approximately 1.2 G/s for a G1 Mini you get for one day

Profit: 6060241.2/(11000) = 9.43 Grin per day, at a price of 0.47$/Grin worth 0.443$
Costs: at 0.1$ per kWh = 24125/(1000)*0.1 = *0.3$

This means that the break even cost only considering electricity is currently 0.1 * 0.443/0.3 = 0.1476 $/kWh. In most cases your electricity costs will be higher, e.g. in EU and UK the costs are much much higher meaning you make a loss on mining even when excluding the costs of hardware.

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3

Yes it is. The G1 gets 36GPs at 2800W. That is 78W/GPs.
The G1 mini gets 1.2 GPs at 120W. That is 100W/GPs.

The G1 mini consumes roughly 30% more power for a given hashrate.

These numbers are from the iPollo spec.

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4

I think minerstat is broken, it is showing a high profitability that I don’t believe, but I haven’t done the math to check it.

This one seems more like it:

At $.30/kwh apparently I could mine 10 grin per day on average, at a daily cost of $.86, so I would be losing money.

5

I prefer

It shows stuff like solo mining options and it is mostly accurate.

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I suggest to buy G1 mini, it would be easier in case you want to resell later. Or if we have equipment issue, we can replace the parts.

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7

Ipollo G1-mini pulls ~85W on average, same energy use as G1/30. Perhaps the initial PSU released with the G1-mini at launch was 120W, which is why most of them died.

I buy both G1 and G1-mini. G1 is limited in that it can only go in an off site facility with 220V circuit that has high tolerance for noise pollution. Yes, G1-mini is easier for resale, and holds resale better value because of it’s larger market.

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I got one malfunctioned PSU of G1 mini, and have to replace it with a new one

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Confirmed to work for G1-mini: https://www.amazon.com/gp/product/B074GGMD5J/ref=ppx_yo_dt_b_search_asin_title?ie=UTF8&th=1

I also have have these spares for sale individually:

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10

It seems to me that the danger here is different, namely, if suddenly Bitmain decides to release an ASIC for mining grin, then the network will collapse and the complexity will skyrocket. Wouldn’t want that, of course! It’s better to leave things as they are. But still, there is a danger, because Bitmain they want to crush the entire ASIC market for alternative coins.

11

What other coins have been crushed by this process?

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Not sure what you mean with this? The network has nothing to do with the difficulty. If new more efficient miners are produced it just means that old miners might become unprofitable, no further impact on the project. Buying miners is always a gamble on whether you get ROI before better miners arrive.

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13

Ipollo website says that G1 ASICs are out of stock. Where do someone can buy one?
Also the price on the website is $8970, if this is indeed the current price of the asic, then it’s not worth it to buy. Because you can buy a bitcoin whatsminer asic for $2500 and just converting BTC to grin if you want.

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14

Probably it is not worth it to buy G1 for more than $4000. But the data to calculate it correctly is not available.

The Network difficulty is declining. (I have no good grin explorer source visualization.) From my memory the Hashrate was long time around 10k Graph/s and now the Hashrate is about 7k Graph/s. So what happens to the Miners? On the other public chain where G1 could mine (MWC) the difficulty is also declining.

  • Probably some miners are broken.
  • Hopefully some mine only part of the day, when the sun is shining and cheep electricity is available.
  • Some are unused, and could be sold but the owners prefer to HODL instead to sell at a loss.
  • Possibly some mine on a secret chain.

https://grinexplorer.net/chart/block
https://grinexplorer.net/?page=20000
https://minerstat.com/coin/mwc_cuckatoo31/difficulty
https://pool.easygrin.org/pool
https://explorer.mwc.mw/
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15

Not sure if NHASH is legit but it’s selling used G1 around $3500

IMO, G1 mini is better for re-sell, troubleshoot, replace parts…

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