Obelisk GRN1 Full Sale

Mining
1

We are pleased to announce the full Obelisk GRN1 sale. Units can be
purchased from https://obelisk.tech

This announcement is for miners that are expected to ship in October
2019. We will be offering 3 varieties of miner with the following
estimated specs:

GRN1-Mini:

+ $2,000
+ 70 graphs per second
+ 400 watts
+ Dimensions TBD
+ 25% off coupon for any GRN2 order (save up to $500 total)
+ $100 per miner to be donated to Grin development

GRN1:

+ $10,000
+ 420 graphs per second
+ 2200 watts
+ 135mm wide, 170mm tall, 400mm deep
+ 25% off coupon for any GRN2 order (save up to $2,500 total)
+ $500 per miner to be donated to Grin development

GRN1-Immersion:

+ $20,000
+ 840 graphs per second
+ 4400 watts
+ 1U model similar to SC1-Immersion
+ 25% off coupon for any GRN2 order (save up to $5,000)
+ $1,000 per miner to be donated to Grin development

Obelisk will be manufacturing a maximum of 2500 GRN1 units,
available in first-come, first-serve fashion. GRN1-Mini units count as 1/6th,
and GRN1-Immersion units count as 2.

Only 2,000 GRN1 units are available in this sale. The remaining 500 will be sold
by Obelisk at market-price when production is completed in October.

People who bought a GRN1 voucher have 3 options:

+ Receive a $2,000 refund
+ Receive a single GRN1 unit
+ Receive 5 GRN-Mini units

The default is to receive a GRN1 unit, which will run at 2200 watts. The option
to receive multiple GRN1-Mini units is available for those who cannot
accommodate a 2200 watt machine.

The pricetag on the GRN1 may come as a surprise. The memory intensive nature of
Cuckatoo31 means that we need substantially more of the most expensive resource
when building a miner - silicon. The GRN1 is estimated to have about 5x the
silicon of an S9, and this correspondingly pushes up the manufacturing costs.
This is a key distinguisher for Grin from other ASIC mined cryptocurrencies.
Because total cost of ownership is much more weighted towards buying the
hardware and weighted away from electricity costs, it is easier for people with
higher electricity costs to compete.

As always, Obelisk is committed to customer success. We do not mine ourselves,
which means we are not in competition with our customers, and we always make
sure to produce responsible quantities of units, with full disclosures about the
manufacturing volumes. Too many times manufacturers have hurt customers by
directly competing with them, and by over-producing such that the difficulty is
pushed beyond a point where anyone is able to see reasonable revenue.

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2

I have my doubts regarding performance given the SC1 and DC1 yields. I will pass with this one and buy the next one. Thanks for your openness.

Are there any public sales number as for SC1/DC1 ?

3

We have completely re-done our internal process for determining speeds and power consumptions, including getting an audit of our process to get outside confirmation that we are following best practices and providing reliable results.

Our previous process would not have passed the audit, however our new process did pass the audit.

Each page for the SC1 and DCR1 has sales counts in a per-batch breakdown.

https://obelisk.tech/products/sc1.html

https://obelisk.tech/products/dcr1.html

4

I was asking for GRN1 :slight_smile:

5

Are their estimated dimensions on the Grin1-Mini yet? Why the hangup on that? Is it not as ready? I wanted to get some

6

Ahh my mistake, I misread. Right now you can see it directly from our API: https://portal.obelisk.tech/api/orderCounts?showAll=yes

We’ll add a progress bar to the page in the coming days.

We haven’t finalized the form factor for the Mini, though the current thought is a cube that’s roughly 100x100x100mm. We can’t commit to that at this point though. They will ship in October alongside the other GRN1 units.

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7

Nice to see the starting of your GRN1 Full Sale :sunny:

And may I ask the status of 1st Phase Vouchers Sale? How many Vouchers did Obelisk sell? and the maximum units here include the Vouchers orders or not?

  • 2,500 GRN1 Units
  • 6 times or 15,000 GRN1-Mini Units ?
  • 1/2 times or 1,250 GRN1-Immersion ?

To recap your Vouchers Sales:

Obelisk will be conducting a two phase sale of GRN1 miners. The first phase is a voucher sale where we will be selling $3,000 vouchers, each convertible into 1 Cuckatoo31 mining unit. This sale will be open from January 17th to February 1st, and a total of 10,000 vouchers are available.

Reference: The Obelisk GRN1: An ASIC for Grin | by David Vorick | Obelisk Blog | Medium

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I’ve just published an analysis of the sales of DCR1s. If my analysis is correct, Obelisk raised more than $13m in DCR1 sales. No DCR batch produced ROI for any purchaser.

See this article.

[Edit 4/10: new article related to delivery practices]

9

So the cheapest ASIC GRN1-Mini will produce around 21 Grin per day?
Or after releasing all the asics the reward will sink signifiantly even when having excellent hashrate?
What do you think?
If not, I´ll definitely buy one Mini.

10

Of course after all those asic miners will be delivered and run mining complexity will significantly increased

11

Well, make some calculations please.
You´ve got the limit of units, estimate hashrates, everything.
Do your homework guys, I know you can do it :face_with_hand_over_mouth:
There are so many price predictions about every crypto, so this one shouldn´t be difficult four you.
I am waiting.

2 Likes
12

So those who bought first coupons of GRN-1 will get GRN-1 at coupon prize ?

13

Why do you keep asking about SC1/DC1 miners when this thread is ostensibly about Grin miners on a Grin forum. Am I missing something? How is this relevant?

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14

History in execution matters when a company is asking for a preorder. In this case, the company has only produced two miners (the SC1 and DCR1) so they’re the miners that are relevant for that. Analyzing the company’s promises vs. performance for those prior sales is smart, particularly when this pre-sale asks consumers to trust that the company can deliver on a promise in 6 months in exchange for giving money today.

15

Again, Could the Obelisk answer this question? so as to understand the total units.

And may I ask the status of 1st Phase Vouchers Sale? How many Vouchers did Obelisk sell? and the maximum units here include the Vouchers orders or not?

16

Approximately 75 voucher orders. The 2500 maximum is the total number of GRN1 that we will be manufacturing, this includes the voucher orders. Sorry for the delay on the answer.

Yes, the people who spent $3,000 on a GRN1 voucher can convert that into a GRN1 unit which is selling for $10,000 today, at no additional cost.

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17

please correct me if my math is wrong:

Returns for 1 GRIN1 ASIC @420 GPS C31:

Nethash NOW: 58675 GPS
Returns NOW: 123.589 GRIN/DAY

Returns after 2500 units are on market:

Nethash THEN: 58675+(2500*420)= 1108675 GPS
Returns THEN: 123,589Ă·(1Ă·58675)Ă—(1Ă·1108675)= 6.54076674 GRIN/DAY

*This calculation DOES NOT account for three important things:

  • Other ASICs from other manufacturers
  • C29 Hashrate THEN!
  • GRIN price
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18

If you take actual PRICE into consideration:

Price NOW(04/11/2019): 2.96$
Return NOW: 123.589*2.96 = 365.82$ / Day
ROI NOW: 10000Ă·365,82 = 27.34 Days

Price THEN: ? (will use Price NOW)
Return THEN: 6.54076674Ă—2.96 = 19.36$ / Day
ROI THEN: 10000Ă·19.36 = 516.53 Days

*Again This calculation DOES NOT account for Price THEN!
(the crystal ball i ordered from Amazon didn’t arrive yet!)

3 Likes
19

Checks out for me; used whattomine.com calculator for Grin C31, and the hashrate increase would be a multiple of current hashrate of 21. If that equates to a increase of difficulty by a factor of 21 (that’s how that works right?), then yes, a GRN1 will be putting out ~6.30 grin a day.

21x difficulty would be “347,007,193.281“

https://whattomine.com/coins/299-grin-cuckatoo31?utf8=âś“&hr=420.0&d_enabled=true&d=347%2C007%2C193.281&p=2200.0&fee=0.0&cost=0.1&hcost=0.0&commit=Calculate

Edit: To put that in some perspective, in order to equal the daily profit we are seeing with these numbers today, then no other products can come to market to increase total hashrate/difficulty, and Grin would have to be at about just under $60 per Grin.

2 Likes
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A little more diving in on the hypotheticals:

Let’s say your target ROI is ~6 months on a $10k GRN1.

Let’s also say Innosilicon and Bitmain release miners in about the same timeframe, and the difficulty is 2x what the hashrate will be with 2500 GRN1s on the market plus today’s current difficulty. That number could be within a huge range, but let’s keep it simple and hopefully this is more towards the “worst case scenario”.

So difficulty at “694,014,386.562”, and producing about ~3.15 Grin per day. To ROI in a ~6 month timeframe Grin would need to be priced at ~$17.70 and electric at $0.1 kw/h with all other numbers staying stable.

Now, what’s the phase out schedule of C31? I read that it’s around 7 months? Is that starting in October when these are due to deliver? And doesn’t C32 phase in proportionally during the entire C31 phase, meaning the last couple months will be 80-90% less or so?

Seems like >$20 Grin will be the price necessary for these to have “reasonable” ROI.

Hopefully the $1.25 million donated to Grin Dev if all of these sell will help get it there. :grinning_face_with_smiling_eyes:

1 Like