Obelisk, a manufacturer of ASIC mining hardware, launched a next-generation mining system called The Obelisk GRN1. The intention is to target the Cickatoo31 Proof-of-Work (PoW) algorithm.
The new chip includes new improvements to the hashing boards, control boards, mechanical design and also enhancements to the PSU. The information was released by the company on January 17 in a blog post. The team behind Grin decided to start developing ASICs for the Cuckatoo31+ algorithms on Grin. At the same time, it has provided code that defines a specification for the Cuckatoo31+ algorithms.
According to the press release, hardware development faces serious challenges in terms of flexibility. Modifying a product can result in several months of delays. Now, the Grin team has given Obelisk all the required confidence to move forward with development and commit to a final design.
The company has decided to create the most competitive miner possible with a large number of very large chips. In this way, they will be packing as much density as possible into the machines. According to the company the GRN1 is expected to have 10,000 mm2 of silicon, and because of this, its price will be higher.
Obelisk explains that they will be making a two-phase sale of the new GRN1 miners. The first one will be related to a voucher sale in which the company will be selling $3,000 vouchers that can be convertible into 1 Cuckatoo31 mining unit. The sale starts today January 17th and it will last until February 1st. There are 10,000 vouchers available.
There will be a second phase that is a full machine sell that will be going live in March. The price of the units will be $6,000 each. Voucher holders will have the possibility to exchange their vouchers for hardware devices without any additional cost.
Obelisk informs that if there are clients that do not feel comfortable purchasing the Cuckatoo31 miner, the firm will be issuing a refund of $2,000. However, there are only two weeks for voucher holders to claim a refund.
The firm has also explained what they will be doing with the funds received from selling mining equipment. Obelisk wrote about it:
“During the first phase, we will be setting aside $100 per voucher sold to fund Grin development. During the second phase, we will be setting aside $500 per new unit sold for Grin development. The majority of the money collected for Grin development will be used to fund no-strings-attached stipends for independent developers. The remaining money will be set aside to fund high-priority endeavours such as security audits.”
Obelisk said that they are not comfortable providing technical specifications. They explained that they have not finalized the chip or completed the final verification and layout stages of design.
Nevertheless, they expect that the unit will be performing at least 100 graphs per second and consume no more than 800 watts. This can be compared with the NVIDIA RTX 2080 Ti. It performs less than 2 graphs per second and it also consumes 250 watts.
The company is working in order to protect Grin against 51% and censorship attacks. This is very important for the community after all the attacks experienced by other projects in the market.