Grin ASIC Miner is Coming Soon at Price Around $20000
It is reportedly that crypto miner manufacturers including Vidtoo, Innosilicon, Obelisk are planning to launch ASIC miner for Grin this summer.
Known as a crypto without ICO, pre-mining and investors, Grin was in its heyday in the early 2019. Since January 16th, Grin’s price have three peaks: $14.7, $13.3 and $6.4. The lowest price is $1.9. The current price is $3.2 and its current market value is about $54.3 million.
Adopting ‘Cuckoo Cycle’, a algorithm of POW consensus mechanism, the algorithm of Grin can be divided into C29 and C31. The initial C29 algorithm will produce 90% of the block, and C31 will produce only 10% of the blocks. The proportion of blocks produced by the former decreases by 1% per 8 days, while that of the latter increases by 1% as plan. Two years later (January 2021), the blocking rate of C31 will increases to 100%.
The design can ensure that GPU mining is the main method in the early period, thus attracting more people’s attention with low threshold. In the late period, it turned to ASIC Miner to pursue large-scale mining and win the recognition of miners, mining manufacturers, exchanges.
At present, SparkPool and F2Pool are the battlefield for Grin’s algorithm with 50% computing power. In August, Grin ASIC miner is coming with two types of G1 MINI and G1 PLUS, supporting C31and C32 mode.
The computing power of G1MINI is 50 Gps and that of G1PLUS is 500 Gps. Date of delivery varies with the price (October-December 2019). The highest price of the former is $1950 (13650 CNY), and the latter is at $19500 (1365,000 CNY).
At present, the whole computing power of C31 is 133.84 Kg. Take G1PLUS whose computing power is 500 g as an example. That is to say, the GPU computing power of C31 is almost equal to 274 G1PLUS or 2740G1MINI.
Grin takes 1 minute to produce 60 pieces per minute, 86 400 pieces in 24 hours. In September, the blocking rate of C29 and C31 was adjusted to 6:4. That is to say, the C31 algorithm can produce about 34,560 pieces in September, the estimated value is $108,518.4 if calculated at the current unit price of $3.14. Assuming there are only 274 G1PLUS in the market, the average revenue per unit reaches $396 (2772 CNY). So it’s not surprising that the unit price of G1PULS is close to 136,000 RMB, after all, it seems that it will payback in only 50 days. Who first launches Grin ASIC miner will make a lot of money.
There is no technical difficulty in Grin ASIC miner research and development, in fact, manufacturers are worrying about market expectations. Before that, manufacturers have achieved successful laboratory production, but the current inflation rate, the total market value, and price of Grin can not support mass production for Grin ASIC miner, so many manufacturers are on the fence.