Innosilicon, a well-known Chinese manufacturer of ASICs for cryptocurrency mining, announced this morning via a Twitter post that the debut of Grin’s first mining units has been postponed by at least 2-3 months.
In recent months, however, several events have involved the mining of Grin. In particular, the manufacturer Obelisk, after raising funds last February 2019, has literally cancelled the production of ASICs for Grin mining, provoking heated discussions within the crypto community.
The company explained that it had noticed little interest in the products, as well as numerous production difficulties that led to unexpected costs. In detail, what had caused discussion and criticism among the miners concerned the methodology of refunds, made in bitcoin (when BTC was around 10 thousand dollars) but with a quantity equivalent to the amount in dollars paid during pre-orders when BTC fluctuated at just under 3500 dollars. All this has resulted in considerable earnings for the company.
Innosilicon’s ASICs for the mining of Grin will arrive at the end of the year
After Obelisk, also Innosilicon highlighted some design difficulties, which led the company to postpone the release of the devices, as well as significantly increase the price: about 25% above the initial listing price.
According to the official press release, Innosilicon reportedly had difficulties in designing a solution that could offer good performance, which meant taking longer than expected. Innosilicon had announced and made available in pre-order three products: the Grin Miner G32 Mini, the Grin Miner G32 500 and the Grin Miner G32 1800.
The first solution, the Innosilicon Grin Miner G32 Mini, is expected to be able to achieve a hashrate of 21.5GPS on Cuckatoo 31+ and 4.5GPS on the 32+ variant. All with only 140 Watts of absorption, at an initial listing price of only 799 dollars, which in August rose to 1250 dollars.
The Grin Miner G32 500 will be able to reach a maximum hashrate close to 100 GPS on Cuckatoo 31+ and 20 GPS on the 32+ variant, absorbing 520 Watts for a price of 4355 dollars.
Finally, the third model, the Grin Miner G32 1800 will boast a maximum hashing power close to 328 GPS on Cuckatoo 31+ and 68 GPS on the 32+ variant with a consumption of 1800 Watts per hour. In this case, the price has risen from the initial 9500 dollars of the pre-order to the current 14315 dollars.
Initially, the first batch of products was scheduled for October 2019, but following the unexpected events reported by the company, the new delivery date will be pushed between the end of December 2019 and the beginning of 2020. On September 30th, the company will announce a more accurate delivery date.
Dear valued customers, we'd like to share with you the status of our Grin product G32. pic.twitter.com/yo4RB9D25e
— Innosilicon Miner (@Inno_Miner) September 2, 2019
The company will obviously offer its customers the opportunity to be fully reimbursed by cancelling the order and thus losing their position in the queue. Those who decide not to ask for a refund will receive the products at the end of the year without any price increase.
To date, there are no ASICs for Grin mining (only GPU mining) and the most promising solutions under development are certainly those proposed – at least on paper – by Innosilicon.