What is the Obelisk SC1 ASIC Miner?

Many currencies can only be properly mined by using an ASIC. This is especially true when it comes to Bitcoin, Litecoin, Dash, or now even SiaCoin. Obelisk SC1 is the first ASIC miner designed to mine Siacoin, or so rumors claim. Apparently, the coin developers have worked together with an undisclosed US ASIC manufacturer to build this unit. Numerous details are still shrouded in mystery.

The Siacoin Obelisk SC1 ASIC Miner

Whenever a new ASIC miner is released for a cryptocurrency, things get interesting quickly for its targeted coin. This was especially true in the Bitcoin world, as ASICs changed the mining game altogether. Over the years, we have seen similar devices appear for Litecoin, Dash, and now SC as well. But does Siacoin need such an ASIC in the first place and what its impact it will have on the ecosystem as a whole?

Considering the SIA ecosystem is all about decentralized cloud storage solutions, an ASIC miner for such a currency seems rather strange. Most people looking to mine SC either need to rent out their hard drive space or use their computer’s graphics card. With the upcoming Obelisk SC1 ASIC miner, that situation will come to change very quickly, assuming the product is legitimate.

Not knowing the manufacturer of these 28nm ASIC chips is a bit of a problem. Even though SIA Tech claims the company in question has around twenty years of experience, there should be no real harm in revealing who it is. We will not know for sure until more specifics are unveiled by the team over time. Keeping such vital information under wraps is quite disconcerting, as it makes everything appear less legitimate.

From the limited information we do have, we can deduce the device will cost $2,499. It is available for pre-order, which is more often than not a sign of an offer people should skip out on. Most Bitcoin mining manufacturers have offered pre-orders before, and only a handful of them ever shipped products to customers. It is unclear if the same could happen with the Obelisk SC1 pre-orders, but it is important to keep the history of such products in mind.

Additionally, this SIA ASIC is allegedly capable of mining at a speed of 100 GH/second. That is a substantial speed, which would reward users with up to 60,000 SC per month. At current prices, that equals 0.2 BTC or just shy of $500 at current Bitcoin prices. Moreover, keeping in mind how this device has an alleged power consumption of below 500 watts, it would instantly become one of the most profitable miners in all of cryptocurrency. When something sounds too good to be true, it often is.

With pre-orders available for perhaps the most lucrative ASIC miner in history built by an undisclosed manufacturer’s chips, it is obvious why some people doubt the legitimacy of this project. Moreover, the initial delivery date is set for June 2018, which means people are paying about a year in advance for a product they may not see before 2019 or later. It is a very big investment to make, and going the pre-order route still seems sketchy at best. It does not appear this miner will support different algorithms, and customers can only pay with Bitcoin right now.

  • Hedde van der Heide

    I don’t believe the business model to be sketchy by any means. The Obelisk team has been very transparent on the pre-sale as expected from the SIA folks. Although they had to extend the pre-sale period due to lack of interest(?), they have now managed to get the funds required to pay for R&D to get things going. Yes its a risk, but as you’ve stated the ROI can be very profitable. (even 250 GHs seems plausible, thats a 150k SC reward with 4k units sold with an exclusive 6 weeks mining period).

  • Zay-Gatsby

    The Sia team has been pretty transparent about alot of the latest developments, not just Obelisk. Just because the manufacturer has not been disclosed, doesn’t mean people are doubting the legitimacy. Actually there’s been over 1000 units sold, so nobodies questioning the legitimacy of the project.

    You also said “An ASIC miner seems strange for this kind of currency”. Which pretty much proves you did not do your due diligence before writing this. One of the main reasons the SIA team chose to go with an ASIC miner was for security reasons. SIA is dealing with people’s data, so security of the network has to be high on the priority list. Coins using only GPU’s are subject to sybil or 51% attacks whether it be one person with a lot of hash power or mining pools with ill intent. Moving the network over to ASIC miners renders sybil attacks almost impossible due to the hash required and/or simply making them not profitable at all.

    You should have probably did a bit more research before speaking on this topic.

    • David Stringfellow

      “Probably did”?

  • SoDoSoPa

    Wrong. You can also pay by wife transfer. Try their website before writing outdated bullshit.

    • “You can also pay by wife transfer”

      WoW!
      Wonder how many machines I will get for my old wife…A younger wife gets you a bigger machine?

      • 3 machines

      • SoDoSoPa

        No, you just get a big dick in your mouth!

  • David Stringfellow

    There is about an 85% chance that the manufacturer is TSMC, given the technology is 28 nm. Which begs the question, why 28 nm and not 16 nm? A 16 nm FinFET process is almost 4 times more power efficient than the older 28 nm technology.