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What is the iPollo G1 profitability (Grin miner)?

What is the iPollo G1 profitability (Grin miner)?

  • 10 February 2022
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The iPollo G1 profitability is among the top 15 ASIC miners with a daily profit of 21USD. The miner uses Cuckatoo 32 mining algorithm and 32 GPS mining power. Released in Dec 2020, this green miner uses 2800 W electricity power. The G1 miner has become popularized as the Grin coin fame had been grown among the crypto community.

What is the Background of the iPollo organization?

Based in Singapore, the iPollo company has become one of the main rivals of big companies such as Bitmain and Goldshell. The company’s goal is to improve computing power while keeping stability and lowering the power consumption and strengthening the security of the blockchain network. They have proven their mission statement in the industry by developing high-quality mining servers which remain profitable in the fierce crypto mining competition.

They produce user-friendly mining servers with good-looking design and high throughput. The variety of their production line is not limited to Bitcoin B miners, Ethereum V miners, and the world’s first Grin G miners, but it is expanded to Swarm, Filecoin, Chia, and other networks using the Proof of Capacity protocol. Rather than the G1 model, other profitable iPollo miners are the B2 and B1 using the SHA-256 algorithm with 12 USD and 7 USD profit per day.

What is the Cuckatoo 32 mining algorithm?

The Cuckatoo 32 mining algorithm is the improved version of Cuckatoo 31 used to mine Grin before the network’s hard fork in 2020. The mining difficulty has kept rising in Cuckatoo 31 chain, so, the miners have shifted to the 32 version, and the iPollo G1 and iPollo G1 mini are the only mining servers using this algorithm without any competition.

The price of the Grin coin is 0.18USD at the time of writing this article. The market cap of Grin is only 17 million dollars positioning the network at 843 ranks. The exchanges that accept Grin are Kucoin, Gate.io, HitBTC, BKEX, and CoinW.

Grin has introduced in 2016 by an unspecified ID named Majorplayer on a bitcoin research IRC channel. A link with the title of Mimblewimble had been left there and the user has signed out. The Mimblewimble protocol provides a total private transaction function which is safer than the Bitcoin network as all the transactions are confidential.

Is it worth it to invest in buying an iPollo G1?

The iPollo G1 profitability is 7.8K USD in a year while the price of the device is 22.9K USD! The ROI of this miner is only about 33% in a year, meaning almost three years are required to cover the initial investment which is not worth it. Rather than the initial investment amount, the ROI also depends on the Grin price. Therefore, with the current market recession, the device’s income has declined dramatically.

Is it worth it to invest in buying an iPollo G1?

What are the specifications of the iPollo G1?

The specifications of iPollo G1 miner are as follows. Also known as Nano labs iPollo G1 Grin Miner, 30 FinFET chips with the size of 12nm are installed on 3 chipboards in each device. Released in Dec 2020, the device works with 3800W power consumption and a 12V electricity supply. The server is equipped with four strong fans providing an effective cooling system. The size of 158 x 350 x 355mm and the weight of 19Kg, make it difficult to be installed in homes. The 5 – 40 °C temperature, 5 – 95 % humidity, Ethernet interface, and 75dB noise level are among the normal industry indexes.

Specifications

Manufacturer iPollo
Model G1
Also known as Nano labs iPollo G1 Grin Miner
Release December 2020
Size 158 x 350 x 355mm
Weight 19000g
Chipboards 3
Chip name FinFET
Chip size 12nm
Chip count 30
Noise level 75db
Cooling Fan
Fan(s) 4
Power 2800W
Voltage 12V
Interface Ethernet
Temperature 5 – 40 °C
Humidity 5 – 95 %

Comparing the profitable ASIC miners

The iPollo G1 is ranked in 14th position in comparison to other ASIC miners, delivering 21 USD profit per day. This analysis, however, is incomplete as the ROI as the main factor is not considered. Miners that are above the iPollo G1 include Innosilicon A10 Pro+ ETH (55 USD/day), iBelink BM-K1+ (63 USD/day), Bitmain Antminer L7 (73 USD/day), and Innosilicon A11 Pro ETH (76 USD/day). Below the iPollo G1 are occupied with the Goldshell LT6 (21 USD/day), Bitmain Antminer S19 XP (19 USD/day), Bitmain Antminer D7 (15 USD/day), and StrongU STU-U1++ (15 USD/day).

Comparing the profitable ASIC miners

What is the best Cuckatoo 32 miner?

As mentioned above, the iPollo G1 and the iPollo G1 Mini are the only ASIC miners using the Cukatoo32. Previously, AMD GPU rigs were used for Grin mining by applying the Cuckatoo31 mining algorithm. The iPollo G1 profitability of a 21USD per day comes at the top of the list. The G1 Mini produces only 0.65USD per day in the current market condition which is not profitable compared to the initial cost of the miner.

What is the best Cuckatoo 32 miner?

Conclusion

The iPollo G1 profitability is 21USD per day using 36 GPS mining power and the Cuckatoo32 mining algorithm. The miner is ranked 14 among the ASIC miners in the industry, however, the return on investment of the miner is 33% of the initial capital in a year. Also, the limitation of mining only Grin coins can consider a disadvantage particularly during market recessions and Hard forks. Generally, the iPollo company is one of the high-quality producers of mining servers in the market. For starting a mining business, the best way is to do complete research.


Why Bitcoin cloud mining?

The Bitcoin network introduced to the world in 2009 by an unknown individual or group called Satoshi Nakamoto. In 2021, there are more than 10,000 different projects in the field of cryptocurrencies. Each of them has its role in building the future of money.

The market value of cryptocurrencies reached $ 1 trillion for the first time in January 2021. It passed $ 2.5 trillion less than three months later. It shows that this market is one of the growing markets in the favor of its investors.

Bitcoin Cloud Mining is the process by which you participate in a mining pool to a cloud miner website and purchase a certain amount of hash power. In this pool, the profit will distribute equally among all participants who have participated in the mining pool. It will happen based on hash power. The cloud miner platform allows you to mine your Bitcoin without installing any hardware and at no extra cost. Minerland, the best crypto cloud mining service, helps you invest in Bitcoin easily and with low risk.

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