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Siacoin (SC) Sees Obelisk Miner Prices Explode after Hard Fork

Published 11/05/2018, 06:44 AM
Updated 11/05/2018, 08:00 AM
© Reuters.   Siacoin (SC) Sees Obelisk Miner Prices Explode after Hard Fork

The Siacoin (SC) hard fork produced several effects on the network, one of them being a spike in the price of Obelisk mining rigs. Also, after the October 31 update, the ASIC effect of Bitmain and Innosilicon disappeared immediately, crashing the hashrate of Siacoin to just around 1% of the previous mining power.

Since Obelisk ASIC machines are a bit slow in reaching their buyers, the Siacoin network may take a while to rebuild its hashing power. At this point, each new machine coming online will increase the hashrate, and, in theory, it is possible for the hashing power to be concentrated within a few larger pools or farms, at least initially.

Meanwhile, early buyers of the mining rig are having a field day reselling their machines as prices jumped immediately. A rig which initially retailed for around $650 has sold for more t...


This article appeared first on Cryptovest

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