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The Plan

Dear Obelisk Customers,

Production is progressing, firmware is almost complete, and we expect to begin shipping units this week. We now have approval from our team, board, and counsel to share our plan.

First, we will compensate Batch 1 customers with expected mining revenue. Since we missed the estimated shipment date for Batch 1, we will compensate all Batch 1 customers with the mining revenue that you would have received between June 30 and the day your order ships. As of today, this is approximately $90 for each SC1 unit and $250 for each DCR1 unit. If we miss the estimated shipment dates for Batches 2-5, this policy will also apply.

We will begin sending out this compensation to customers sometime after Batch 5 ships. Obelisk will calculate your expected mining revenue based on a hashrate of 800 GH/s for SC1 and 1500 GH/s for DCR1. Compensation will be in USD, and will assume that you exchanged your mined coins for USD on a daily basis and that your electricity cost is $0.

In the coming weeks, we will put together a more complete guide to receiving this compensation and publish our official calculations so that they can be reviewed by the community. Depending on Obelisk’s financial position after delivering Batch 5, it may take several months or more to compensate all customers. 

Second, we will release the SC1 alternative Blake2b algorithm in the coming weeks. This will give the Sia community the ability to fork and could invalidate all non-Obelisk Siacoin ASIC miners on the forked chain.

The Sia core developers are currently considering community member FaustianAGI’s proposal and will soon be issuing an official response. As of today, all Nebulous (the company employing Sia’s core developers) and Obelisk employees are supportive of a fork.
There are still many details to solidify, but we pledge to provide additional information in the coming weeks. We are working tirelessly to deliver your orders, and will continue to update you with our progress. 

Best,

– Team Obelisk
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