Out on the plains of East Texas, not far from Dallas, a company called TMGcore is mining crypto. The company, funded to the tune of $70 million, will be mining multiple cryptocurrencies and is using some unique technology to ensure that it doesn’t eat up an entire city’s worth of energy.
“TMGcore will be one of the first companies to utilize 3M’s Novec fluorochemical coolant at the heart of an enterprise scale cryptocurrency mining apparatus,” said CEO JD Enright. “The company’s intelligent mining system uses a two-phase liquid cooling immersion technology to dramatically decrease cooling costs by up to 90 percent and lets the company conduct mining operations from anywhere, including the middle of hot and muggy Texas. TMGcore also employs dynamically intelligent mining software that automatically mines the most profitable coin based on real-time market value and difficulty of access for the most profitable deployment of resources in real time. Our technology is first-to-market and delivers a transformative approach to crypto mining that stands to fundamentally disrupt the market.”
The goal is to create mining infrastructure in the U.S. and to prevent overseas control of the various currencies.
“Giving America a seat at the table is our No. 1 goal here at TMGcore. Our cooling technology and efficient mining rigs open up more regions of this country to house this type of operation,” said Enright.
The mine is housed in Plano, Texas inside a 150,000 square foot facility and is capable of a “100 megawatt live power load.” Further, the company is running custom ASIC chips to increase board density and reduce mining costs significantly. In short, it will be one of the highest tech mining facilities in the world.
From the release:
The company has developed a unique use case with a fluorochemical coolant that delivers smart, safe and sustainable cooling for industrial technology operations. TMGcore will be one of the first companies to utilize this compound at the heart of an enterprise scale cryptocurrency mining apparatus. The company’s intelligent mining technology uses a Two-Phase Liquid Cooling Immersion technology to dramatically decrease cooling costs by up to 90%. The system also dynamically adapts its mining efforts toward the most profitable token at any given time, factoring in real-time market price, the difficulty of access and hash rate. TMGcore has also developed custom-made ASIC mining boards that result in a 20% increase in token output.
“Leveraging the magic of this coolant and groundbreaking mining circuitry, we saw a massive opportunity to capitalize on the nascent and highly lucrative mining industry in a physical, tangible and industrial fashion,” said Enright. “TMGcore seeks to deconstruct the mining monopoly in other countries with an American-made, U.S. driven approach that not only pushes the blockchain ecosystem forward but also creates job opportunities for Texas’ fast-growing technology community. We understand the importance of the research and development that creates not only innovations but the efficiencies that support the blockchain industry on a global scale.”
“Texas, more so than many other states in this country, has an abundant supply of energy available on their grid with available real estate to house such a project,” said Enright. “Cryptocurrency mining has not really been able to take advantage of Texas’ energy supply to date because the state is too hot. By utilizing Novec in this two-phase liquid cooling immersion technology, we have unlocked Texas’ potential to mine for the first time.”