The mining activity means a high volume of electricity consumption and an excessive heating of equipment. To avoid these issues, many miners have moved to cold countries such as Iceland. Hence, a Texas-based platform comes with counter-arguments.
Blockchain-based company TMGcore comes with a solution against excessive heating of mining equipment. It shows that no relocation is necessary to avoid the possible negative consequences of the mining operations. As reported by Dallas News, the company uses tailor-made mining rigs plus a patented cooling method. TMGcore intends to establish a 150,000-square-foot data center in Plano, Texas.
TMGcore will use a two-phase cooling system
The Texas-based company is set to use a two-phase liquid absorption cooling system in order to avoid high temperature produced by mining operations. In other words, the process includes a cooling fluid that ingests heat and transforms it into gas or liquid.
The company’s CEO, J.D. Enright, explained the influence this system could have:
“It eliminates 100 percent of the need to be in a geographic location conducive to air-cooled mining, and we’ve eliminated 90 percent of the cost associated with removing the heat in air-cooled mining.”
Pinchal & Co., one of the company’s investors, acquired the data center based in Plano with $ 60 million.
TMGcore wants to make changes within the crypto mining system
Many of us will associate Bitcoin mining with Bitmain, the billion-dollar leader of the sector. One aspect that TMGcore wants to change is linked to the fact that Bitmain is undoubtedly a centralized body, which just plays an important role in the decentralized general system.
Chris Herrmann, who participated in the Plano negotiations, expressed his point of view:
“They’re interested in this market because power costs are low enough to make their model work. When you look at their costs, the major variable is the cost of power. And with power prices being at historic lows in Dallas, we now have one of the few markets where the crypto guys can make it work.”
The electricity costs in Texas are considerably cheaper than the national average (under $ 56 per megawatt hour).