In the lone star state, one crypto mining firm is taking mining to the next level. TMGcore proudly calls itself “one of the world’s most advanced blockchain technology companies” and it can rightly do so. Crypto mining is highly energy intensive, and a lot of this power is used simply for cooling the mining rigs. However, the team at TMGcore have come up with a novel solution that will slash its power bills for cooling by up to 90%.
Traditionally, crypto mining firms operate in cooler climates, such as Canada, China, and Russia. Thanks to TMGcore’s innovative technology and engineering, mining firms will now be able to efficiently mine cryptos from just about any location on the planet.
Two Phase Liquid Cooling
It doesn’t use the traditional methods of using nature combined with AC to cool its mining equipment. This traditional way becomes very energy intensive, and as Facebook once discovered, this can cause weather systems to form inside the warehouse. In order to cut power costs – and to become greener – it has custom made ASIC mining chips that will then be immersed into a pod filled with a 3M cooling fluid. When this fluid heats up and becomes a gas, it will then be sucked out and taken to giant cooling towers outside, which will then cool and condense the liquid, which will then be pumped back into the pods. This closed cooling system is far more efficient than using ACs and rapidly offsets the cost of implementation.
ACs Still Required
Temperatures in Texas can soar as high as 36*c, which doesn’t help when it comes to cooling computer equipment. Over the summer months – June, July, and August – TMGcore has said it will need to turn the ACs on to help with the cooling process due to the excessive heat. Running the ACs part time to help out the two phase liquid cooling will still mean the company is running at a fraction of the cost a traditional crypto mining farm would. In addition to this, the cost of running the ACs for three months will be easily covered by the block rewards gained.
Rising Cost of Power in Crypto Mining
The rising cost of electricity for crypto mining firms is becoming so great, many have been forced to go out of business. America has recognized this issue, and has given municipalities in New York and Washington state the ability to decide on their own power rates for crypto mining firms. However, some of these municipalities have had such an influx of requests, to the point that they have had to suspend the application process over fears the local infrastructure cannot meet the demand. Elsewhere around the globe, hyperinflation in Venezuela has rendered power virtually free and in turn locals are mining Bitcoin in order to feed their families.
With the cost of electricity for crypto mining firms on the rise, the need to become more energy efficient has increased substantially. As more miners join the Bitcoin network hash rate, the difficulty level per block will only increase, meaning that more power is required to compete and become profitable. Companies like Bitmain already control vast amounts of the network hash rate, so it will be hard work and an uphill battle for TMGcore to compete for block rewards.
