TMGcore is running high-efficiency crypto mines in Texas – TechCrunch

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% 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 realtime market value and difficulty of access for the most profitable deployment of resources in realtime. 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 US and to prevent overseas control of the various currencies.

“Giving America a seat at the table is our #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 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.”

[gallery ids="1665763,1665766,1665765,1665764"]

Cool read from TC Source Link

Comments

Post a Comment

Popular posts from this blog

Google’s new Tour Creator lets students make their own VR tours – TechCrunch

Image
Google today launched a new tool for teachers and their students called Tour Creator, which allows anyone to create their own VR tour using imagery from Google’s Street View or their own 360-degree photos. The new app is designed to work with Google Cardboard and Google’s existing VR “field trips” app Expeditions . The goal with Expeditions is to let people virtually travel the world to see far off places they may never have the chance to visit in person – like Antarctica or Machu Picchu, for example. Google says that since Expeditions’ arrival in 2015, over three million students have virtually visited places around the globe. Now, the idea is to let students and teachers themselves build their own VR experiences and stories without needing technical knowledge. Instead, using Tour Creator, anyone can build an immersive 360-degree tour from their computer. To use the service, you click to get started, give the tour a name and upload a cover photo. You can then search through Go...
Read more

New malware highjacks your Windows clipboard to change crypto addresses – TechCrunch

Image
In what amounts to be an amazingly nefarious bit of malware, hackers have created an exploit that watches 2.3 million high-value crypto wallets and replaces the addresses in the Windows clipboard with an address associated with the hackers. In other words, you could paste your own wallet address – 3BYpmdzASG7S6WrpmrnzJCX3y8kduF6Kmc, for example – and the malware would subtly (or unsubtly) change it to its own private wallet. Because it happens in the clipboard most people wouldn’t notice the change between copying and pasting. Security researchers at BleepingComputer have found similar hijackers in the wild but this latest version is actively watching valuable wallets and trying grab bitcoin as they enter the accounts. Below is an example of the malware at work. The malware runs a massive, 83MB DLL file that masquerades as a Direct X service. Inside the DLL is a 2.5 million line text file full of bitcoin addresses. In the above test when cutting and pasting from an HTML page into W...
Read more

Bitcoin passes $7K bringing all 100 top coins up with it – TechCrunch

Image
Bitcoin is moving up, and it’s taking 99 of its best friends along for the ride. In the last 24 hours, every one of the top 100 coins by market cap was in the green with 84 of them posting gains of over 5 percent. At the time of writing, Bitcoin was sitting at $7,310, up 14 percent in the last 7 days and up almost 10 percent in the last 24 hours. CoinMarketCap Top 100 Bitcoin itself crossed the $7,000 mark for the first time in the last month, an indication but no sure sign that it might be shaking off a summer slump that’s seen prices plunge below $6,000 on more than one occasion. Bitcoin is quickly moving back toward early June norms around $7,500 though may meet resistance at $7,750 . In March, Bitcoin dipped below the $10,000 mark and it’s been unable to mount a rally back above that level in the months since. screenshot via CoinMarketCap They may not last, but mid-July’s gains aren’t just a Bitcoin story. Out of the top 100 coins, 24 coins made double digit gains in the l...
Read more