Bitcoin mining firm CormintInc raised $30 million Series A round to build out 2.4 EH/s of computing power in West Texas. egreechee reports
Bitcoin mining startup Cormint Data Systems raised $30 million in a Series A funding round co-led by its president to build a data center with 2.4 exahash/second of computing power in Fort Stockton, Texas.
The round was led by Cormint President Jamie McAvity and semiconductor firm Silicon Laboratories Chairman Nav Sooch. The chip firm’s former Chief Technology Officer Alessandro Piovoccari also joined in the Series A along with existing investors.With the price of bitcoin modestly rebounding and energy costs slipping, the mining industry isfrom a prolonged crypto winter that saw a number of high-profile bankruptcies and defaults.
Cormint plans to have the 2.4 EH/s of self-mining computing power up and running by the end of 2024 at the Fort Stockton site.
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