TMGcore Crypto Mining Expands To Texas, $67 Million Invested To Be State’s Biggest Operation
Blockchain Technology firm, TMGcore has announced that it is has commenced occupancy and crypto mining operations in a Class A Tier III facility located deep in heartland America, right in the Lone Star state.
The Texas-based company began the project following huge inflow of investments from its strategic real estate investment partnership and long term lease for the facility with an affiliate of Houston-based Pinchal & Company, LLC.
Principals of Pinchal & Company invested approximately $60M into the project. In addition to Pinchal's initial backing, the real estate company also invested an additional $7M from Pinchal in a separate investment. The company occasionally invests in its tenants when a mutually beneficial opportunity presents itself. TMGcore then raised another $10M from private equity investors.
A First-Of-Its-Kind Project
At more than 150,000 square feet and fully capable of a 100 megawatt live power load, TMGcore's mining operation will be one of the largest independently owned facilities in the United States.
Of the $17M raised by TMGcore to date, the company said it is extremely gratified to have the very significant investment, support and shared vision between TMGcore, Pinchal & Company and the valued relationships Pinchal has formed over the firm's 31 year track record of exceptional results.
TMGcore said Pinchal and its investment group see where this technology can take many business sectors and TMGcore works tirelessly for this to be another exceptional investment for Pinchal & Company, and all its stakeholders.
The TMGcore Leverage
Leveraging the magic of its coolant and groundbreaking mining circuitry, TNGcore saw a massive opportunity to capitalize on the nascent and highly lucrative mining industry in a physical, tangible and industrial fashion.
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.
TMGcore 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.
How TMGcore Technology Works
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, difficulty of access and hashrate. TMGcore has also developed custom made ASIC mining boards that result in a 20% increase in token output.
TMGcore's chip suppliers have developed custom ASIC boards to be 50% more dense than traditional rigs and generate an ultra-low energy cost of only $0.04 kilowatts per hour. Combined with the Novec coolant, TMGcore's highly efficient operational software reduces deployment time by 80%, fixing issues and faulty boards in real time.