Coming off of their extensive long-term immersion cooling study, DMG Blockchain Solutions (DMGI.V) has decided to go ahead with preparations for a large-scale deployment in 2021. Immersion cooling will give DMG the ability to expand their Bitcoin mining operation while cutting their air-conditioning bill.
DMG has been developing its immersion cooling system as a potential work-around to the ongoing problem associated with high-energy ASIC-rig Bitcoin mining for close to a year now. Their contention is that the new system will reduce their capital expenditure by reducing their air conditioning bill, which will give them the opportunity to repurpose that cash towards buying new ASICs.
It’d be quite the coup for them if it works.
“Through the use of immersion cooling, we believe we can obtain a 30% uplift on the labelled hashrate on any piece of mining equipment, or up to 130 TH/s from a standard 100 TH/s miner. The long-term future of DMG’s strategy is to run everything possible in immersion. After a short amortization period, our marginal additional infrastructure investment in the form of tanks, dry coolers, pumps, fluid, etc., will create significant gains for DMG and create a competitive advantage beyond what air-cooling can achieve,” said DMG’s CTO, Adrian Glover in a press release.
Those numbers sound rather spicy, do they not? This, combined with reduced capital expenses, lowers return on investment time per megawatt of deployed mining, by up to 25%. Let’s take their existing substation at Christina Lake. It’s rated for 85MW. They have 60MW already operational and the rest is being installed. Their Bitcoin mining capacity is 2.0 exahashes of mining with air-cooled systems, which is a good rate, but would be 30% better in hashrate per miner, and therefore in overall bitcoin yield.
Shoot the offered links if you’re down familiar with the terminology.
If you’re unfamiliar, DMG Blockchain Solutions is a vertically integrated blockchain and cryptocurrency company involved in the management, operation and end-to-end development of digital solutions to monetize the blockchain ecosystem. They’re separated into three divisions: data centre operations, data analytics and forensics and enterprise blockchains. Mostly, they make their money from mining bitcoin, but side gigs include hosting services for industrial mining clients.
Also, here’s a YouTube clip offering more information on immersion cooling:
DMG is down $0.14 today, trading at $1.34.