Milestone Achievement
Cormint has achieved a significant milestone in our expansion with the energization of another tranche of infrastructure, increasing our fleet to 2 EH/s of self-mining at our flagship site in Fort Stockton, West Texas.
Technical Specifications
Cormint is innovating across the entire value chain of Bitcoin mining - power, engineering, and capital - in its pursuit to become the lowest cost producer of Bitcoin in North America.
While we delivered our first exahash of hashing power using our proprietary immersion solution, our expansions since have leveraged our in-house engineering expertise to design and develop an Air-Cooled solution that is tailored to the West Texas climate. This solution offers a different risk/return profile than our immersion solution, where we expect a blended fleet of immersion and air cooled miners will provide the optimal risk adjusted return for our investors given the flexibility afforded by our power, software and asic procurement strategies.
"This philosophy of maximizing return on capital employed and building a business that is resilient in bear markets while fully participating in bull markets underpins everything we do at Cormint."
Next Steps
The company's overseas manufacturing partnership is exceeding our expectations and enabling us to rapidly deploy our air-cooled solution at scale such that Cormint expects to deploy at least 100 MW in 2024. With substantial FIAT and Bitcoin on hand, Cormint is fully-funded to expand to at least 3 EH/s of self-mining in 2024 thereby making full use of the 130MW interconnection and substation capacity at Fort Stockton. The company is actively developing its pipeline beyond Fort Stockton with the goal of having 500 MW under management by 2026.
For more information, please visit www.cormint.com or contact us.
Contact: [email protected]