TMGcore Building Enterprise-Scale Crypto Mining Facility In Heart Of Texas
TMGcore today unveiled the commencement of occupancy and crypto mining operations in a Class A Tier III facility located deep in heartland America, right in the Lone Star state. Located in Plano, TX, TMGcore entered into a strategic real estate investment partnership and a long-term lease for the facility with an affiliate of Houston-based Pinchal & Company, LLC. 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.
Principals of Pinchal & Company invested approximately $60M in 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.
“Of the $17M raised by TMGcore to date, we are 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,” said TMGcore CEO, JD Enright. “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 our stakeholders.”
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-madeASIC 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.”
TMGcore’s chip suppliers have developed custom ASIC boards to be 50%denser 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.
The company roadmap includes developing methods to become even more energy efficient, including establishing the first mining pool powered by renewable energy. TMGcore is also currently in the final discussions with a renewable energy partner as it expands to launch LEGACYII, a 100% renewable energy powered operation.
To expedite the development of their facilities, TMGcore will also be conducting a fully regulated security token offering in full compliance with US State & Federal securities laws to accredited investors. The LEGACY1 tokens will entitle holders to TMGcore crypto mining revenues. The tokens are expected to yield a 150% return on investment over a 24-month period.