Bitcoin Miner Cormint Raises $29M in Series B Round - TheMinerMag (https://theminermag.com/news/2024-07-23/cormint-bitcoin-miner-equity-raise/)

Bitcoin mining firm Cormint Data Systems has raised $29 million in a Series B equity funding round, co-led by its existing equity investors, bitcoin lenders, and Jamie McAvity, Cormint’s president and CEO.

The company announced on Tuesday that it has recently achieved 2 EH/s of energized hashrate in West Texas, with 75 megawatts (MW) of proprietary bitcoin mining load under management. With the new funding, Cormint said it is fully funded to reach 130 MW and 3.5 EH/s by fall 2024, implying a fleet efficiency of approximately 37 J/TH.