Share this article
Bitcoin Miner Cormint Raises $30M Series A to Build Texas Data Center
Executives of Nasdaq-listed semiconductor firm Silicon Laboratories participated in the funding round.
May 16, 2023, 3:19 p.m.
Make us preferred on Google
Bitcoin mining startup Cormint Data Systems raised $30 million in a Series A funding round co-led by its president to build a data center with 2.4 exahash/second (EH/s) of computing power in Fort Stockton, Texas.
The round was led by Cormint President Jamie McAvity and semiconductor firm Silicon Laboratories (SLAB) Chairman Nav Sooch. The chip firm’s former Chief Technology Officer Alessandro Piovoccari also joined in the Series A along with existing investors.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The fresh capital adds to 400 BTC ($10.8 million) raised in late 2022 through promissory notes.
With the price of bitcoin modestly rebounding and energy costs slipping, the mining industry is starting to emerge from a prolonged crypto winter that saw a number of high-profile bankruptcies and defaults.
Cormint plans to have the 2.4 EH/s of self-mining computing power up and running by the end of 2024 at the Fort Stockton site.
Read more: Bitcoin Mining Earnings Wrap: Marathon Shares Underperform After New SEC Subpoena
Más para ti
Más para ti
The Genius Act ripple effect: Sui executives say institutional demand has never been higher
Evan Cheng and Stephen Mackintosh said 2025 marked a turning point for institutional adoption, with tokenization and agentic commerce emerging as the next frontier.
Lo que debes saber:
- Executives cited ETF flows, DAT growth and major trading firms entering crypto.
- Tokenization and instant settlement could blur the line between traditional and decentralized markets.
- Low-latency design and composable tooling aim to power AI-driven and tokenized financial use cases.
