DMG Blockchain Solutions, a diversified blockchain and technology company, announced that it has signed a letter of intent with SixtyOneC Technology Corporation to co-develop and co-market turnkey immersion cooling solutions optimized for the needs of cryptocurrency mining.
DMG brings experience distributing power to crypto mining equipment, most recently demonstrated at its 85-megawatt-capable mining facility in eastern British Columbia. The company’s partnership with SixtyOneC seeks to advance cryptocurrency mining technologies through the introduction of immersion cooling solutions.
“By partnering with SixtyOneC, DMG gains a competitive advantage by offering solutions with more crypto mining power per dollar, accelerating DMG’s ability to expand its Mining as a Service (MaaS) hosting business while enabling its customers to enjoy greater profits. SixtyOneC’s technology also enables DMG to enter the HPC market with an immediate competitive advantage and scalability for rapid growth.”
SixtyOneC designs immersion cooling technology that increases the efficiency and performance of any computing hardware. By using SixtyOneC technology, companies can increase the output of their computing hardware through a process called ‘overclocking.’ In a traditional air-cooled environment, this process will quickly cause hardware to overheat and malfunction.
However, with SixtyOneC’s technology, the hardware is safely pushed beyond a 50% increase in performance. This technology also allows for a significant increase in hardware density, lower electricity costs and near silent operation.
“DMG is an ideal partner, as it brings the data center and system-level expertise required to bring immersion cooling to the mainstream. We look forward to a long-term relationship, which should be a catalyst for profitable growth for both companies.”