Everything is bigger in Texas. Why should the cryptocurrency-mining industry be any different?
TMGcore – a Texas-based blockchain firm - has acquired a data-center near Dallas. The company closed on the 150,000 square foot data-center last week, according to a Dallas Morning News report. The data-center was just recently built for $60 million.
The data-center is being called one of the “largest blockchain-related projects in North America.”
The acquisition represents a big development for TMGcore, as well as the next evolution for blockchain companies. TMGcore specializes in cryptocurrency mining. It uses custom-built mining rigs to mine bitcoin and other cryptocurrencies. Mining rigs, unfortunately, require huge amounts of energy. The new data-center has a 105 MW live power-load. CEO J.D. Enright explained: “One of the things you need [to mine cryptocurrency] is a lot of power, and there’s not a lot of places with 100 MW lying around.” The company found the new data-center to be a perfect fit.
The Dallas area is one of the national leaders for data-centers. The region offers cheap land and, more importantly, inexpensive energy. Crypto-mining companies have traditionally settled in Canada and the Pacific Northwest, where hydroelectric power is both cheap and abundant.
The Dallas area hopes to attract more blockchain-based companies looking for cheap energy sources. The local demand has been so high, TMGcore’s data-center was built on speculation (with no tenants lined up).