LiquidStack, the world leader in liquid immersion cooling, recently closed a Series B funding round, with all funds coming from diversified company Trane Technologies (TT).
Joe Capes, head of the start-up, said that the funds raised would be used to increase production. Their plan includes building a new plant in the US and setting up a research and development unit to increase the range of offerings and commercial operations. The new plant should be ready by the third quarter of 2023. At the moment, LiquidStack only has a plant in Germany.
LiquidStack specialises in two-phase immersion cooling, which is more environmentally friendly and requires fewer resources compared to air cooling.
Greater use of LiquidStack technology could lead to reduced water consumption to power and cool data centres.
Electricity is a major expense for bitcoin miners, so reducing power costs is a significant benefit. Unlike other solutions, which require 0.1 MW to 0.7 MW of energy for cooling for every MW used in real computing tasks, LiquidStack technology requires only 0.02 MW.
The company said it was the first to use immersion cooling for mining on a large scale. They added that when mining digital currencies, the choice is between paying now or dealing with the consequences later.