Bitcoin Mining Giant Bitfury Trims Cooling Demands by 95% with ‘Magic’ Liquid

With cryptocurrency markets struggling, Bitfury Group has immersed its mining equipment in a non-conducive liquid to reduce costs at its 40-megawatt mining plant in Tbilisi, Georgia, as it races to mine the remaining 21 million mineable bitcoins.

The company’s investment in cooling technology signals the extent cryptocurrency miners are going to chill their energy-intensive computers, according to Bloomberg. Some have moved operations to Siberia and submerged them in oil, while one went as far as burying its rigs beneath the Eurasian steppe.

At a July visit to Bitfury’s Tbilisi site with a view of the Caucasus Mountains, Bloomberg witnessed 160 mining cooling tanks with extensively engineered fluid.  The company is using a liquid from 3M Co. called Novec, which has been used to draw water from the desert and contain auto racing fires.

CEO Claims Mining Remains Profitable

Valery Vavilov, Bitfury CEO, noted that the cooling technology reduces both space requirements and…