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Sustainable mining firm and energy tech company CleanSpark (CLSK) announced on Thursday that they had purchased a 20-megawatt immersion cooling infrastructure for their Georgia bitcoin mining facility. They anticipate that this cooling infrastructure will increase their efficiency by over 20% and significantly reduce the operation expenses of the facility.
Liquid immersion cooling is the latest iteration of cooling systems and an alternative to the traditional air-cooling methods. Mining rigs are immersed in a synthetic hydrocarbon compound liquid with no electrical conductivity and entirely biodegradable. Because the machines run less hot, power consumption is reduced. As added benefits, noise is also diminished, and the machines have longer lifespans.
Air cooling systems require regular upkeep and a replacement of parts and filters because air carries particles.
“We are constantly seeking ways to make our operations more sustainable and productive while achieving maximum performance. Deploying an environment-friendly cooling technology that also increases the economics of our bitcoin mining operations was an obvious choice for us,” CleanSpark CEO Zach Bradford said in an interview with Coindesk.
CleanSpark Not the Only Miner Looking to be More Environmentally Conscious
The VanEck Digital Transformation ETF (DAPP) has CleanSpark as one of its holdings at 3.45%, but they aren’t the only company on the DAPP roster looking to become greener and more energy-efficient. Canadian Mining firm Hut 8 (HUT) also focuses on being sustainable. Hut 8 has signed the Crypto Climate Accord and has set a decarbonization goal of 2025.
Riot Blockchain (RIOT) is also planning to utilize a liquid immersion cooling method in their Texas facility. They see a 50% increase in hash rate due to the new technology. The greater energy efficiency, combined with less need for parts and machine replacement are a net gain for reducing the environmental impact of the crypto space.
DAPP holds Hut 8 at 4.98% and Riot at 5.72%. It has an expense ratio of 0.50%.
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