Mining giant Bitfury has acquired Hong Kong-based Allied Control, a technology startup specializing in the cooling of electronic devices.
The startup employs immersion cooling, whereby components are submerged in dielectric heat transfer liquids with low boiling points. These are superior heat conductors to water, oil or air. They transfer heat away from the heated components, upon which they vaporize. After releasing its heat, the vapor condenses back into liquid form in its “bath”, from where the cycle is repeated.
Two-phase immersion cooling is said to be 4,000 times more efficient than air. For BitFury, the technology will allow them to expand beyond the typically cooler climates favored for operation until now.
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Kar-Wing Lau, VP of Operations at Allied Control, drew parallels between his technology and that of Bitcoin:
“Both blockchain technology and two-phase immersion cooling are very disruptive in nature. Passive two-phase immersion cooling is especially promising for blockchain transaction processors as it addresses their need for flexibility and rapid deployment while allowing to take full advantage of higher hardware power density. BitFury, with its focus on efficiency, renewable energy and innovation, is the perfect match for this technology.”
For a detailed list of recent investment and M&A activity in the crypto industry, please visit the DC Magnates Crypto Deal Table.