Cormint Data Systems, Inc., a Fort Stockton, TX-based Bitcoin miner focused on mining low-cost Bitcoin at scale while supporting a reliable and renewable power grid, raised $30M in Series A equity funding.
The raise was co-led by its President, Jamie McAvity, and Silicon Laboratories, Inc’s (NASDAQ: SLAB) Chairman Nav Sooch, with participation from existing investors. Silicon Labs former CTO, Alessandro Piovaccari, also joined the round alongside Mr. Sooch, becoming advisors to the company as well as investors.
The capital from the Series A round adds to the capital raised through BTC denominated promissory notes issued in late 2022 and allows Cormint to expand its footprint at its flagship site in Fort Stockton towards its goal of 2.4 EH of self-mining capacity by the end of 2024.
