Fort Stockton, Texas - May 19, 2023 - Cormint, Inc., a leading Bitcoin Miner focused on building the grid of the future, announced today that it has successfully raised $30 million in a Series A funding round led by Silicon Labs. The investment will support Cormint's rapid scaling efforts at their site in Fort Stockton, Texas, towards 130MWs, solidifying their position as one of the lowest-cost producers of Bitcoin in North America.

Cormint's team has been actively involved in Bitcoin mining since 2018, operating mining sites in New York and Texas. With their expertise in power, engineering, and financial management, Cormint has established a strong track record in the industry. The company's strategic location in Fort Stockton, Texas, offers favorable conditions for mining operations, including abundant renewable energy resources and a supportive regulatory environment.

The $30 million funding round was led by Silicon Labs, a prominent investor in innovative technology companies. Silicon Labs recognizes Cormint's potential to revolutionize the Bitcoin mining industry through its unique approach of harnessing Bitcoin-denominated debt to optimize operations and achieve cost efficiency.

"We are thrilled to have Silicon Labs as our lead investor in this Series A funding round," said Jamie McAvity, Founder of Cormint. "Their deep expertise in technology and their shared vision for the future of cryptocurrency mining make them an ideal partner for us. With this investment, we can accelerate our expansion plans and further solidify our position as one of the most competitive and sustainable Bitcoin mining operations in North America."