Bitcoin mining startup Cormint Data Systems has raised $30 million as part of a Series A round led by its president. The money will be used to build a Fort Stockton data center that can handle 2.4 exahash/second computing power.

Nav Sooch, Chairman of Silicon Laboratories and Jamie McAvity, President of Cormint led the round. Alessandro Piovoccari, the former Chief Technology officer of the chip company, joined existing investors in Series A.

The new capital is in addition to the 400 BTC (10,8 million dollars) raised by promissory note at the end of 2022.

The mining industry is beginning to emerge after a long crypto winter, which saw many high-profile defaults and bankruptcies.

Cormint intends to have the self-mining computing capacity of 2.4 EH/s up and running at the Fort Stockton location by the end 2024.

Read more: Bitcoin Mining Earnings: Marathon shares underperform after new SEC subpoena

Stephen Alpher edited the book.