Mining startup Fabric Systems was able to raise $13 million

According to the company, it plans to use the funds to finance the development of a liquid immersion-cooled miner.

The startup developers claim that the energy efficiency of the launched products will be as high as 20 W/Th.

Fabric Systems explained that the immersion-cooled asic they are launching involves immersion in a special type of liquid without using the usual fans. Similar technologies already work, but they have become popular lately. Argo and Riot particularly are using them.

Representatives of Fabric Systems say that their cooling hardware is more energy efficient than any other on the market today. They plan to launch next year and be able to deliver to customers by the third quarter.

Companies that took part in the funding round include TeraWulf, Metaplanet, and Blockchain.com.