Head of Layer1 Technologies – Alex Liegl – has reportedly shared his belief that Texas is an ideal mining region, equipping miners with the “cheapest power in the world, at scale.”

Specifically, Layer1 Technologies, a Bitcoin (BTC) mining firm from the US, which has disclosed its initiative for achieving 30% of Bitcoin’s hash power repatriation by 2020, has officially started its mining work at a facility located in the Western region of Texas, making numerous 2.5-megawatt container rigs normally functional. 

Texas, despite ranking #1 across the US in the list of wind power producing state, and 5th across the globe, has not been chosen as a suitable mining locations by miners, mainly due to the heat problem in the area, with temperature shooting pass 90 degrees throughout 6 months yearly. 

To resolve this issue, Layer1’s mining apparatus is structured with 20-by-8 shipping containers, with a non-conductive liquid acting as suspension substance for its miners. 

“If they were air-cooled, the processors would burn up,” Liegl revealed. 

In October last year, Layer1 has secured $50 million to financially support its venture capital investors, led by Peter Thiel, together with Digital Currency Group and Shasta Ventures. 

The fund has allowed Layer1 to acquire an electric substation, located on 30 acres in western Texas, with the power to produce up to 100 megawatts. This acquisition has helped the firm’s value shoot up to $200 million.