Fabric Systems, a bitcoin mining hardware startup, has raised $13 million in a seed round fund.
The company has said that the funds will be used to fund the development of two core launch products, including a liquid immersion-cooled ASIC machine.
Fabric Systems claims these products will achieve an energy efficiency of 20 watts per terahash (watts/TH).
According to the company, their launch product, an immersion-cooling ASIC, is a type of machine which is submerged in liquid of a certain type instead of being cooled via air with traditional fans.
Although immersion-cooling ASIC machine types of cooling technology have been around for a long time, they have been used more recently in the crypto industry by companies like Argo and Riot at a large scale in Texas.
These cooling machines guarantee to "outperform every existing bitcoin miner in today's existing marketplace" in terms of energy efficiency. They are also engineered to achieve an energy efficiency of 20 watts/TH.
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