Spend less on hardware and get more out of each machine. That was the case Daniel Wong of EDGE Data Solutions made for immersion cooling during a session recorded at Mining Disrupt Miami on July 26–28, 2022. His presentation was less a technical manual and more a financial case study, arguing that the most profitable way to mine Bitcoin was to overclock fewer machines in liquid rather than buy more of them.
When Wong spoke, the price of Bitcoin was $21,268. Today, the price stands at $82,952. The site challenges he described in 2022, from grid stability and challenging climates to community acceptance and the cost of producing a coin, are the same ones operators still weigh when they choose how to cool a fleet.
The Case for Buying Less Hardware
Wong opened his presentation by reframing the primary metric of mining success. For many operators, the focus is on maximizing hash rate per megawatt, but Wong argued that the true question is about cost efficiency per unit of production. He urged the audience to look beyond the raw power draw and consider the total economic impact of their infrastructure choices. His pitch was built on the premise that immersion cooling allows for aggressive overclocking of mining hardware, which in turn reduces the number of physical machines required to hit a specific hash rate target.
what's my cost to mine a bitcoin what's my cost of mine that particular coin
Daniel Wong · 2:41
This shift in perspective was central to his narrative. By focusing on the cost per coin, Wong highlighted that the capital expenditure (capex) required to purchase hardware is a major determinant of profitability. If a miner can achieve the same hash rate with fewer machines by overclocking them, the initial outlay for hardware drops significantly. This reduction in hardware count also has downstream effects on operational complexity, maintenance schedules, and the physical footprint of the mining facility. Wong presented immersion not as a premium add-on, but as a lever that pulls down the entire cost structure of the operation.
Solving the Grid and Climate Problem
The context for this financial argument was the difficulty of securing good mining sites in North America. Wong said everyone wants the lowest power cost possible, but also reliable power that can run around the clock, pointing to what happened in Texas. He noted that people were looking at properties all over the United States and Canada, many of them in challenging climate areas, and listed time to deployment, cost of production, ESG and renewable goals, and community acceptance as the other hurdles operators face.
Wong described reliability as the first of five principles his team has seen behind successful operations, starting with the reliability of the people you work with. He said EDGE Data Solutions likes to partner with its clients and learn their specific needs rather than make them fit its model.
The 194-Kilowatt Tank and Single-Phase Logic
The technical heart of Wong's presentation was EDGE Data Solutions' new immersion tank, a 194 kilowatt single phase, dual loop design. Wong said the team had analyzed two phase immersion and acknowledged its benefits, but chose single phase as the better fit for how it planned to roll the tanks out. In the dual loop design, the fluid that holds the miners stays isolated in the tank, while a pump and heat exchanger at the bottom move the heat out to dry coolers or cooling towers.
the dual loop means that all the fluid is isolated in the tank we do not pump that around
Daniel Wong · 6:40
Wong drew a parallel between mining operations and traditional data centers, saying that whether the workload is enterprise or crypto, what is being built is a data center. The tank holds up to 33 S19 or S19 XP style miners, or 54 M30 miners. He said the team started overclocking S19s at the end of December, broke records doing it, and can run 5,780 watts per miner across 33 miners on a single smart PDU.
Reframing Resale Value for Immersion Miners
One of the persistent concerns among miners considering immersion is the resale value of their hardware. An audience member asked whether there was any data on how immersion cooled units resell compared with air cooled ones. Wong said he gets that question all the time, and pointed to the constant chip temperatures that immersion provides.
they haven't been getting beat up they've been immersion protected in that little fluid that's helping it out
Daniel Wong · 14:58
Wong said he did not have specific data on resale, but that the opinion of many people in the industry, his included, was that those miners would be worth more. He described preparing a unit for resale as easy: pull it out of the tank, put it through an ISO bath or ultrasonic cleaning, and reattach the fans.
The Total Solution: De-risking Through Partnership
Wong concluded by emphasizing the partner ecosystem behind EDGE Data Solutions, which he described as a total solution provider. He said the company had partnered with Raptor Power Systems on power and works with Kaboomracks on miner procurement and consulting. Having one group that understands the whole stack, from power down to the immersion system and the miners, is how he said operators de-risk their operation.
The financial math he presented was straightforward: reduce capex on miners by 20 to 50 percent because you are buying fewer of them, and reduce opex by about five to six percent by removing the fans and some of the HVAC overhead. In one example, he said the cost per terahash came down to 26 dollars, 37 percent less, saving 342 thousand dollars. The conversation about how to mine more profitably per megawatt continues, with new sessions on these topics expected at Mining Disrupt 2027, March 22 to 24 in Irving, Texas.