Immersion Cooling Innovator LiquidStack Enters Market with $10M in Series A Funding from Strategic Partner Wiwynn

Incubated by Blockchain technology leader Bitfury, LiquidStack is transforming cooling for data centers, edge and high-performance computing

BOSTON, March 25, 2021 (GLOBE NEWSWIRE) — LiquidStack, the world’s largest liquid cooling company, today announced its launch from stealth mode with new deployments across vital sectors such as high-performance computing (HPC), cloud services, artificial intelligence (AI), edge and telecommunications, backed by its first round of funding and a strong, experienced leadership team.

Building on over eight years of data center cooling innovation, LiquidStack is born from The Bitfury Group’s liquid cooling subsidiary previously known as Allied Control Limited (ACL), having restructured as a new commercial operating company headquartered in the Netherlands, with its commercial headquarters in the USA and R&D located in Hong Kong. LiquidStack is also announcing a $10M Series A investment and strategic partnership with Wiwynn, an innovative cloud IT infrastructure provider of server and storage system design, manufacturing, and rack integration for data centers. Wiwynn has been working with leading cloud service providers, shipped systems to over three hundred data centers globally, and generated $6.3 billion in revenue in 2020.

Leveraging Wiwynn’s deep industry expertise in bringing innovative IT solutions to market, the partnership will enable the synergistic advancement of next generation IT infrastructure designed for 2-phase immersion cooling and amplification of mutualized global supply chain capability and services. As a result, IT systems will be optimized for the highest levels of efficiency, performance, compaction, sustainability and reduction of water used for data center cooling. Individually, the companies are also collaborating to support the Open Compute Project (OCP) and other common standards bodies for the betterment of the cloud, hyperscale, edge and high-performance computing community.

The rise of AI, Big Data, edge computing and advanced analytics is calling for a new, transformational method of cooling; traditional methods, such as mechanical or air cooling cannot keep up with the demands of today’s new high-flux chips. LiquidStack’s 2-phase immersion liquid cooling is the only proven, environmentally safe and sustainable solution which has already been deployed at scale to meet this growing thermal challenge. LiquidStack’s technology enables at least 21 times more heat rejection per IT rack compared to air cooling, with no water consumed for outside heat rejection. This cooling method results in a 41 percent reduction in energy used for cooling and up to 60 percent reduction in whitespace used for compute infrastructure.

“Bitfury has always been focused on leading by example and is a technology driven company from the top of the organization, to its grass roots,” said Joe Capes, co-founder and CEO of LiquidStack. “After incubating Allied Control for the last five years, we were able to build multiple hyperscale Bitcoin mining sites using LiquidStack immersion cooling while growing a strong intellectual property portfolio. In 2020, we pivoted to gain market traction within the semiconductor, IT hardware, data center and telecoms segments. Launching LiquidStack with new funding enables us to focus on our strengths and capabilities, accelerating the development of liquid cooling technology, products and services to help solve real thermal and sustainability challenges driven by the adoption of cloud services, AI, edge and high-performance computing.”

“Bitfury has been innovating across multiple industries and sees major growth opportunities with LiquidStack’s game-changing cooling solutions for compute-intensive applications and infrastructure,” said Valery Vavilov, CEO of Bitfury. “I believe LiquidStack’s leadership team, together with our customers and strategic support from Wiwynn, will rapidly accelerate the global adoption and deployment of 2-phase immersion cooling.”

“Wiwynn continues to invest in advanced cooling solutions to address the challenges of fast-growing power consumption and density for cloud computing, AI, and HPC,” said Emily Hong, CEO of Wiwynn. “We are excited to support and partner with LiquidStack, the leader in two-phase immersion cooling. We foresee the technology widely adopted in data centers with its unmatched performance, reliability, and environmental benefits.”

In 2014, LiquidStack (then known as Allied Control) built the most efficient data center in the world using 2-phase immersion cooling. This 500kW data center, located in the hot and humid climate of Hong Kong, saved more than 95% on cooling energy consumption compared to air cooling. After ACL’s acquisition by Bitfury in 2015, the companies jointly deployed over 160MW of 2-phase immersion cooled data centers, including DataTank™ units operating at densities of up to 252kW per 48U rack. In addition to providing an order of magnitude reduction of energy and water use, LiquidStack’s solutions drastically lower environmental waste and ecological impact, direct and indirect carbon footprint and operate in near silence.

About LiquidStack
LiquidStack has the world’s largest footprint of liquid cooling for data center, edge and high-performance computing. LiquidStack’s 2-phase immersion liquid cooling is the only proven, highly scalable, environmentally safe and sustainable solution to meet the growing thermal challenges of cloud, enterprise, 5G and edge computing applications. Since pioneering 2-phase immersion cooling in 2012, LiquidStack has been deploying advanced cooling solutions across the world’s most demanding compute environments, actively reducing energy and water use dependencies on a massive scale. Today, LiquidStack provides thermal management solutions to many of the world’s largest cloud services, semiconductor, manufacturing and IT hardware providers. To learn more, please visit www.liquidstack.com.

About The Bitfury Group
The Bitfury Group is the world’s leading full-service blockchain technology company. Bitfury™ is building solutions for the future, with the most significant technologies of the millennium. Our mission is to make the world more transparent and trusted by innovating at every level of technology – hardware, security, and software – to put trust back into the equation. Founded in 2011, Bitfury is the leading security and infrastructure provider for the Bitcoin Blockchain. In addition to securing the Bitcoin Blockchain, Bitfury also designs and produces innovative hardware that keeps cryptocurrencies and blockchains secure, including custom semiconductor chips and mobile data centers. Bitfury is also a software provider for some of the world’s cutting-edge applications through its Exonum™ private blockchain framework, its Crystal™ Blockchain advanced analytics platform. To learn more, visit www.bitfury.com.

About Wiwynn
Wiwynn is an innovative cloud IT infrastructure provider of high quality computing and storage products, plus rack solutions for leading data centers. We aggressively invest in next generation technologies for workload optimization and best TCO (Total Cost of Ownership). As an OCP (Open Compute Project) solution provider and platinum member, Wiwynn actively participates in advanced computing and storage system designs while constantly implementing the benefits of OCP into traditional data centers. For more information, please visit Wiwynn website, newsroom or contact [email protected].

Media Contact:
Kelsey Dielman
Scratch Marketing + Media for LiquidStack
[email protected]