TMGcore Funding, Investors & Competitors

TMGcore has raised $130M across 3 funding rounds, most recently a $10M Series A in January 2022.

Last TMGcore funding round

$10M

Series A · Jan 2022

Cumulative funding TMGcore raised

$130M

across 3 funding rounds

TMGcore Overview

About TMGcore

TMGcore is a Plano, Texas-based developer of liquid-cooled infrastructure for high-performance computing and blockchain data centers. The company deploys direct-to-chip cooling systems that reduce power usage by 40 percent for GPU clusters in cryptocurrency mining and AI training. Founded in 2018, TMGcore partners with Dell and Supermicro for rack-scale solutions serving operators in North America and Europe.


Founded

2018

HQ

United StatesDallas, TX

Status

Privately held

Customer focus

B2B

Revenue model

Product sales, Services

TMGcore Funding History

TMGcore has raised a total of $130M across 3 funding rounds.

TMGcore's first fundraising round was a $60M Series A in April 2018. The most recent completed round was a $10M Series A in January 2022.

TMGcore funding rounds

TMGcore funding rounds
DateStageRaisedDeal Summary
Jan 2022Series A$10MTMGcore, a Plano-based company founded in 2018, raised $10M in a funding round in January 2022. The company provides high-performance computing solutions and manufactures commercial-grade hardware specializing in liquid immersion cooling technology. This technology supports blockchain stability, growth, and long-term sustainability.
Mar 2021Undisclosed stage$60MTMGcore, founded in 2018 and based in Plano, Texas, develops high-performance computing solutions with liquid immersion cooling technology for blockchain and other applications.
Apr 2018Series A$60MTMGcore is a Plano, Texas-based company founded in 2018 that provides high-performance computing solutions using two-phase immersion cooling technology, enabling higher densities, better efficiencies, and support for applications like blockchain. TMGcore acquired a $60 million, 150,000-square-foot data center in Plano, Dallas, to support its mining and computing operations.

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TMGcore Competitors

TMGcore competitors include listed companies like Block, Coinbase and Circle, and private ones like Ripple, OKX and Kraken.

Public and private companies comparable to TMGcore
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
RippleUnited StatesSan Francisco, CAPrivate$1.2B-$50B-
BlockUnited StatesUnited StatesPublicly listed$24B$2.2B$46B1.6x
CoinbaseUnited StatesUnited StatesPublicly listed$7.2B$1.8B$46B7.6x
OKXSeychellesVictoriaPrivate$1.9B-$25B13.2x
CircleUnited StatesUnited StatesPublicly listed$2.7B($73M)$22B6.8x
KrakenUnited StatesSan Francisco, CAPrivate$2.2B$531M$21B9.5x

TMGcore Public Comps

TMGcore is still privately-owned, but its public comps include Strategy, Block, Coinbase, Circle, BitMine, Bullish, Galaxy Digital, Hyperliquid Strategies, Sharplink and Securitize.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Strategy$477M($5.4B)149.4x144.4x(13.1x)(12.3x)
Block$24B$2.2B1.7x1.6x18.6x9.4x
Coinbase$7.2B$1.8B6.1x7.6x24.2x27.2x
Circle$2.7B($73M)7.2x6.8x(273.4x)29.6x
BitMine$6M($364M)2308.9x97.4x(38.6x)-
Bullish$245B($727M)0.0x13.5x(6.3x)38.2x
Galaxy Digital$60B($177M)0.1x0.2x(43.3x)(182.6x)
Hyperliquid Strategies$9M-308.0x162.2x--

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Common questions about TMGcore

When was TMGcore founded?TMGcore was founded in 2018.
Where is TMGcore headquartered?TMGcore is headquartered in Dallas, TX, United States.
Is TMGcore publicly listed?No, TMGcore is a private company.
How much funding has TMGcore raised?TMGcore has raised $130M across 3 funding rounds.
What was TMGcore's last funding round?TMGcore's last funding round was a $10M Series A in January 2022.
Which companies are comparable to TMGcore?Companies comparable to TMGcore include Ripple, Block, Coinbase, OKX, Circle and Kraken.

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