EcoChain is a profitable subsidiary of Mechanical Technology Inc. (NASDAQ:MKTY)
In 2021, EcoChain will expand its floorspace, electrical capacity and computing horsepower.
Powering high-power computing
EcoChain builds and operates ultra-low-cost green data centers for cryptocurrency mining. These centers are
complex ecosystems of enterprise-grade equipment that require extensive electricity. EcoChain is leading
the charge to change to provide a reliable, greener alternative for crypto miners.
Standing out from the crowd
The crypto mining industry is facing several new challenges.
EcoChain stands out from the crowd, with solutions to the most common industry problems. The company’s
US-based centers offer extensive access to renewable energy, adequate rack space, service levels and 519
EcoChain’s sweet spot
EcoChain is ideally positioned to take advantage of China ‘unplugging’ from crypto mining, acquiring lightly
used mining equipment and finding new places to plug it in. CEO, Michael Toporek, recently signed a 25-year
lease on a US-based property that will initially deliver 12 megawatts of renewable energy. The company is
working to secure another 10 megawatts at a second property, and MTI unit is studying opportunities to bring
another 100 megawatts online. EcoChain forecasts that it will have 50 megawatts online by year’s end.
As MTl’s most profitable unit, EcoChain generated revenue of $1.7 million and contributed $1.3 million in
earnings in Q2 2021 – 41% more income than forecast.