5 hours ago
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James McAvity, the CEO and co-founder of Texas-based Bitcoin mining company Cormint Inc., is making a bold claim: right now is the best time in five years to put money into Bitcoin mining. His reasoning centers on two converging factors, a decrease in network mining difficulty and a wave of ASIC mining hardware hitting the secondary market as operators offload equipment.
McAvity is pointing to exactly that dynamic. As struggling operations shed their ASIC hardware, two things happen simultaneously. Difficulty eases up for active miners, and the flood of secondhand equipment drives down the cost of acquiring new hashrate.
Cormint itself is positioned to capitalize. The company raised $29 million in Series B funding in July 2024, scaling its operations to 2 EH/s of mining capacity and 75 MW of managed power. The company has been targeting an all-in power cost of sub-1.9 cents per kilowatt-hour, a figure that would place it among the most cost-efficient operators in North America.
Cormint operates under the Electric Reliability Council of Texas, better known as ERCOT, the independent grid that serves most of the state. Bitcoin miners in Texas can participate in demand response programs, essentially getting paid to curtail their electricity usage during peak grid stress. Cormint has built its entire operational model around this interplay between mining and energy management.
McAvity himself has noted that transaction fees accounted for just 2% of overall Bitcoin mining revenue as of September 2025. When fees contribute that little, the math becomes brutally simple: your electricity cost is your destiny.
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