What Midas Immersion Cooling does

Midas Immersion Cooling (legally MIDAS GREEN TECHNOLOGY) is a privately held Austin, Texas-based designer and manufacturer of single-phase immersion cooling infrastructure, founded in 2010 when the company built the world's first commercial immersion-cooled data center. The company's flagship MIDAS XCI System submerges servers in dielectric (non-conductive) fluid, with heated fluid circulated via pumps to hot-swappable cooling modules that dissipate heat at claimed efficiency levels over 1,200 times greater than air, supporting PUE as low as 1.05. The product portfolio spans compact 4U edge tanks (7.5 kW) through 50U enterprise tanks (150 kW), ASICE 2.0 tanks purpose-built for ASIC mining, containerized 1.5 MW mobile data centers, and the ruggedized MMXCI line for U.S. government and maritime deployments.

Midas generates revenue primarily through direct sales of capital equipment — XCI tanks, cooling modules, and containerized systems — to enterprise data center operators, HPC facilities, AI infrastructure providers, cryptocurrency miners, and federal/military agencies. Pricing is quote-based and not publicly disclosed; deals include professional services for deployment and integration. The company also licenses its patented technology internationally (US patents US 10405457 and US 10820446 plus multiple international filings). With 11-50 employees, manufacturing in Austin (130 CDUs/week, ~10 MW weekly capacity), and 250-450 MW of cumulative deployed capacity across 4,000+ units globally, Midas sells exclusively through direct enterprise sales with long, consultative cycles and a dedicated federal business development function. Named customers include Riot Platforms (200 MW initial order, up to 400 MW option) and Durham University (via Vespertec).

Name

Midas Immersion Cooling

Legal name

MIDAS GREEN TECHNOLOGY

Website

https://midasimmersion.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Midas Immersion Cooling designs and manufactures single-phase immersion cooling tanks (4U to 50U), containerized data centers, and ruggedized government systems for enterprise data centers, HPC/AI facilities, cryptocurrency miners, and U.S. defense customers, selling direct capital equipment and licensing patented technology globally.

Ownership category

akta.pro rank

Product category

Data Center Immersion Cooling Systems

NAICS

Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Power Boiler and Heat Exchanger Manufacturing (33241), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Heating Equipment, Except Electric & Warm Air Furnaces (3433)

akta.pro primary industry

AI Datacenter Power, Cooling & Racks (liquid cooling, power delivery) (HDAAAAAH)

akta.pro secondary industries

Cooling Systems & Thermal Management (CRAC/CRAH, Chillers, Liquid Cooling) (HDABAKAD), Heat Rejection & Mechanical Plant (Cooling Towers, Pumps, Condensers) (HDABAKAE), Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC), Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC)

Keywords

• Immersion cooling systems
• Data center cooling
• HPC cooling solutions
• Liquid cooling technology
• ASIC mining cooling

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Immersion Cooling Hardware Sales: Sale of MIDAS XCI immersion cooling tanks and systems (4U, 12U, 25U, 50U, ASIC, and Container configurations) along with cooling modules and peripheral equipment. Tanks are sold as capital equipment to data center operators, mining companies, and government entities. Includes spare cooling modules (XCM4, XCM4-C) sold as replacement parts.
2. Technology Licensing and Patents: Midas licenses its patented immersion cooling technology internationally. The company holds US patents (US 10405457, US 10820446) and international patents covering various XCI system configurations. Licensing may cover tank designs, cooling module technology, and containerized data center systems.
3. Government and Defense Contracts: Specialized immersion cooling solutions for government and military applications (MIDAS Government Immersion Systems / MMXCI), including shipboard and shore-based HPC and AI deployments. The company holds federal certifications (CAGE/NCAGE: 9TW28, UEI: WGTBFDSL1VC4) and TAA compliance for government procurement.
4. Professional Services and Deployment Support: Deployment and integration services for large-scale data center installations, including site assessment, system configuration, installation, and commissioning. The company's extensive deployment experience (250+ MW) supports professional services engagements.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

Midas Immersion Cooling designs, manufactures, and sells single-phase immersion cooling tanks and systems that submerge server hardware in dielectric (non-conductive) fluid to remove heat from high-density computing equipment. The product lineup spans compact 4U Mini Tanks (7.5 kW), 12U, 25U, and 50U enterprise tanks (up to 150 kW), ASICE 2.0 tanks optimized for ASIC mining, containerized turnkey data centers (up to 1.5 MW), and ruggedized MMXCI government immersion systems. Heat is transferred from the dielectric fluid via circulating pumps to cooling modules with hot-swap capability and redundant configurations (N, N+1, 2N, 2N+1).

Product overview

Midas Immersion Cooling offers a comprehensive portfolio of single-phase immersion cooling solutions centered on the proprietary MIDAS XCI System. The product lineup includes tank-based systems ranging from compact 4U Mini Tanks (7.5 kW) to high-capacity 50U tanks (150 kW), specialized ASICE 2.0 tanks for ASIC mining operations, and containerized mobile data centers delivering up to 1.5 MW. All products use dielectric fluid immersion cooling technology where servers are submerged in non-conductive liquid, with heat transferred to cooling modules for dissipation. The 50U tank serves as the flagship enterprise product with redundant hot-swappable cooling modules and DCIM integration, while government/military deployments are handled through the dedicated MMXCI line featuring enhanced ruggedization.

Differentiator

Problem solved

Functional benefit

Products and services

• MIDAS XCI System Flagship single-phase immersion cooling equipment solution that submerges electronic components in dielectric fluid to remove heat. Reduces total power consumption by more than 40%, capital expense by more than 50%, and creates space savings of over 60% compared to traditional air cooling. Each tank can be configured to cool up to 150 kW of compute power with redundant hot-swappable cooling modules.
• 4U MIDAS XCI Mini Tank Compact all-in-one immersion cooling tank that dissipates up to 7.5 kW of heat, designed to fit in space-constrained locations including secure outdoor sites. Features patented technology, modular design for quick deployment, and eliminates fan failures, noise, and corrosion.
• 12U MIDAS XCI Mini Tank Portable immersion cooling tank providing up to 18 kW of heat dissipation, designed for edge deployments, IoT, data closets, POC and testing environments. Features plug-and-play capabilities and can be remotely deployed in branch offices or high-risk zones. Available with patented air cooling module (XCI4S-A-12) or water cooling module (XCI4S-W-12) configurations.
• 25U MIDAS XCI Tank Mid-sized immersion cooling tank handling up to 40 kW heat loads, designed as the ideal step for scaling operations. Suitable for growing enterprises, HPC clusters, or regional data centers demanding energy efficiency.
• 50U MIDAS XCI Tank High-capacity immersion cooling tank dissipating up to 150 kW per tank with N, N+1, 2N, and 2N+1 configurations. Features fully redundant hot-swappable cooling modules that can be replaced in under 10 minutes without tools, and integrates with DCIM software for operations management. Available with single (XCIT4-50SM) or redundant (XCIT4-50RM, XCIT5-50RM) water cooling modules.
• ASICE 2.0 Tank Immersion cooling tank specially engineered for ASIC mining operations with 150 kW cooling capacity per tank. Features dual-loop system for optimal scalability, customizable configurations and sensor packages, and is optimized for large-scale mining deployments with lower total cost of ownership.
• Containerized Data Center Mobile, turnkey immersion cooling data center housed in ISO container format, delivering up to 1.5 MW per container. Provides rapid deployment with modular design for computing, power, cooling, and mobility customization, ideal for remote and disaster recovery deployments. Available in multiple patented models (MXCI-480-0400-04-A-D, MXCI-480-0600-06-A-D, MXCI-480-1000-08-A-D, MXCI-415-0400-06-A-D, MXCI-415-0600-10-A-D, MXCI-415-1000-10-A-D).
• MMXCI Government Immersion Systems Military-grade immersion cooling solution for shipboard and shore HPC and AI applications. Features sealed environmental isolation, patented anti-slushing technology for maritime operations, and ruggedized chassis for extreme environments. TAA compliant with CAGE code 9TW28 and UEI: WGTBFDSL1VC4.

Quantifiable outcome

• 40% reduction in total power consumption vs. traditional air cooling
• +6 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature6 records

Partnerships

Six partnerships are on record, tiered core and moderate.

• MotulcoreTechnology or Integration · 19 November 2025Midas partnered with Motul to validate the use of Motul's dielectric immersion fluid EGEN DCC 100R8 in Midas XCI immersion cooling systems. The joint testing program demonstrated improved cooling performance, higher rack densities, lower energy consumption, and reduced environmental impact when using Motul's dielectric fluid.
• HyperteccoreTechnology or Integration · 19 November 2025Midas partnered with Hypertec to validate the use of Motul's dielectric immersion fluid EGEN DCC 100R8 in Hypertec's AI and HPC servers within Midas immersion cooling tanks. The collaboration aims to advance sustainable, scalable immersion cooling solutions for data centers supporting AI infrastructure.
• Vespertec (Vesper Technologies)coreImplementation/ SI/ Consulting Partner · 9 September 2025Vespertec collaborated with Midas to deploy a 50U XCI immersion cooling solution at Durham University. Vespertec acted as the data centre infrastructure specialist deploying Midas technology into a fully-operational research-grade HPC platform. This represents a co-deployment partnership for the academic/research market segment.
• Dell TechnologiesmoderateTechnology or IntegrationDell is listed as a partner and major OEM vendor offering support for immersion cooling. Dell PowerEdge servers have been tested in Midas tanks with documented efficiency improvements (up to 62% less power consumption and up to 19 degrees cooler when running in immersion vs. air cooling).
• LenovomoderateTechnology or IntegrationLenovo is listed as a partner and OEM vendor supporting immersion cooling. Partnership involves server compatibility with Midas XCI immersion tanks.
• Supermicro (Super Micro Computer)moderateTechnology or IntegrationReferenced as a major OEM vendor offering support for immersion cooling alongside Dell and Lenovo, indicating compatibility and partnership relationship for server integration with Midas tanks.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Submer: Direct competitor offering single-phase and two-phase immersion cooling tanks for hyperscale, HPC, and enterprise data centers. Closely aligned product category, target customers (data center operators, HPC facilities), and direct-to-enterprise sales motion make Submer the most head-to-head comparable.
• Green Revolution Cooling (GRC): Direct immersion cooling competitor offering single-phase immersion solutions for HPC, AI, and enterprise data centers. Closely comparable in technology (single-phase dielectric immersion) and customer base (HPC and large data center operators).
• Asperitas: Direct immersion cooling competitor (Immersed Computing) targeting enterprise, colocation, and HPC customers with similar single-phase immersion tank offerings. Comparable in product architecture and target segments (enterprise data centers, sustainable computing initiatives).
• Iceotope: Direct competitor offering precision liquid cooling (KUL RANCOOL) for HPC, AI, and edge data centers. Comparable in target customers (AI/HPC operators, edge deployments) and overlap in the liquid-cooled data center category, though Iceotope emphasizes chassis-level rather than full-tank immersion.

Broad incumbents

• Vertiv: Large public data center infrastructure incumbent offering broad cooling portfolios (including liquid cooling solutions) alongside power, IT management, and services. Comparable as a competing data center cooling provider but with vastly larger scale, broader product portfolio, and global service footprint.
• Schneider Electric: Global infrastructure incumbent with broad data center cooling, power, and management offerings including recent liquid cooling investments. Comparable in the broader data center cooling category but operating at vastly greater scale across multiple product categories.
• Rittal: Global enclosure and data center cooling provider offering IT cooling solutions (including liquid cooling) for industrial and IT applications. Comparable in data center cooling and enclosure form factor but as a broad incumbent with much wider product portfolio.

Emerging players

• ZutaCore: Emerging player offering two-phase immersion cooling with a focus on high-density compute. Partial overlap with Midas' immersion cooling category but differentiated by two-phase versus Midas' single-phase approach; comparable in HPC and AI target customers.
• LiquidCool Solutions: Emerging immersion cooling vendor targeting HPC and edge customers with single-phase immersion solutions. Comparable in target use cases (HPC, AI, edge) and product architecture, though typically positioned at smaller scale than Midas' enterprise deployments.

Others

• Boyd (Boyd Corporation): Thermal management solutions provider with adjacent liquid cooling capabilities for data center and high-performance computing applications. Comparable in thermal management and liquid cooling technology but serves a broader industrial customer base beyond pure immersion.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UChWyB7lad-CAwnEe9EU7qUw
• LinkedInlinkedin.com/company/midas-immersion
• Xx.com/MidasGreen
• Facebookfacebook.com/MIDASimmersion

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Midas Immersion Cooling