Cryptocurrency miners have tried just about everything to keep their super-fast machines cool. They’ve moved them to Siberia and submerged them in vats of oil. One startup buried its mining rigs in a chilly Soviet-era bunker beneath the Eurasian steppe.

But even by crypto industry standards, the 40 megawatt plant Bitfury built in Georgia’s capital of Tbilisi is exotic. It submerges the computers in a non-conductive liquid to keep them chilled as they make millions of calculations a second. Bitfury said in February that it sold the plant to a Hong Kong-listed fintech company backed by a Chinese shadow banker in a deal that was conceived on Richard Branson’s private Caribbean resort, then bought it back at a discount.

Crypto markets have cratered this year, but there’s still a race to get the last of the 21 million mineable Bitcoins. It’s a high-stakes, fast-moving contest that’s already created a couple of billionaires, led to a flurry of crypto-miner initial public offering bids, and spawned a land rush for sites to house the energy-sucking supercomputers and their cooling systems.