Techniques for approximately contracting tensor networks are limited in how efficiently they can make use of parallel computing resources. In this work we demonstrate and characterize a Monte Carlo approach to the tensor network renormalization group method which can be used straightforwardly on modern computing architectures. We demonstrate the efficiency of the technique and show that Monte Carlo tensor network renormalization provides an attractive path to improving the accuracy of a wide class of challenging computations while also providing useful estimates of uncertainty and a statistical guarantee of unbiased results.
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