Riot Blockchain Announces Plans for a 1 GigaWatt Bitcoin Mining Farm in Texas

Fast take:

• Riot Blockchain has introduced that it plans to develop a 1 GigaWatt Bitcoin mining facility in Navarro County, Texas
• The ability is a part of its Bitcoin mining and internet hosting enlargement plans, aptly named ‘The Growth’
• The Growth will begin with an preliminary 400 MegaWatt facility on a 265-acre web site and is predicted to begin in July 2023
• The extra 600 MegaWatt might be added sooner or later through the 345 kV Navarro change

The publicly traded Bitcoin mining and internet hosting providers supplier of Riot Blockchain has announced plans to develop a 1 GigaWatt (GW) BTC mining facility in Navarro County, Texas. The 1 GW challenge aptly named ‘The Growth’ will present Riot ‘with an industry-leading 1.7 GigaWatt of whole growth capability.’

Jason Les, CEO of Riot Blockchain, mentioned:

Upon completion of the Growth, Riot’s developed capability will whole 1.7 GW, establishing the Firm among the many largest Bitcoin mining operations globally.

This Growth is a testomony to the Firm’s demonstrated skill to construct and ship high-quality large-scale digital asset infrastructure for its Bitcoin mining operations and future hosted purchasers

The First Part of the Bitcoin Mining Growth to Begin in July 2023

The Growth will begin with growing an preliminary 400 MegaWatt (MW) facility on a 265-acre web site. Work will start in July of 2023, and the power will embrace ‘immersion-cooled mining and internet hosting operations.’

The primary section will embrace land acquisition, web site preparation, substation growth, transmission line development, and development of ‘ancillary buildings and 4 buildings using the Firm’s immersion-cooling infrastructure and know-how.’

Riot Blockchain supplied a complete value estimate of $333 million for the primary section, which is predicted to be invested over the remainder of 2022, 2023, and Q1 of 2024.

The corporate will associate with Precedence Energy Inc. to help the Growth. Precedence Energy and Riot Blockchain have had a long-standing enterprise relationship that began at Riot’s Whinstone US facility in Rockdale, Texas. The Growth web site is roughing two hours from the latter, thus permitting Riot Blockchain and Precedence Energy to make the most of their present expertise pool.

The Capability of the Bitcoin Mining Website to be Expanded to 600 MW

As soon as section one of many Growth is full, the location might be expanded by a further 600 MegaWatt to achieve 1 GigaWatt. This might be performed by the 345 kV Navarro Change which is 1,250 ft from the location.

[Feature image courtesy of Bloomberg]