Riot Blockchain (RIOT), one of the largest publicly traded bitcoin (BTC) mining businesses, plans to expand its footprint in Navarro County, Texas, with a large-scale, 1 gigawatt (GW) development.
The Riot Blockchain Mining Facility will be built in stages
According to an official announcement, the mining facility expansion will take place in phases with an initial 400 megawatt (MW) of capacity being developed with immersion-cooled computers on 265 acres of land. The mining and hosting services are expected to be fully operational in July 2023.
Riot anticipates a total cost of $333 million for the first phase of the expansion, which will be spread out over the remainder of 2022, 2023, and the first quarter of 2024.
Following the completion of the first phase, the capacity will be raised by 600 MW, bringing the overall capacity to 1000 MW, via a switchgear positioned 1,250 feet away from the facility.
Priority Power collaboration
For site development management, utility interconnection, power purchase agreements, and power load flexibility, Riot will work with bitcoin mining energy services business Priority Power. Priority Power is a renowned bitcoin mining service provider that began collaborating with Riot during the construction of Riot’s Whinstone facility in Rockdale, Texas.
According to Riot, the initial phase of the development is expected to generate roughly 270 direct jobs and help Navarro County’s economic growth.
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