Riot Blockchain Is Constructing a 1 GW Bitcoin Mining Facility in Navarro County, Texas – Mining Bitcoin News

Riot Blockchain, a publicly traded bitcoin miner has revealed that it has begun development of a 1 gigawatt (1GW) bitcoin mining plant in Navarro County Texas. On the site, which covers 265 acres, the company has begun development on 400 megawatts of capacity. The team plans to be able to offer hosting and bitcoin mining services online next year.

Riot Is Developing a 1 GW Bitcoin Mining Data Center — Company Plans for 400 MW of Capacity to Be Online by July 2023

Riot Blockchain, NASDAQ: RIOT, is expanding its Texas operations. The company is currently developing a 1 GW coal mine in Navarro County. According to Riot, the first phase has begun, which includes “land acquisition, site preparation, substation development, and transmission construction.”

Furthermore, Riot is constructing a few buildings that will house the firm’s immersion-cooling infrastructure and technology. Riot estimates that the initial phase of expansion will cost $333 million.

Bitcoin mining in Texas has grown a great deal over the last few years and in 2021, the mining firm Blockcap set up the company’s headquarters in Austin and Former Texas governor Rick Perry welcomed the mining team. Many other Bitcoin mining companies have also been moving to the Lone Star State in recent months.

Blockcap’s announcement was made in April 2021. Riot also announced that it had purchased a Rockdale mining site for $650m. Riot’s latest move in Navarro County will start with 400 MW and the firm hopes to offer bitcoin mining and hosting capabilities by July 2023.

“After completing the first 400 MW phase of the Expansion, future capacity at the site will be expandable by an additional 600 MW to 1,000 MW, or 1 GW, via the 345 kV Navarro switch that is located approximately 1,250 feet away from the site,” Riot’s announcement notes.

Riot CEO: ‘Upon Completion of Expansion, Riot’s Developed Capacity Will Total 1.7 GW’

Jason Les (CEO of Riot) believes that Riot will soon be among the top bitcoin mining firms in the globe after its expansion. “Upon completion of the expansion, Riot’s developed capacity will total 1.7 GW, establishing the company among the largest bitcoin mining operations globally,” the Riot executive said in a statement.

Furthermore, the company will be leveraging a “strategic partnership with Priority Power Inc.” in order to bolster the expansion. The company will help with “site development, utility interconnection, power purchase agreements, and power load flexibility.”

According to Riot, the firm already has a strong relationship with Priority Power as the firm was a “key partner” in the development of Riot’s Whinstone US data center in Rockdale, Texas.

Riot Blockchain expands operations in Navarro County Texas to build a 1 GW miner center. What are your thoughts? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman is the News Lead for Bitcoin.com News. He also lives in Florida and works as a journalist covering financial technology. Redman joined the cryptocurrency community in 2011 and has been an active member ever since. Redman is passionate about Bitcoin and open-source codes. Redman is a prolific writer for Bitcoin.com News, with over 5,000 articles on disruptive protocols.