Bitcoin Miner Riot Blockchain Announces 1 Gigawatt Facility in Navarro County, Texas

• Riot Blockchain launches improvement of 1 GW installation successful Navarro County, Texas for bitcoin mining and hosting.
• The development’s archetypal signifier volition spot the installation with 400 MW of capableness and is expected to make 270 jobs successful the section economy.
• The installation volition beryllium immersion-cooled and is expected to beryllium operational by July 2023.

Riot Blockchain (Nasdaq: RIOT) is 1 of the largest North American bitcoin miners and looks to widen their footprint with a large-scale, 1 gigawatt (GW) improvement successful Navarro County, Texas, per a property merchandise sent to Bitcoin Magazine.

The enlargement volition fortify Riot’s bitcoin mining and hosting capableness opening with an further 400 megawatts (MW) of capableness connected a 265-acre tract that volition beryllium immersion cooled. Mining and hosting services are expected to beryllium operational travel July 2023.

“Upon completion of the expansion, Riot’s developed capableness volition full 1.7 GW, establishing the Company among the largest Bitcoin mining operations globally,” said Jason Les, CEO of Riot. “This Expansion is simply a testament to the Company’s demonstrated quality to physique and present high-quality large-scale integer plus infrastructure for its Bitcoin mining operations and aboriginal hosted clients.”

Riot’s estimated outgo for the archetypal signifier of the enlargement is $333 million, which volition beryllium incrementally invested done the remainder of 2022, 2023, and into the archetypal 4th of 2024. After the archetypal signifier is completed and the archetypal 400 MW enlargement is operational, the tract volition beryllium expandable by different 600 MW totalling 1000 MW ( 1 GW) acknowledgment to a 346 kV Navarro power located 1,250 feet from the facility. The power determination means a abbreviated easement is each that separates Riot from expanding its electrical output.

Priority Power Inc volition beryllium providing services to Riot done their on-going strategical concern specified arsenic managing tract development, inferior interconnection, powerfulness acquisition agreements and powerfulness load flexibility. Priority Power is simply a starring work supplier successful the bitcoin mining abstraction and began moving with Riot during the improvement of Riot’s Whinstone determination successful Rockdale, Texas which was announced May 26, 2021.

“A cardinal portion of Riot’s concern exemplary is to amplify the affirmative impacts that the Company’s concern exemplary has connected the section community. We look guardant to replicating the affirmative impacts that Riot has had connected the assemblage of Rockdale successful Milam County, successful Navarro County,” said Chad Harris, CEO of Whinstone, a fully-owned subsidiary of Riot.

Riot noted the decision of the archetypal signifier of the enlargement is expected to make astir 270 nonstop jobs and thrust important economical maturation into Navarro County, Texas.