2 years ago
Quick take:
- Riot Blockchain has announced that it plans to make a 1 GigaWatt Bitcoin mining installation successful Navarro County, Texas
- The installation is portion of its Bitcoin mining and hosting enlargement plans, aptly named ‘The Expansion’
- The Expansion volition commencement with an archetypal 400 MegaWatt installation connected a 265-acre tract and is expected to commence successful July 2023
- The further 600 MegaWatt volition beryllium added successful the aboriginal via the 345 kV Navarro switch
The publically traded Bitcoin mining and hosting services supplier of Riot Blockchain has announced plans to make a 1 GigaWatt (GW) BTC mining installation successful Navarro County, Texas. The 1 GW task aptly named ‘The Expansion’ volition supply Riot ‘with an industry-leading 1.7 GigaWatt of full improvement capacity.’
Jason Les, CEO of Riot Blockchain, said:
Upon completion of the Expansion, Riot’s developed capableness volition full 1.7 GW, establishing the Company among the largest Bitcoin mining operations globally.
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
The First Phase of the Bitcoin Mining Expansion to Start successful July 2023
The Expansion volition commencement with processing an archetypal 400 MegaWatt (MW) installation connected a 265-acre site. Work volition statesman successful July of 2023, and the installation volition see ‘immersion-cooled mining and hosting operations.’
The archetypal signifier volition see onshore acquisition, tract preparation, substation development, transmission enactment construction, and operation of ‘ancillary buildings and 4 buildings utilizing the Company’s immersion-cooling infrastructure and technology.’
Riot Blockchain provided a full outgo estimation of $333 cardinal for the archetypal phase, which is expected to beryllium invested implicit the remainder of 2022, 2023, and Q1 of 2024.
The institution volition spouse with Priority Power Inc. to enactment the Expansion. Priority Power and Riot Blockchain person had a long-standing concern narration that started astatine Riot’s Whinstone US installation successful Rockdale, Texas. The Expansion tract is roughing 2 hours from the latter, frankincense allowing Riot Blockchain and Priority Power to utilize their existing endowment pool.
The Capacity of the Bitcoin Mining Site to beryllium Expanded to 600 MW
Once signifier 1 of the Expansion is complete, the tract volition beryllium expanded by an further 600 MegaWatt to scope 1 GigaWatt. This volition beryllium done done the 345 kV Navarro Switch which is 1,250 feet from the site.
[Feature representation courtesy of Bloomberg]
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