Riot Blockchain (RIOT), one of the largest publicly traded bitcoin (BTC) mining companies, looks to extend its footprint with a large-scale, 1 gigawatt (GW) development in Navarro County, Texas. Riot’s Mining Facility Will be Developed in Phases 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 estimates the total cost of the first phase of the expansion will be about $333 million which will be incrementally invested over the remainder of 2022, 2023 and the first quarter of 2024. After the first phase is completed, it will be then increased by an additional 600 MW totalling to 1000MW through a switchgear located 1,250 feet away from the facility. Partnership With Priority Power Riot will partner with bitcoin mining energy services company, Priority Power, for site development management, utility interconnection, power purchase agreements and power load flexibility. Priority Power is a leading service provider in the bitcoin mining space which began working with Riot during the development of Riot’s Whinstone location in Rockdale, Texas. Riot concludes that the first phase of the expansion is expected to create around 270 direct jobs and boost economic growth into Navarro County, Tex...
