Riot Blockchain Announces it’s Expanding its Mining Capacity by 1 GW

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Crypto mining company Riot Blockchain, which is listed on the Nasdaq, has just announced that it plans to build a 1 GW Bitcoin mining facility in Navarro County, Texas.

As reported, the company has already started the implementation of the first stage. As part of it, the company will build a facility with a capacity of 400 MW on a site of more than 107 hectares. The devices installed in this location, which will have immersion cooling, will start operating in July 2023.

The first phase includes the purchase of land and site preparation, the construction of a substation and power lines as well as the construction of auxiliary facilities and four buildings for the mining infrastructure.

According to Riot, the cost of this phase will be $333 million. In the future, the capacity of the facility will be increased by 600 MW.

Riot CEO Jason Les has commented:

“Upon completion of the expansion, the installed capacity will reach 1,700 MW, making the company one of the largest in the Bitcoin mining business in the world.”