Riot Blockchain Wants to Light 200,000 Homes in Corsicana, Texas

Colorado-based bitcoin mining company last April presentation They will expand to Corsicana, Texas, to have enough electricity to power up to 200,000 homes.

Riot Blockchain (RIOT), one of the largest Bitcoin (BTC) miners in the United States, has announced that it currently operates a 400 MW facility in Rockdale, Texas, and is developing a 265-acre site for digital cryptocurrency mining operations. It is scheduled to open in Corsicana in July 2023.

Illuminate the city of Corsicana

The company says it will eventually have enough power to light 200,000 homes, but the first phase of the facility will use about 400 MW of power, which will power about 80,000 Corsicana homes at “peak capacity”. enough power to supply it.

“When the expansion is complete, Riot’s development capacity will total 1.7 GW,” said Jason Les, Riot CEO. will be,” he said. “Riot’s ability to gain this significant expansion opportunity in Texas is the key to the company’s partnership-driven approach to committing to sustainable economic development with all stakeholders, including the company’s business partners, ERCOT and government at all levels. shows well.”

The company says the first 400 MW phase alone expects to bring about 270 jobs to the region. Currently, Riot Blockchain operates a mining facility about 50 miles northeast of Austin called Whinstone in Rockdale with a total power capacity of 750 MW. It is believed to be the single largest facility in North America dedicated to Bitcoin mining by capacity.

The City of Arlington’s Priority Power Management will manage site development for the mining facility, utility interconnection, power purchase agreements and power load flexibility.

According to Last Quarterly ReportRiot Blockchain posted revenue of $79.8 million in the quarter ended March, beating the consensus estimate of $83.7 million by analysts.

Fort Worth, America’s First Bitcoin Mining City

A day before the announcement of the Riot Blockchain, the city of Fort Worth, along with city council leaders, became the first city in the United States to mine Bitcoin. Unanimous approval of the pilot program Includes 3 S9 Bitcoin miners running 24/7/365.

“Fort Worth struggled to get out of the shadows of Dallas at times. We love our opponents on the east side of the Metroplex, but it’s important for Fort Worth to put our stake on the floor and say, “What do we want to be when we grow up?” Fort Worth Mayor Mattie Parker said..

Fidelity Investments offers Bitcoin Investments.

The city’s announcement was also made on the same day that Fidelity Investments, the largest 401(k) manager, announced that it would be offering Bitcoin investments in their retirement plans.

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