- Riot Blockchain, Inc RIOT, a Bitcoin mining and data center hosting company broke ground with its 1-gigawatt expansion project in Corsicana, Navarro County, Texas.
- “This groundbreaking marks a significant step forward in demonstrating Riot’s ongoing commitment to positively impacting the rural communities that we operate in,” EVP Chad Harris said.
- “The development of the Corsicana Facility builds on the success of our 700-megawatt Rockdale Facility and, when complete, will bring Riot’s market-leading position to a total of 1.7 GW of developed capacity.”
- The first phase of the Corsicana Facility will consist of 400 megawatts, with self-mining and data center hosting operations likely to commence by the fourth quarter of 2023.
- The first phase of the Corsicana Facility’s development will likely create 270 jobs.
- The first phase of the Corsicana Facility’s development will likely consist of four 100 MW buildings utilizing immersion cooling technology similar to Riot’s Rockdale Facility.
- The Company anticipates that 200 MW out of the initial 400 MW will be for its self-mining business, with the balance reserved for expanding Riot’s data center hosting business with large-scale institutional clients.
- Sen. Elizabeth Warren and six other members of the U.S. Congress called on leaders in Texas to disclose the energy usage and environmental impact of Bitcoin mining operations in the state.
- Warren accused Texas of being a “deregulated safe harbor” for crypto mining firms.
- Price Action: RIOT shares traded lower by 2.47% at $5.73 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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