American mining company Riot Blockchain has announced plans for a massive expansion in Navarro County, Texas. The new mining farm will consume 1 GW of energy.
Riot Blockchain is rapidly expanding with the installation of hardware at Whinstone Farm in Rockdale. At the moment, the farm consumes 400 MW, but in the future it is planned to increase the capacity of the facility to 750 MW. Once the installation of the equipment is complete and the Navarro farm is fully operational, the total capacity of the Riot Blockchain equipment will be 1,7 GW.
Once our plans are implemented, the total capacity will be 1,7GW, making Riot the largest mining company in the world,” said Riot Blockchain CEO Jason Les.
Construction work is now underway in Navarre. As part of the first stage, installation of equipment with a total output of 400 MW is planned. ASIC miners should be included in the work by July next year. The first phase of construction of the data center in Navarre will cost Riot Blockchain $333 million. According to the management of the mining company, the full launch of the farm will provide 270 jobs to the state.
Subsequently, the capacity of the data center in Navarre will be increased by another 600 MW. For this, it will be necessary to install a 345 kV substation. However, there is no exact date for the start of the second phase of construction. At the same time, the farm is built according to the most modern standards, with immersion cooling. It will also host the capacities of third-party companies.
Earlier, Arcane Research reported that major mining companies have significantly increased their growth rate. In addition, the stocks of bitcoins in their wallets are still growing.
