Riot Blockchain's 1GW cryptomining farm in Texas

Riot Blockchain Inc. has announced that it is going to build a new cryptomine data center in Texas, on a 265-acre site that will utilize 1GW of energy, with an initial capacity of 400MW. According to reports, if used at full capacity constantly, the facility would consume the same amount of energy as 800,000 homes (11,000kWh per year). 

The first phase of the expansion, which will see facility become the largest among competitors, is estimated to cost around $333 million and will include land acquisition, preparation substation development and transmission construction. The company will invest this money throughout 2022, 2023 and the first quarter of 2024. Following the first phase, the facility will have an initial capacity of 400MW, however, later on down the line, this will be expanded by an additional 600MW to 1 GW.

Speaking about the development, Jason Les, CEO of Riot: "Upon completion of the expansion, Riot's developed capacity will total 1.7GW, establishing the company among the largest Bitcoin mining operations globally." He added: "his expansion is a testament to the company's demonstrated ability to build and deliver high-quality large-scale digital asset infrastructure for its Bitcoin mining operations and future hosted clients."