Bitcoin mining is a tremendously energy-intensive operation, but Riot Blockchain Inc will be able to handle it. The company chose to build its electricity substation in Texas to increase earnings.
Riot Blockchain Inc, a bitcoin mining firm started in 2000, said on April 27 that it intends to build a 1.7 gigawatt (“GW”) electrical substation in Navarro County, Texas, to fulfill the electricity demands of its mining equipment without putting the city’s power supply at risk.
A station with this capacity could provide the electrical needs of over 2 million people while also reducing greenhouse gas emissions by 600,000 tonnes each year. As a result, Riot will have enough energy to power the more than four buildings it plans to construct over the next two years to house its mining farms.
The project’s first phase, according to Riot, should be completely operational by July 2023, giving space for various immersion-cooled mining machines. The substation is already under construction, and the first phase will have a capacity of 400 megawatts. The plant’s capacity will then be expanded by 600 MW via switchgear positioned 1,250 feet distant.
Riot Blockchain’s CEO, Jason Les, stated that once the expansion is done, its developed capacity would equal 1.7 GW, making it one of the largest bitcoin mining companies in the world.
According to Whinstone CEO Chad Harris, this development exemplifies the good environmental and economic implications that Bitcoin mining companies may have in “underdeveloped regions of America.”
This station will cost an estimated $333 million to build and create more than 270 direct employment in Navarro County.
