Colorado firm investing over $300 million for bitcoin mining, hosting site south of Dallas – Dallas Business Journal – The Business Journals

Colorado firm investing over $300 million for bitcoin mining, hosting site south of Dallas – Dallas Business Journal – The Business Journals

A public company focused on bitcoin mining and hosting plans to invest over $300 million in a site south of Dallas.
Colorado-based Riot Blockchain (Nasdaq: RIOT) has unveiled a development in Navarro County, located about one hour south of Dallas. It would add to another site in Texas.
This first phase of the new effort in Navarro County will be for $333 million and is scheduled to be invested over this year and into the first quarter of 2024. It includes land acquisition, site preparation and construction of buildings.
“Navarro County is where the company found surplus energy located in a community that welcomed Riot’s arrival,” a spokesperson said separately.
The company, which will use immersion-cooling infrastructure and technology, said the initial effort would be for 400 megawatts of power with room for up to about 1 gigawatt, in the statement. The initial phase is anticipated to bring about 270 “direct jobs,” it said.
There are other efforts with crypto and mining around North Texas. In October, Core Scientific, a blockchain infrastructure and software provider in Austin, announced an agreement with the City of Denton and energy company Tenaska to create a cryptocurrency mining operation. It opened some of its capacity earlier this year. And this week, the city of Fort Worth is launching a pilot program to mine bitcoin.
Riot already has a site in Rockdale, located south of Waco. It’s a few hours from Navarro County, allowing the company to leverage its existing employee base, it said.
With the new addition, “Riot’s developed capacity will total 1.7 GW, establishing the company among the largest bitcoin mining operations globally,” Jason Les, CEO of Riot, said in a statement.
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