Massive Bitcoin mining operation is coming to North Texas
CORSICANA, Texas (TBEN) – Navarro County will soon be home to a massive Bitcoin mining operation.
Riot Blockchain believes the site about 10 miles south of Corsicana will one day be the largest in the world, employing around 900 people.
“We come to Corsicana to build the biggest in the world,” said Chad Harris. “Here… by creating jobs, by creating economic impact, we have essentially turned energy into opportunity.”
Harris, along with Riot Blockchain, yesterday announcing to a packed house of locals the company’s new partnership with the county and city.
“So they were looking for several things,” said Corsicana town economic development manager John Boswell. “They needed a lot of power and we have a big substation with a lot of power running through it…and water.”
The new site will initially have a capacity of 400 megawatts and should be operational by next year. The estimated cost of the first phase is approximately $333 million.
Eventually the hope is that it will become a one gigawatt facility.
Riot Blockchain is working with Priority Power Inc., an independent energy management consulting and services company, to support the project.
“I think it’s going to be a lot like the Rockdale project,” Boswell said. “Four buildings, approximately 100,000 square feet each.”
Texas is on its way to becoming one of the largest bitcoin producers in the world.
Lawmakers are passing bills to entice more carriers to bring projects like this to the state.
ERCOT, which manages the state’s electricity grid, works closely with policy makers and stakeholders.
