Riot Blockchain will build a private electricity station for BTC miners in Texas that will supply up to 1.7 gigawatts of energy so let’s read more today in our latest Bitcoin news.
Bitcoin mining is a very energy-intensive activity but this will not be a problem for Riot Blockcahin since the US mining company decided to create its own electrical station in Texas to get more profits. Riot Blockchain will build a private electricity station while initially founded in 2000, and announced intentions to build a 1.7-gigawatt electrical substantial in Texas to meet the demands of the mining equipment without compromising the city’s power grid.
To put things into perspective, the station the capacity will be enough to supply the electricity consumption of about 2 million residents and will mitigate the emission of 600,000 tons of greenhouse gases per year. Riot will also have enough energy to power more than 4 buildings they expect to create in the next two years to install their mining farms. According to Riot, the project’s first phase will be fully operational by 2023 and will provide accommodation for various immersion-cooling mining machines.
The project is currently underway and the first phase will launch with an initial capacity of 400 megawatts and will be then increased by another 600 MW via switchgear located 1250 feet from the plant. The CEO Jason Les said that once the expansion is completed, Riot’s developed capacity with 1.7 GW which is an achievement that will launch the company into the BTC mining industry globally:
“Riot’s ability to source such a significant expansion opportunity in Texas exemplifies the Company’s partnership-driven approach with all stakeholders, including the Company’s business partners, ERCOT, and all levels of government, to commit to sustainable economic development.”
Chad Harris the CEO of Whinestone said that the expansion was an example of the positive environmental and economic impacts that BTC mining companies can deliver in the underdeveloped regions in America. The station will have an initial cost of $333 million whcih will generate more than 270 direct jobs in Texas’ Navarro country. The Texas city of Fort Worth became the first in the US to mine BTC using three S9 Antminers that were donated by the Texas Blockchain Council. The initiative has the backing of Mayor Mattie Parker pointed out that the energy costs can be mitigated by BTC obtained via mining. She also indicated the future investments in the type of activity depending on the in-depth evaluation which will take place in the next 6 months.
- 000
- 7
- About
- According
- activity
- All
- america
- announced
- Another
- approach
- Bitcoin
- Bitcoin News
- blockchain
- BTC
- build
- business
- Capacity
- ceo
- City
- Companies
- company
- Company’s
- compromising
- consumption
- Costs
- country
- create
- Currently
- demands
- Depending
- developed
- Development
- direct
- Economic
- electricity
- emission
- energy
- environmental
- equipment
- evaluation
- example
- expansion
- expect
- Farms
- Feet
- First
- Founded
- future
- generate
- Globally
- Government
- Grid
- HTTPS
- Including
- increased
- industry
- Initiative
- install
- Investments
- Jobs
- launch
- Machines
- Mayor
- million
- Miners
- Mining
- mining machines
- months
- more
- news
- obtained
- Opportunity
- own
- partners
- perspective
- phase
- positive
- power
- private
- Problem
- profits
- project
- provide
- Riot Blockchain
- Said
- significant
- So
- station
- substantial
- supply
- sustainable
- texas
- The Initiative
- today
- tons
- us
- various
- while
- without
- worth
- year
- years
