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Back in April, a Colorado-based bitcoin mining company announced<\/a> they would be expanding its operations to Corsicana, Texas, in efforts to use enough power that could light up to 200,000 homes. <\/strong><\/p>\n As one of the country\u2019s largest bitcoin (BTC) miners, Riot Blockchain (RIOT) currently operates a 400 MW facility in Rockdale, Texas, revealing that they were in the process of developing a 265-acre site for a digital crypto mining operation, which is expected to open in Corsicana in July 2023. <\/p>\n While the company says it will eventually have enough power to light 200,000 homes, the first phase of the facility will use about 400 MW of power, which is enough electricity to power around 80,000 Corsicana homes at \u201cpeak capacity.\u201d<\/p>\n \u201cUpon completion of the expansion, Riot\u2019s developed capacity will total 1.7 GW, establishing the company among the largest bitcoin mining operations globally,\u201d said Jason Les, CEO of Riot. \u201cRiot\u2019s ability to source such a significant expansion opportunity in Texas exemplifies the company\u2019s partnership-driven approach with all stakeholders, including the company\u2019s business partners, ERCOT, and all levels of government, to commit to sustainable economic development.\u201d<\/p>\n The company says that the first 400 MW phase alone is expected to bring about 270 jobs to the area. Currently, Riot Blockchain operates a mining facility about 50 miles northeast of Austin in Rockdale, dubbed Whinstone, which has a total power capacity of 750 MW. It is believed to be the single-largest facility<\/a>, by capacity, dedicated to bitcoin mining in North America.<\/p>\n The city of Arlington\u2019s Priority Power Management will reportedly be managing the site development, utility interconnection, power purchase agreements, and power load flexibility for the mining facility. <\/p>\n According to a recent quarterly report<\/a>, Riot Blockchain posted revenues of $79.8 million for the quarter which ended in March, missing the consensus of analyst estimates of $83.7 million.<\/p>\n A day prior to Riot Blockchain\u2019s announcement, the city of Fort Worth became the first city in the U.S. to mine bitcoin, with city council leaders unanimously approving a pilot program<\/a> involving three S9 Bitcoin<\/a> mining machines which will run 24 hours a day and seven days a week. <\/p>\n \u201cFort Worth has sometimes struggled to be out of the shadow of Dallas. We love our counterpart in the east of the Metroplex, but it\u2019s important for Fort Worth to kind of put our stake in the ground and say, what do we want to be when we want to grow up?\u201d said Fort Worth Mayor Mattie Parker<\/a>.<\/p>\n The city\u2019s announcement also came on the same day as Fidelity Investments, the largest 401(k) administrator announced that it would be offering a bitcoin investment<\/a> to workplace retirement plans. <\/p>\n What do you think about this subject?\u00a0Write to us and tell us<\/a>!<\/p>\n All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.<\/p>\n<\/p><\/div>\nLighting the city of Corsicana up <\/h2>\n
Fort Worth becomes first city in the U.S. to mine bitcoin<\/h2>\n
Fidelity Investments offers bitcoin investments<\/h2>\n
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