Nasdaq-listed mining company Riot Blockchain has announced plans to build a 1GW bitcoin mining facility in Navarro County, Texas.

The company has already started the implementation of the first phase. On its route, an enterprise with a capacity of 400 MW will be established on an area of ​​​​more than 107 hectares. Mining operations on immersion-cooled equipment are expected to begin in July 2023.

The first stage includes:

• land acquisition and site preparation;
• construction of a substation and power lines;
• utilities for mining infrastructure and construction of four buildings.

Riot is investing in installments through the end of the first quarter of 2024, estimating that this phase will cost $333 million.

In the future, the capacity of the plant will be increased by 600 MW.

“After the completion of the expansion, the installed capacity will reach 1,700 MW, making the company one of the largest in the bitcoin mining business in the world,” said Jason Las, CEO of Riot.

The partner in the implementation of the project was the infrastructure company Priority Power, which will manage the development of the facility, connect the utilities and power supply.

The companies collaborated during the development of the Whinstone USA data center. The Rockdale, Texas-based mining firm purchased the facility in 2021.

Riot noted that the new facility is within a two-hour drive of the site, which will allow for the “efficient use of human resources” by technical staff.

Recall that the data centers of a number of industry companies, including Compute North, Iris Energy, Core Scientific, and Marathon Digital, are already located or under construction in Texas.

Fort Worth, one of the cities in the region, was the first city in the US to start bitcoin mining. during a pilot project.