The move also comes less than a month after Riot, which trades on the Nasdaq under the ticker RIOT, filed paperwork to sell up to $500 million in shares through an at-the-market offering, with funds being potentially used for investing in current and future projects. “The acquisition of Whinstone is the most significant achievement in Riot’s growth to date,” Les said at the time. Riot said the proximity between the two facilities will help it source talent for the Corsicana facility.
Riot is currently expanding that facility to have a capacity of 750MW. Riot acquired the 300MW Rockdale facility as part of its acquisition of fellow bitcoin mining and hosting company Whinstone US in a $651 million cash and stock deal last year. The Corsicana expansion comes as Riot is building out a facility it operates in Rockdale, Texas, about an hour south of Waco. Once fully completed, Riot said the Navarro County facility will bring its total energy capacity to 1.7GW. The facility is expected to begin mining and hosting operations next July and to create about 270 direct jobs when the first phase comes online.Īs part of the effort, Riot has partnered with Arlington-based energy solutions provider Priority Power to provide site development, utility interconnection, power purchase agreements, and power load flexibility services. For the first phase of the project, which will have 400 megawatts (MW) of capacity, Riot is investing $333 million for things like site preparation and construction on buildings to house the company’s immersion-cooling technology.
RIOT CRYPTOCURRENCY TICKER FULL
Īt full capacity, the development is expected to have one gigawatt (GW) of capacity-enough energy to power around 750,000 households.
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