Colorado-based Riot Blockchain, one of the world's largest publicly traded bitcoin mining companies, is expanding its Texas footprint with a new 265-acre facility in Corsicana, located about an hour south of Dallas. The project represents a $333 million investment and is expected to create approximately 270 direct jobs.
Key Highlights of the Corsicana Facility
- Capacity: 1 gigawatt (GW) at full build-out (enough to power ~750,000 homes).
- Phase 1: 400 megawatts (MW) with immersion-cooling technology buildings.
- Timeline: Operations begin July 2023.
- Partner: Priority Power (Arlington-based energy solutions provider) handling utility interconnections and power agreements.
Once completed, Riot’s total energy capacity across Texas will reach 1.7GW, bolstered by its existing 300MW Rockdale facility acquired in 2021.
Why Texas?
Texas has emerged as a crypto-mining hub due to:
- Low energy costs and abundant renewable resources.
- Available land for large-scale operations.
- Pro-business policies, contrasting with China’s 2021 mining ban.
👉 Discover how Texas leads in blockchain innovation
Riot’s Strategic Growth
- Balance Sheet: Holds ~5,800 bitcoins (worth ~$232 million as of April 2022).
- Funding: Filed to sell $500 million in shares for project expansion.
- Revenue: $213 million in 2021 (a 1,665% YoY increase).
North Texas: A Crypto-Mining Hotspot
Dallas-Fort Worth hosts:
- Applied Blockchain (recently public).
- Texas Blockchain Council, fostering public-private partnerships.
- Fort Worth, the first U.S. city to mine bitcoin from city hall.
👉 Explore crypto-mining opportunities in DFW
FAQ Section
Q: Why is Riot investing in Texas?
A: Texas offers low energy costs, renewable energy access, and regulatory clarity for crypto operations.
Q: How many jobs will the Corsicana facility create?
A: ~270 direct jobs in Phase 1.
Q: What’s unique about Riot’s cooling technology?
A: Immersion-cooling systems improve efficiency and reduce environmental impact.
Q: How does Texas compare to China in bitcoin mining?
A: Texas is now a top destination after China’s 2021 crackdown displaced 75% of global miners.