Riot Platforms (Nasdaq: RIOT), a vertically integrated Bitcoin mining company based in Castle Rock, Colorado, is nearing completion of its 400-megawatt Bitcoin mining facility in Corsicana, about an hour south of Dallas.
Shown above, the operation is just Phase 1 of the project, which when fully developed is slated to total a full one gigawatt of capacity. As we reported in 2022, Riot—then known as Riot Blockchain—said it was investing $333 million on Phase 1 at the 265-acre Corsicana site, for things like site preparation and construction on buildings to house the company’s immersion-cooling technology. The company said at the time that it expected the project to create around 270 direct jobs.
Inside Building 1 of Riot’s Corsicana Bitcoin mining facility. [Photo: Riot Platforms]
In a Monday release, Riot said it had already begun developing Phase 2 at its Corsicana facility, which will add another 600 megawatts of capacity to the operation. The company said long lead electrical infrastructure components have been ordered for Phase 2, with its first buildings slated to begin operation in the second half of 2025.
Jason Les
As part of Corsicana project, Riot said in 2022 that it had partnered with Arlington-based energy solutions provider Priority Power to provide site development, utility interconnection, power purchase agreements, and power load flexibility services.
“In October, Riot achieved a new post-halving milestone in production, with 505 Bitcoin mined in the month,” Riot CEO Jason Les said in a statement.
“This 23% increase in production from September is a reflection of both the ongoing growth in our deployed hash rate and of the efforts to improve our operational efficiency,” he added. “During the month of October, our deployed hash rate increased to 29.4 EH/s, driven by new deployments of latest generation MicroBT miners at the Corsicana facility. We’re pleased with the positive operational momentum underway and look forward to continuing this progress.”
Riot operates additional Bitcoin mining operations in central Texas and Kentucky, and electrical switchgear engineering and fabrication operations in Denver, Colorado.
The company was founded in October 2017 when Bioptix, a publicly traded biological sciences technology company, rebranded as Riot Blockchain. Bioptix had gone public in January 2003.
In 2021, Riot acquired this 300MW Rockdale facility south of Waco as part of its acquisition of fellow bitcoin mining and hosting company Whinstone US in a $651 million cash and stock deal. [Photo: Riot Platforms]
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