Bitcoin mining company Riot Blockchain will build a power plant in Texas that will provide up to 1.7 gigawatts of energy.
Riot Blockchain has decided to set up its own electrical substation to generate higher profits from its mining operations.
The company has announced plans to install a 1.7 gigawatt (“GW”) electrical substation in Navarro County, Texas, without sacrificing the city’s energy.
With this power plant to be established, it is planned to reduce 600,000 tons of greenhouse gas emissions per year.
The power plant is expected to be operational in mid-2023.
Riot Blockchain CEO Jason Les said that once the operation is complete, Riot’s capacity will total 1.7 GW. This will make Riot Blockchain one of the most powerful companies in the Bitcoin mining industry.
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