Riot Energizes New Corsicana Facility In Navarro County, Texas; Over The Next Several Months And Are Expected To Add An Additional 12 EH/s To Riot's Self-Mining Capacity, Which Is Expected To Total 31 EH/s By The End Of 2024
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Riot Platforms, Inc. (NASDAQ:RIOT) has energized its Corsicana Facility's substation in Navarro County, Texas, marking a significant step towards becoming the world's largest Bitcoin mining facility. The facility, with a future total capacity of 1 GW, has initiated operations with a 400-megawatt substation. This development is part of Riot's plan to increase its self-mining hash rate capacity to 31 EH/s by the end of 2024. The first phase of this expansion, involving the initial 400 MW, will contribute 16 EH/s to Riot's capacity, with the first batch of miners already operational.
April 18, 2024 | 1:08 pm
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Riot Platforms, Inc. has successfully energized the substation at its Corsicana Facility, a key step in its strategy to become the world's largest Bitcoin mining operation. This move is expected to significantly increase Riot's self-mining capacity to 31 EH/s by the end of 2024.
The energization of the Corsicana Facility's substation is a critical development for Riot Platforms, Inc., as it directly impacts the company's operational capabilities and future growth in the Bitcoin mining industry. This expansion is likely to be viewed positively by investors, as it aligns with Riot's strategic goals and demonstrates tangible progress towards achieving a significant increase in mining capacity. The announcement could lead to increased investor confidence and potentially a positive impact on RIOT's stock price in the short term.
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