Jackie Sawicky, 42, was scrolling Facebook in late April when she saw a video about a surprise economic development announcement by the city of Corsicana. Intrigued, she clicked to watch.
She learned that Castle Rock, Calif.-based Riot Blockchain, one of the largest Bitcoin mining companies in the world, is building a massive crypto mining facility on a 265-acre property in the Navarro County community of about 50,000 residents. It sits near the end of a high-voltage transmission line — known as a switch — that’ll supply the electricity needed to mine for digital currency.
“You had two very valuable resources,” said Chad Harris, chief commercial officer at Riot. “You had the Navarro switch and you had water.”
When completed, the facility will have a maximum capacity of 1 gigawatt, enough electricity to power 300,000 to 1 million homes in the U.S. That’s over 30% bigger than Riot’s capacity at its existing facility about two hours away in Rockdale.
“Twenty-seven months ago, I read an...
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