Riot Blockchain, Inc. announce that it has officially broken ground at the Company's 1 gigawatt (“GW”) expansion project (“the Corsicana Facility”) in Corsicana, Navarro County, Texas. Local and state officials and Riot employees gathered to celebrate the Company's groundbreaking ceremony in Corsicana on Tuesday, October 18th.  The first phase of the Corsicana Facility will consist of 400 megawatts (“MW”), with self-mining and data center hosting operations expected to commence by the fourth quarter of 2023. The Corsicana Facility's total capacity of 1 GW has been approved by the Electric Reliability Council of Texas (“ERCOT”).  To the Company's knowledge, this is the first 1 GW load ever approved by ERCOT, and is a testament to Riot's partnership-driven approach, commitment to transparency, well-capitalized position, and successful track record of executing on large electrical infrastructure developments.

The first phase of the Corsicana Facility's development is expected to directly lead to the creation of approximately 270 jobs and will position Riot as one of the employers in Corsicana, driving significant positive economic benefits within Navarro County.  As demonstrated by the Company's success at its 700 MW Rockdale Facility, Riot anticipates that the development of the Corsicana Facility will lead to the creation of numerous high-skill, career-track employment opportunities in the local community. The first phase of the Corsicana Facility's development is expected to consist of four 100 MW buildings utilizing immersion cooling technology similar to what is already in place at Riot's Rockdale Facility. The Company anticipates that 200 MW out of the initial total of 400 MW will be dedicated to the Company's self-mining business, with the balance reserved for expanding Riot's data center hosting business with large-scale institutional clients.