• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, June 18, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto Bitcoin

RIOT purchased a Bitcoin mining site in Texas for $650 million

by Reshab Agarwal
April 10, 2021 - Updated On July 29, 2021
in Bitcoin, Crypto, News
Reading Time: 2 mins read
0
China

Bitcoin

TwitterWhatsappLinkedin

Bitcoin mining has become very popular in the past few months. If we take a look at the mining history of Bitcoin, then it’s important to know that these miners are holding their coins in their bitcoin wallets. This is because Bitcoin is doing really well and seems to have a great future. It is also why more companies are expanding their Bitcoin mining operations. One such company is RIOT that recently purchased a Bitcoin mining site in Texas for $650 million. At the same time, another company Blockcap has set up its headquarters in Austin.

You might also like

Bitcoin ATMs: A Safe Bet or a Scam Waiting to Happen?

Trezor joins BTC Prague 2025 as one of the main partners

Google Pixel 10 Series to Debut Tele-Macro Camera and Tensor G5 SoC

RIOT mining site purchase

Riot Games buys Bitcoin mining site for $650 M
Image Source: Los Angeles Times

The Bitcoin mining site that RIOT purchased for a whopping $650 million was a project started back in 2019. The idea of the project was to create one of the largest bitcoin mining facilities globally. It was owned by Northern Data AG that has many other similar projects. RIOT paid the company in cash and blockchain shares of their company. After the deal is finalized, Northern Data AG will own 12% of RIOT’s shares. Reports suggest that the reason behind this sale was that Northern Data AG wanted to focus on other sites.

Northern data claims that their systems are highly efficient and use industry-leading tech. At the same time, they also have proper access to renewable energy resources. This is particularly important because of the high energy usage in Bitcoin mining. If a company solely depends on electricity for the purpose, the cost of mining will be very high, and the carbon footprint of the operation will be huge. This will result in a lot of backlash from the community and wouldn’t be a good thing even in general.

Blockcap’s new headquarters in Austin

Blockcap
Image Source: www.blockcap.com

Another company that has advanced into the Bitcoin mining industry is Blockcap. The company has recently set up its headquarters in Austin. It has also planned to use a fixed of $75 million to purchase Bitcoin mining setups. This will make it among the biggest mining companies globally. The company was also praised for bringing about innovation in the state. Texas is slowly becoming a hub of companies that drive innovation in different industries. We have Tesla in the EV industry, and now we Blockcap in the BTC market. There are many other companies too in the state.

Even after so many large companies, the US market is the 2nd largest in terms of BTC mining. China is still at the top, accounting for more than 70% of the global hash rate. So, many US companies are taking it up to themselves to help change that. Talking about Blockcap, they want to expand to different locations from their headquarters in Austin and continue to grow as a mining company.


What are your thoughts on the expansion of RIOT by purchasing a $650 million mining site? And Blockcap establishing its headquarters in Austin? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.

Also Read: Bitcoin struggles to take ground at the $58k price point.

Tweet54SendShare15
Previous Post

Hire a Hacker to Change University Grades

Next Post

Meitu Holds over $100 million in Bitcoin and Ethereum

Reshab Agarwal

Reshab is a tech-enthusiast who likes to write about all things crypto. He is a Bitcoin bull and believes in a decentralized future of finance. Follow him on Twitter for more!

Recommended For You

Bitcoin ATMs: A Safe Bet or a Scam Waiting to Happen?

by Rohan Mathawan
June 18, 2025
0
Photo by Jake Allen on Unsplash

Bitcoin ATMs promise instant cryptocurrency access, but they also hide significant risks. These machines have multiplied to nearly 39,000 worldwide, creating convenient entry points for digital currency transactions....

Read more

Trezor joins BTC Prague 2025 as one of the main partners

by Rohan Mathawan
June 18, 2025
0
Trezor joins BTC Prague 2025 as one of the main partners

As part of the SatoshiLabs group, Trezor will join BTC Prague 2025 as one of the event’s main partners. Taking place from 19–21 June at PVA Expo Prague,...

Read more

Google Pixel 10 Series to Debut Tele-Macro Camera and Tensor G5 SoC

by Anochie Esther
June 18, 2025
0
Pixel 10 series

Google is set to unveil its Pixel 10 series on August 20, and early leaks have already started shedding light on some exciting new features. One of the...

Read more
Next Post
Bitcoin’s market is now bigger than JPMorgan, Bank of America and Citi Combined

Meitu Holds over $100 million in Bitcoin and Ethereum

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?