RIOT Blockchain plans the largest Bitcoin mining facility in the world!
178 sats \ 10 comments \ @satoshi_lords 12 Jul 2022 bitcoin
When completed RIOT Blockchains Texas Whinstone facility will be the largest in the world, as measured by developed capacity. With 700 Megawatts of Bitcoin mining power, the Whinstone facility will sustain RIOT’s expansion plans while the 1 Gigawatt facility in Navarro county Texas is started.
RIOT is already looking to increase its hashrate from 4.4 EH/s to 12.5 EH/s by January 2023. That hashrate would likely mean BTC production of nearly 17,000 bitcoins ($340M at 20k BTC prices).
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0 sats \ 0 replies \ @faithandcredit 13 Jul 2022
That is crazy!
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0 sats \ 3 replies \ @ideasourcing 13 Jul 2022
Tch tch, too much centralization, everyone should get 1 TH/s GekkoScience Chips and a USB Hub that costs $800 which almost everyone can afford. It uses very little power and the heat is manageable by a simple fan system.
If 1 million, just 1 million people provide 1 TH/s each, then the total Hash Rate of such plebs would be: 1,000,000 TH/s = 1 Exahash ... Current Bitcoin Hashrate: The current Bitcoin hashrate is 209.01 EH/s, representing the global Bitcoin network hashrate with a mining difficulty of 29.15 T at block height 744,771. 1/209.01th of the total Bitcoin Mining HashPower. Which is.....lol, nothing!
Damn, my tiny HomeMiner is a fraction of a fraction.
But hey,,,this brings the question...are there even a million plebs who are stacking continually? How do we really know? It is impossible to know. But what if there werre 2M of us.
And if 2 million HomeMiners did 1TH/s then we would at least be 1% of the total mining worldwide. That's something.
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0 sats \ 2 replies \ @ideasourcing 13 Jul 2022
but if 1 Billion people world wide each did 1 TH/s = 1k EH = 1 ZH (ZetaHash).
...
One day!
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7 sats \ 1 reply \ @ideasourcing 13 Jul 2022
I bet if a benevolent richie rich wanted to shake things up, he would gather the manufacutrers at GekkoScience and take them to a big Chinese manufacturer, and setup an order for 1 Billion sets of hubs, fans and Compac F miners, they would be able to bring hte price for this set to just $100 even, going by how these things are priced on Alibaba and AliExpress.
That's just 100 Billion dollars by someone right now to completely dencetralize bitcoin mining forever.
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0 sats \ 0 replies \ @ideasourcing 13 Jul 2022
What if Elon musk uses the 50 billion to buy Twitter to buy bitcoin instead, how crazy would that be, the market cap rn is just 400B, 1/8th! I mean why aren't we running an extensive campaign to give him the Twitter inception that yes this is what his destiny is as the highest hodler of BTC in the world. If any billionaire wanted to achieve this feat. NOW is the time to do it.
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0 sats \ 1 reply \ @k00b 13 Jul 2022
That's cool. Where'd you get the info so we can all read more deeply if we want?
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150 sats \ 0 replies \ @satoshi_lords OP 13 Jul 2022
Thanks for the reply @k00b !
I really should start adding sources hehe...
Info came from their most recent production report and their write up on the Whinstone facility from their website!
https://www.riotblockchain.com/investors/news-events/press-releases/detail/132/riot-blockchain-announces-june-2022-production-and
https://www.riotblockchain.com/bitcoin-mining/whinstone-u-s
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0 sats \ 2 replies \ @okada 13 Jul 2022 freebie
Any idea what ¢/kWh they are averaging at their facilities? Has to be below 0.05