Texas: Petition Against Riot Blockchain’s Largest Bitcoin (BTC) Mining Facility

Local elected officials, project promoters and local residents would not share the same opinion on the proliferation of extraction of bitcoin in Texas. Senator Ted Cruz quickly became famous for his proven love of cryptocurrencies. The activities of extraction they spread across this ancient desert at great “V” speed. Except this time, local residents don’t seem to agree on the implementation of a similar project. An appeal has been launched to sign a petition against the installation of Riot Blockchain.

Texas, a paradise for bitcoin miners?

Pro-bitcoin Senator Ted Cruz did not consult with Texans before deciding to make Texas a ” oasis »For bitcoin and cryptocurrencies? This is indeed the plan he confessed on May 23 at a Heritage Foundation reflection meeting called “Bitcoin and the American Experience”. However, it is not unanimous.

I believe in bitcoin. I want Texas to be the oasis of planet Earth for bitcoin and cryptocurrencies “, He hammered in his speech.

Cruz, who is full of praise for bitcoin and its decentralizing power, doesn’t hesitate to denigrate the left for its hateful stance towards cryptocurrencies. He believes these politicians are not yet ready to give up control of the current financial system.

Fortunately, many of the companies in the bitcoin mining considered this favorable position of Ted Cruz. Recently, in May, Texas Pacific Land Corporation (TPL) entered into a partnership with Mawson Infrastructure Group and JAI Energy to install infrastructure capable of supporting 2 exahash per second.

Furthermore, Texas quickly became the new El Dorado for miners following China’s crackdown on the bitcoin mining in July 2021. Find more details on this topic here.

On June 16, another facility in the same state was announced: that of Riot Blockchain.

Riot Blockchain, another bitcoin mining giant in Texas

Now that Texas is welcoming bitcoin miners with open arms, Riot Blockchain will also want to try their luck. Attending the dance of the actors and stakeholders of the cryptocurrency occupying the region is his current goal.

To assert its will, Riot Blockchain has opted for a large-scale installation in the city of Corsicana (Navarro – Texas). “Great”, because he will occupy a 265-acre property there. Basically, it will be erected over an area 30% larger than Rockdale’s and will develop a maximum capacity of 1 gigawatt.

Riot Blockchain is also no unknown company in the industry. It is said to be among the largest bitcoin mining companies in the world.

As for power, the new crypto-conqueror hopes to tap into a high-voltage transmission line. A switch, they say.

You have two very valuable resources: the Navarro switch and water “, Points out Chad Harris, Riot’s chief commercial officer.

The local community doesn’t support Riot

1 gigawatt is the equivalent of the consumption of 300,000 to 1 million households. However, energy is starting to run low across Texas. The reason: local power plants run on renewable energy. And you know that extreme weather conditions make it difficult for them to produce electricity. Sometimes, the Texas authorities invite people, companies of mining bitcoin included, to limit the use of electricity.

Suddenly, a tiny portion of the population wants to block the way to Riot Blockchain. Already, with current facilities, the city is struggling to meet the demand of local residents. There is also the fact that the installation intended for the mining bitcoin he will pump a lot of water to cool his equipment. Doesn’t that mean an imminent drying up of local resources? And as a corollary the increase in energy bills.

Here’s what Jackie Sawicky, representative of the Texan skeptics thinks:

They advertised it as something we should be grateful for. Do they use our resources and what do we get in return?

Furthermore, many of them see cryptocurrency as a Ponzi scheme or a chain / pyramid. Recall that the Ponzi pyramid is similar to a scam that offers huge returns to investors. During its collapse, the latter, especially the new arrivals, will be the victims.

As a sign of regret, Sawicky adds:

We can’t go into a store and buy something from them.

A petition and more than 600 signatures collected against Riot Blockchain

To demonstrate the seriousness of their approach, the dissatisfied with the installation of the center of mining bitcoin de Riot created a Facebook page called “ Concerned citizens of Navarro County Along with this, they started a petition dubbed “NO to the Bitcoin Riot mine in Navarro County.”

Provisional assessment: The petition attracted around 674 people within 2 months of Jackie Sawicky’s launch. However, it is necessary to reach 1,000 signatures in order to benefit from the status of ” registered petition “. As for the Fabebook page, a brief overview of Zuckerberg’s social network allowed us to make the following observation: the private group” Concerned citizens of the town of Navarro has a total of 528 members at the time of writing.

Given the lack of enforcement of resistance, Riot Blockchain’s CCO believes it “99.9% of people seem happy “. As an accompanying measure, the company extraction of bitcoin stressed that their plant in Texas represents an economic and financial asset for the community. Jobs and good pay, ranging from $ 15 to $ 35 an hour, are sure to change your mind, riot management believes.

Source: Finbold

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The blockchain and crypto revolution is underway! And the day the impacts are felt on the world’s most vulnerable economy, against all hope, I will say it has something to do with it.

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