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Ward Roddam, the Mayor of Rockdale, Texas, has highlighted Bitcoin’s crucial role in revitalizing the town’s economy.
In an Oct. 7 op-ed, Roddam explained that the world is nearing a new economic era driven by what he calls the “digital energy boom,” largely fueled by Bitcoin. He noted that rural communities, including Rockdale, are already reaping the benefits.
Rockdale once thrived as a manufacturing center, hosting the Alcoa aluminum plant from 1952 until its closure in 2008. The shutdown led to a significant decline in tax revenue and job opportunities, creating funding challenges for public services.
In recent years, Bitcoin miners like Riot Platforms and Bitdeer have repurposed the old Alcoa facility for their operations. This site features extensive energy infrastructure, including substations and transmission lines, which Bitcoin miners depend on heavily.
Initially, Roddam had reservations about the miners. However, after years of collaboration with industry leaders, he began to see their positive impact. He stated:
Roddam emphasized that Bitcoin miners have contributed significantly to the local economy by creating new jobs. Their investments exceed $1 billion, and they actively support community initiatives through donations and sponsorships.
He expressed concern that recent statements from Texas lawmakers might misrepresent Bitcoin’s benefits. According to Roddam, the miners generate more local employment than critics suggest.
Looking ahead, he suggested that Riot Platforms’ planned expansion into Corsicana could replicate Rockdale’s success and further strengthen the region’s economy.
Roddam noted that the new facility in Corsicana would become one of Navarro County’s largest employers, potentially bringing $1.4 billion in taxable purchases and over $115 million in wages over the next decade.
He concluded:
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In an Oct. 7 op-ed, Roddam explained that the world is nearing a new economic era driven by what he calls the “digital energy boom,” largely fueled by Bitcoin. He noted that rural communities, including Rockdale, are already reaping the benefits.
Rockdale once thrived as a manufacturing center, hosting the Alcoa aluminum plant from 1952 until its closure in 2008. The shutdown led to a significant decline in tax revenue and job opportunities, creating funding challenges for public services.
How Bitcoin helped Rockdale
In recent years, Bitcoin miners like Riot Platforms and Bitdeer have repurposed the old Alcoa facility for their operations. This site features extensive energy infrastructure, including substations and transmission lines, which Bitcoin miners depend on heavily.
Initially, Roddam had reservations about the miners. However, after years of collaboration with industry leaders, he began to see their positive impact. He stated:
Roddam emphasized that Bitcoin miners have contributed significantly to the local economy by creating new jobs. Their investments exceed $1 billion, and they actively support community initiatives through donations and sponsorships.
He expressed concern that recent statements from Texas lawmakers might misrepresent Bitcoin’s benefits. According to Roddam, the miners generate more local employment than critics suggest.
Looking ahead, he suggested that Riot Platforms’ planned expansion into Corsicana could replicate Rockdale’s success and further strengthen the region’s economy.
Roddam noted that the new facility in Corsicana would become one of Navarro County’s largest employers, potentially bringing $1.4 billion in taxable purchases and over $115 million in wages over the next decade.
He concluded:
Mentioned in this article
Source link
The post Texas town Rockdale’s Mayor credits Bitcoin for economic turnaround appeared first on Panther AI.
Continue reading...