Key Takeaways
- Bitcoin miners invested over $1 billion in Rockdale.
- Hundreds of mid-skill jobs were created in Rockdale.
- Texas is now a hub for Bitcoin mining with 22,000 employed statewide.
Rockdale, Texas, faced economic collapse in 2008 when its largest employer, the Alcoa aluminum plant, closed.
The plant’s shutdown resulted in hundreds of job losses, a shrinking tax base, and reduced funding for public services.
Miners move in
The town’s fortunes shifted when Bitcoin mining companies moved in, attracted by the existing energy infrastructure.
Mayor Ward Roddam, initially skeptical, now credits Bitcoin miners for revitalizing the economy.
He said:
I wasn’t sure about these miners. Were they here to stay? Was Bitcoin even real?
But after seeing the benefits firsthand, he changed his view.
Hundreds of jobs
Bitcoin miners created hundreds of jobs in mid-skill positions, allowing residents to stay and work locally.
These companies also became major taxpayers, contributing to public services like schools and parks.
The $1 billion investment in Rockdale extended to community support, including donations to youth sports, scholarships, and public safety.
Critics
Roddam pushed back against critics, noting that while some argue Bitcoin mining jobs are limited, Rockdale’s experience shows otherwise.
The industry’s impact isn’t confined to Rockdale; communities like Corsicana are also expected to benefit, with Bitcoin mining projected to create hundreds of jobs and bring in $1.4 billion in taxable revenue.
