8 October, 2024
Bitcoin is the digital oil well that's driving economic resurgence in rural Texas, mayor says
Mayor Ward Roddam of Rockdale, Texas, believes Bitcoin mining is key to the city’s recovery following the closure of its largest employer, Alcoa. Roddam compares it to the Texas oil boom, highlighting how this modern technology can create jobs, increase income, and fund essential services. With over $1 billion invested, Bitcoin mining has the potential to revitalize not only Rockdale, but rural Texas as a whole.
Bitcoin is a digital oil well that is driving economic renaissance in rural Texas, mayor says
“Bitcoin is like a digital oil well that has the potential to drive economic renaissance in rural Texas”
Rockdale Mayor Ward Roddam shares his thoughts on the transformative role Bitcoin mining has played in his community, likening it to the oil boom that once modernized the state. Writing for the Austin American-Statesman, Roddam explains how Rockdale’s economic prospects looked bleak after the closure of the Alcoa aluminum plant in 2008. The plant had been a major employer in the city since 1952.
“When Alcoa left Rockdale, the economy and tax base were cut in half,” he wrote. The closure of the plant resulted in massive job losses and a significant drop in tax revenue, severely limiting the city’s ability to fund essential services such as schools and parks. However, the mayor credits Bitcoin mining with breathing new life into Rockdale, thanks to Alcoa’s legacy energy infrastructure. Highlighting the industry’s impact in creating jobs and increasing local revenue, he said:
As the mayor and lifelong resident of Rockdale, I understand that Bitcoin miners are deeply invested in the communities where they work.
“In Rockdale, these companies now employ hundreds of people. They have created middle-skilled positions that allow local residents to find good-paying jobs without having to leave town,” he elaborated.
Mayor Roddam noted: "Thanks to Bitcoin mining, we are stronger today than ever before. Bitcoin mining companies have invested more than $1 billion in Rockdale. They are among the largest taxpayers in Milan County and our local school district. In addition to tax revenue, these companies also donate to local causes, including scholarships, police and fire departments, youth sports and chambers of commerce. They sponsor community events such as the annual Christmas tree lighting."
Calling on state legislators to recognize the positive impact of Bitcoin mining, Roddam emphasized:
Texas leaders should recognize the benefits of Bitcoin mining. Bitcoin is like a digital oil well that has the potential to drive an economic renaissance in rural Texas - if we allow it to develop.
