In this article. After the Alcoa plant closed, Rochdale's economy was in decline, but the advent of bitcoin mining changed everything, bringing jobs and investment.
Bitcoin miners have poured more than $1 billion dollars into Rochdale, paying high taxes and supporting local causes like schools, police and community events.
#Bitcoin #mining is booming across Texas, creating more than 22,000 jobs, and new businesses in cities like Corsicana promise further growth. The small Texas town of Rockdale was an economic disaster in 2008. The Alcoa aluminum smelter, once the town's largest employer, closed due to rising energy costs and new regulations. The smelter, which began operations in 1952, supported Rockdale's economy for decades, providing jobs and tax revenue. When the smelter closed, hundreds of jobs were lost and families were forced to leave. The city's tax base collapsed, hitting public services like schools and parks. Rochdale seemed to have hit rock bottom. When bitcoin came along, Rochdale's fortunes changed. The energy infrastructure left behind by Alcoa was the perfect place to mine bitcoin. The power plants and power lines were still in place, providing cheap and abundant energy for bitcoin miners.
It wasn't long before bitcoin mining companies began their operations, breathing new life into Rockdale. Ward Rodham, the city's mayor, says, I wasn't sure about the miners. Does bitcoin exist?. Does bitcoin exist?.
Like many Texans, he had his doubts. But after several years of working closely with the industry, he became convinced of the benefits of bitcoin mining.
Bitcoin miners came to a #city that had lost its main economic engine and began creating jobs.
Hundreds of people were employed in middle-skill jobs, giving residents the opportunity to earn an income without leaving Rockdale.
Mining companies poured more than $1 billion into the city - a huge amount for a city that had lost so much.
Is this really how people who don't care about rural Texas behave? No, Rodham says.
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