Ward Roddam, the Mayor of Rockdale, Texas, has highlighted Bitcoin’s essential function in revitalizing the city’s financial system.
In an Oct. 7 op-ed, Roddam defined that the world is nearing a brand new financial period pushed by what he calls the “digital energy boom,” largely fueled by Bitcoin. He famous that rural communities, together with Rockdale, are already reaping the advantages.
Rockdale as soon as thrived as a producing middle, internet hosting the Alcoa aluminum plant from 1952 till its closure in 2008. The shutdown led to a major decline in tax income and job alternatives, creating funding challenges for public companies.
How Bitcoin helped Rockdale
In recent times, Bitcoin miners like Riot Platforms and Bitdeer have repurposed the previous Alcoa facility for his or her operations. This web site options intensive vitality infrastructure, together with substations and transmission strains, which Bitcoin miners rely upon closely.
Initially, Roddam had reservations concerning the miners. Nonetheless, after years of collaboration with trade leaders, he started to see their optimistic influence. He said:
“As both mayor and a lifelong resident of Rockdale, I learned that Bitcoin miners are deeply invested in the communities where they work. In Rockdale, these companies now employ hundreds of people. They’ve created mid-skill jobs, allowing locals to find well-paying employment without leaving town.”
Roddam emphasised that Bitcoin miners have contributed considerably to the native financial system by creating new jobs. Their investments exceed $1 billion, they usually actively assist neighborhood initiatives by means of donations and sponsorships.
He expressed concern that latest statements from Texas lawmakers may misrepresent Bitcoin’s advantages. Based on Roddam, the miners generate extra native employment than critics counsel.
Wanting forward, he instructed that Riot Platforms’ deliberate growth into Corsicana might replicate Rockdale’s success and additional strengthen the area’s financial system.
Roddam famous that the brand new facility in Corsicana would turn into considered one of Navarro County’s largest employers, probably bringing $1.4 billion in taxable purchases and over $115 million in wages over the subsequent decade.
He concluded:
“Bitcoin is like a digital oil well, poised to fuel the economic revival of rural Texas — if we allow it to grow.”
