Bitcoin's Role In Revitalizing Rockdale's Economy Highlighted By Mayor

According to Odaily, Ward Roddam, the mayor of Rockdale, Texas, has emphasized the significant role Bitcoin has played in revitalizing the city's economy. In a column published on October 7, Roddam explained that the world is approaching a new economic era, which he termed the 'digital energy boom,' primarily driven by Bitcoin. He noted that rural communities, including Rockdale, have benefited from this shift. Rockdale was once a thriving manufacturing hub, home to an Alcoa aluminum plant from 1952 until its closure in 2008. The shutdown led to a substantial decrease in tax revenue and job opportunities, posing challenges for funding public services. In recent years, Bitcoin mining companies like Riot Platforms and Bitdeer have repurposed the old Alcoa facilities for their operations. These sites possess extensive energy infrastructure, including substations and transmission lines, which are crucial for Bitcoin miners. Initially, Roddam was skeptical of the miners. However, after years of collaboration with industry leaders, he began to recognize their positive impact. He stated, 'As the mayor and a lifelong resident of Rockdale, I have seen Bitcoin miners invest heavily in the communities where they operate. In Rockdale, these companies now employ hundreds of people, creating medium-skilled jobs that allow locals to find well-paying work without leaving the city.' Roddam highlighted that Bitcoin miners have significantly contributed to the local economy by creating new job opportunities. Their investments have exceeded $1 billion, and they actively support community initiatives through donations and sponsorships. He expressed concern that recent statements by Texas legislators might misrepresent the benefits of Bitcoin, arguing that miners have created more local jobs than critics acknowledge. Looking ahead, Roddam believes that Riot Platforms' planned expansion in Corsicana could replicate Rockdale's success and further bolster the region's economy. He pointed out that the new facility in Corsicana is set to become one of Navarro County's largest employers, potentially generating $1.4 billion in taxable purchases and over $115 million in wages over the next decade. He concluded, 'Bitcoin is like a digital oil well, and if we allow it to grow, it will power the economic recovery of rural Texas.'