FameEX Hot Topics | Mayor Says Bitcoin is the "Digital Oil" Driving Economic Revival in Rural Texas

Mayor Ward Roddam of Rockdale, Texas, views Bitcoin mining as the driving force behind his town’s resurgence following the closure of its largest employer, Alcoa. Drawing a comparison to Texas’ oil boom, Roddam emphasized how this modern technology is creating jobs, increasing revenue, and funding essential services. With over $1 billion in investments, bitcoin mining has the potential to revitalize not only Rockdale but rural Texas as a whole.

In an article for the Austin American-Statesman, Roddam detailed how Rockdale’s economic prospects had appeared bleak after the 2008 closure of the Alcoa aluminum plant, which had been the town’s primary employer since 1952. “When Alcoa left Rockdale, the economy and tax base halved,” Roddam wrote, highlighting the severe job losses and sharp decline in tax revenue that hampered the town’s ability to fund essential services, including schools and parks. 

However, Roddam credited bitcoin mining for breathing new life into Rockdale by repurposing the energy infrastructure left behind by Alcoa. The industry has had a significant impact on job creation and local revenue, with Roddam explaining how bitcoin miners have become integral to the communities where they operate. “In Rockdale, these companies now employ hundreds of people,” Roddam noted. “They’ve created mid-skill jobs, allowing locals to find well-paying employment without having to leave town.”

Roddam further explained the broader benefits of bitcoin mining, saying, “Thanks to bitcoin mining, we are today stronger than ever.” He shared that bitcoin mining companies have invested over $1 billion in Rockdale and are now among the largest taxpayers in Milam County and the local school district. Beyond their contributions through taxes, these companies support the community by donating to local causes such as scholarships, police and fire departments, youth sports, and the Chamber of Commerce. They also sponsor events like the town’s annual Christmas tree lighting.

In urging state lawmakers to recognize the positive contributions of bitcoin mining, Roddam concluded, “Bitcoin is like a digital oil well, poised to fuel the economic revival of rural Texas—if we allow it to grow.” He emphasized the need for state leaders to understand the transformative impact of bitcoin mining on the local economy.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.