Rockdale: The Tiny Texas Town That's Turning To Bitmining
Rockdale, Texas, was chosen as the site for what some describe as the biggest bitcoin mine in the country. A Chinese company plans on bringing 400 jobs, while investing $500 million in the mine, which is where rows of computer processors solve complex computations and are awarded digital currency. This comes after a series of booms and busts for this town of 5,600 people.
Last year, the power plant that had been limping along closed. Between the smelter and the plant 1,700 jobs were gone. The largest employers in Milam County were now closed, and it lost 30 percent of its tax revenue.
“It made a hit on Rockdale. It hit us hard,” Charles Miles said. “You lose people. You lose income. You lose tax base. You lose a lot.”
Miles owns Miles Styles in downtown Rockdale, a barbershop surrounded by more than a few empty storefronts displaying “for rent” sign — something Miles says has only happened since Alcoa left.
Read more: http://www.tpr.org/post/rockdale-tiny-texas-town-thats-turning-bitmining
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