The BTC industrial mining facility in the small Texas town of Rockdale will enable this small town to live and provide a better standard of living for its residents. At least that’s what the reports suggest, so let’s find out more in today’s bitcoin news.
There are two big Bitcoin miners looking for cheaper power in the small Texas town, and both BitDeer and Riot Blockchain operate their data centers at a former aluminum smelter in the city, the Texas town of Rockdale. The city’s aluminum smelter was the largest in the world until the company that operated it began shutdown in 2008. According to Lee Bratcher, president of the Texas Blockchain Council, from the time Alcoa left until the miners came back, the company’s energy capacity company was wasted and set up shop.
Despite being a small rural town of 5000 people, Rockdale still has the perks of having many industrial BTC miners looking like crypto-friendly politicians, having a large chunk of land and the right infrastructure to reposition themselves, cheap electricity of course. . Rockdale Mayor John King described the relationship between local network operators like the Electrical Reliability Council of Texas and miners that is mutually beneficial. He points out that miners who use electricity are wasted and can also shut them down temporarily if electricity is needed elsewhere:
“Miners undertake to buy a certain amount of electricity and sell it on the market [value] and make a profit. You have a two or three cent contract … and you can sell it for $ 9 per kilowatt hour. “
Riot tripled its BTC production this year, and the company now estimates the facility is producing over 500 BTC per month in its small-town facility. At current prices, the amount mined at 100,000 mining rigs corresponds to 30 million US dollars per month. Texas lawmakers are pushing for an even deeper expansion of the state’s BTC mining, with Senator Ted Cruz saying mining is one means of extracting the natural gas the state is currently using. Cruz even argues that natural gas is exploding in West Texas because there is no transmission equipment to get natural gas to where it is needed and normally used:
“Use this power to mine Bitcoin. The beauty of it is that the moment you do it, you are doing a lot for the environment because instead of igniting natural gas, you are putting it to good use. “
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