Bitcoin miners break new ground in Texas, a state hailed as the new cryptocurrency capital – The Washington Post

Bitcoin miners break new ground in Texas, a state hailed as the new cryptocurrency capital – The Washington Post

How much the crypto explosion has helped Rockdale’s economy is open to debate. For 50 years, Rockdale, with a population of about 5,600, was a company town, with hundreds of jobs at Alcoa’s nearby coal mine and aluminum smelter. Its economic success even earned it the nickname “The Town Where It Rains Money” in a 1952 article by the Saturday Evening Post. But in 2008, Alcoa closed the mine and smelter, eliminating 1,200 jobs, and in 2018 the firm’s power plant was shut down, adding to those job losses.