Two Bitcoin Mining Industry Giants Feud Over Rockdale, Texas
As China’s ban on crypto has caused operations to rush to America, Texas finds itself in an exciting situation. Two giant goliaths in Bitcoin mining are locked in a feud as their operations are within a mile of each other.
Most cities across America would kill to be in the situation Rockdale, Texas, is currently enjoying. Once known as Alcoa, the aluminum maker now serves as the location of the Riot Blockchain operation and Bitdeer, an operation based in Singapore, but that found a great home in Rockdale.
At one point, critics believed that Bitdeer would be the goliath in this story; however, Riot Blockchain is now one of the largest publicly traded crypto-mining facilities in the U.S. Now, they both are operating on the same land and Rockdale residents couldn’t be happier.
For Bitdeer, it was a no-brainer moving into a facility that had been built years before. They were able to quickly put everything they needed into place and begin operations immediately. They simply brought their equipment and plugged it in to start mining.
Riot had good reasons as well, but it shares these with Bitdeer. For one, there are some crypto-friendly politicians in the area. Having lawmakers on your side is definitely a plus when progress and reform are up for discussion.
But the main reason is the power grid. Texas has a power grid that utilizes wind and solar energy. Bitcoin mining has even come up with a way to use the natural gas that would typically be burned off as waste if it couldn’t be purposed. Low-cost energy sources are what Bitcoin mining needs, and that’s exactly what Rockdale, Texas has to offer.
With two Bitcoin mining goliaths feuding it out in their town, Rockdale is benefitting in several ways. Of course, just the jobs alone can be enough of a benefit that a small city like Rockdale can appreciate. But there’s so much more than that going on.
Other companies are coming into town and building up the infrastructure because they see the opportunity as well. With more companies coming in, there are even more job opportunities. More people coming from out of town to spend their money coupled with more people in town earning a decent wage equals the best-case scenario for Rockdale.
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