Cryptocurrency Mine To Open In Central Texas Town

Barbara Schwarz
August 09, 2018 - 6:31 am
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DALLAS (1080 KRLD) - Chinese based Bitmain Technologies is launching a bitcoin mining center in Rockdale. 

Reports say they'll invest $500 million to convert the old Alcoa smelter which shut down more than four years ago. 

Kara Clore is the executive director of the Rockdale Municipal Development District says bitcoin mining and making blockchain hardware and software take a lot of power.  "When Alcoa was in those building at full capacity, they would use the same amount of electricity as the entire city of Austin."

Bitcoin mining itself involves hundreds of computers and servers trying to solve algorithms, keeping track of transactions of digital currency and much more.  

The new center will bring 400 jobs.  Clore hopes as many as possible will be from her area.  "We have a lot of people that are in this field already that are commuting to the bigger cities because that's where the jobs are.  It's our hope to bring those guys home so they can live and work here."

The plant is scheduled to be up and running by early January 2019.