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Transcript/Script((PLAYBOOK SLUG: Crypto Mining in Texas (TV/R)
HEADLINE: The Bitcoin Boom: Rural Texas Town Welcomes Bitcoin Mining
TEASER: In Rockdale, Texas, two bitcoin mining factories use energy-intensive computers to solve complex problems, part of a boom in bitcoin mining operations around the U.S.
PUBLISHED: 6/29/2022 AT 9:30AM
BYLINE: Deana Mitchell
DATELINE: ROCKDALE, Texas
VIDEOGRAPHER: Deana Mitchell
PRODUCER: Deana Mitchell
SCRIPT EDITORS: Michelle Quinn, Jepsen
VIDEO SOURCE (S): AFP, VOA, Riot Blockchain INC, YouTube
PLATFORMS (mark with X): WEB __ TV X RADIO X
TRT: 2:56
VID APPROVED BY: Jepsen
TYPE: TVPKG
EDITOR NOTES: This is one of several stories that will be coming to the desk about crypto currency and will be included in an upcoming The Inside Story episode. ))
((INTRO))
[[A rural town in central Texas is home to the largest bitcoin mining facility in North America, bringing jobs and welcomed vitality into the community. But critics warn the operations are part of a volatile new industry. Deana Mitchell has the story.]]
((Steve Pruitt, Rockdale Citizen))
“My dad worked there 40 years. I worked at the generating plant that was across the street.”
((NARRATOR))
Steve Pruitt and his family were hit hard with the closing of the aluminum smelting factory in 2008 and more recently, the power plant. More than 1,000 jobs were lost in this small Texas town.
But a new industry has arrived in town: crypto mining. Rockdale is now home to two bitcoin mining data centers. Towns across Texas are seeing mining operations set up, especially after China outlawed crypto mining. Interest in the volatile cryptocurrency market has soared in recent years, even as many have lost money trading it.
Rockdale welcomes the crypto miners.
[[FOR RADIO: Here is Rockdale’s outgoing mayor John King]]
((John King, Outgoing Rockdale Mayor))
“We’re open for business and come on in.”
((NARRATOR))
Bitcoin mining is the process in which computers race to solve complicated math problems to verify transactions on the blockchain. But the surge of crypto mining plants around the U.S. is raising of environmental and financial concerns.
Whinstone, based in this town, is the biggest bitcoin mining operation in North America.
Chad Everett Harris, a Whinstone executive, says there are several reasons to be here.
((Chad Everett Harris, Whinstone))
“Texas’ deregulated market, the government itself encourages it, they offer incentives and programs and job training and then the workforce here is just incredible.”
((NARRATOR))
Some locals here admit they aren’t too sure what crypto mining is.
[[FOR RADIO: Gary Smith is a resident of Rockdale]]
((Gary Smith, Rockdale resident))
“I don’t completely understand it 100 percent, and I know a lot of people are the same way.”
((NARRATOR))
But it has brought jobs.
Some hope crypto mining will tide the town over until other industries can get going.
[[FOR RADIO: Again Steve Pruitt, longtime resident of Rockdale]]
((Steve Pruitt, Rockdale resident))
“Until you get another replacement for this hardcore real manufacturing, like an aluminum company smelter, you're never going to see anything close to return to the days that we had enjoyed.”
((NARRATOR))
The mining operators have worked to be good neighbors. Jim Gibson is the town’s economic development director.
((Jim Gibson, Rockdale Economic Development Director))
“They've donated a very large community Christmas tree. They've made donations to the police department for a new drug dog.”
((NARRATOR))
And being known as a bitcoin mining capital has helped the town market itself. Gibson says his phone is ringing with crypto miners interested in setting up shop.
((Jim Gibson, Rockdale Economic Development Director))
“The problem that we get in with that is electricity availability and land and time. It’s anywhere from 18 to 24 months to construct a brand new substation, and most of the people who call here need to be up and running within three months.”
((NARRATOR))
((Mandatory CG: Youtube and Chad Everett Harris/Riot Blockchain INC))
And the immense amount of energy needed to mine crypto currency is an issue. Before a recent heatwave, Whinstone released this video message.
((Chad Everett Harris, Whinstone))
((Mandatory CG: Youtube and Chad Everett Harris/Riot Blockchain INC))
“We will turn our power off. And during that time, that power that we are not using, can be used in the grid itself, so that it can support 200 or 300,000 homes.”
((NARRATOR))
All the crypto activity in town inspired Gibson to take the plunge himself.
((Jim Gibson, Rockdale Economic Development Director))
“I bought a cryptocurrency. I won't say which one. And it has not performed well.”
((NARRATOR))
Meanwhile, Rockdale’s bitcoin mining data centers continue to hum 24 hours a day, seven days a week.
Deana Mitchell for VOA News, Rockdale, Texas
NewsML Media TopicsArts, Culture, Entertainment and Media
NetworkVOA
Location (dateline)ROCKDALE, Texas
BylineDeana Mitchell
Brand / Language ServiceVoice of America - English
