Cryptocurrency was supposed to be the saving grace for rural areas like Jenkins, Kentucky. It was supposed to replace the coal jobs with something more futuristic and bring a little hope back to a place where so much has been lost. I just read about the failed bitcoin mining project at Mohawk Energy, this whole thing has become just another broken dream for the people.
I myself grew up in small town and when you watch your community crumble after a major industry leaves, you’re always looking for the next big thing, the next thing to put your hope in.
That’s exactly what Brandon Smith tried to do. He saw crypto as the new lifeline, but it’s becoming painfully clear that bitcoin mining isn’t the answer for him. You can’t just create some high-tech machinery and expect it to work like a magic fixing all your life problems.
Smith thought retraining coal miners to become repair techs was the ticket, but the job creation just wasn’t there. It’s a warehouse full of computers, not a successful industries.
I get it, I really do. I understand why people like Smith are out there chasing these ideas. When you’re in a place that’s been struggling for decades, when you’ve got nothing, you cling to any hope you possibly can. And I felt bad for him, that whole project of his left him in legal messes and financial ruin.