The Fort Worth City Council in Texas has approved a resolution to encourage the development of cryptocurrencies and the blockchain through Bitcoin (BTC) mining. It is the first US city to take such an initiative.
The first US city to mine Bitcoin (BTC)
As crypto-currencies become more mainstream, authorities around the world are beginning to see major potential for their local economies. It’s a race to see who can make the most of these new assets that are slowly making their way into our consumption patterns.
One city in the US state of Texas has understood this. Fort Worth, the fifth largest city in Texas, wants to take advantage of the Bitcoin craze to mine cryptocurrency.
The city council voted on April 26 to accept three Bitmain AntMiner S9 machines to mine Bitcoin. The machines will operate 24/7 on a private network to minimize security risks, in a climate-controlled data centre at City Hall.
Fort Worth becomes the first city in the US to mine Bitcoin after its city council voted unanimously to approve the measure.
The $2,100 mining machines were donated by the Texas Blockchain Council, a nonprofit association of businesses and individuals working in the cryptocurrency industry.
This pilot program launched by the office of Fort Worth Mayor Mattie Parker and the City of Fort Worth in partnership with the Texas Blockchain Council, will run for 6 months, before seeing if the authorities decide to continue it or not.
At the end of the programme, the authorities will conduct a full evaluation of the impact and opportunities of Bitcoin in Fort Worth. If it is successful, authorities do not rule out implementing it on a larger scale, with more powerful machines.
A city that wants to be “crypto-friendly “
Fort Worth is clearly stating its ambitions to become “crypto-friendly”. Even though the mining machines are relatively small with little impact, they will still help position the city as “crypto-friendly, welcoming to the industry and to responsible businesses that help develop this development. Technology.”.
All the costs of running these machines will be covered by the amount of BTC mined by them. The city promises not to sell the bitcoins that are mined for speculation. It intends to keep them.
The mayor of the city reiterated in a statement his intention to become a reference city in terms of technology and particularly in terms of cryptocurrency:
“With blockchain technology and cryptocurrency revolutionizing the financial landscape, we want to transform Fort Worth into a tech-friendly city. Today, with the support and partnership of the Texas Blockchain Council, we’re entering that world on a small scale while sending a big message: Fort Worth is where the future begins. “
As for the environmental impact of this new measure, it will be very limited. The city estimates that each of the mining machines will consume the same amount of energy as a household hoover.
Texas, a state very much in favour of economic liberalism and innovation, is already setting itself up as a new Eldorado for the cryptocurrency world. Miners from all over the world will welcome this new measure. Already in October 2021, a US senator pointed out that Texas’ energy resources could be an opportunity for Bitcoin.
Lee Bratcher, president and founder of the Texas Blockchain Council, said:
“The state as a whole has already established itself as the Bitcoin mining capital of the world. “
