The Fort Worth City Council in Texas has approved a resolution to encourage the development of cryptocurrencies and blockchain through Bitcoin (BTC) mining. It is the first U.S. city to take such an initiative.
The first U.S. city to mine Bitcoin (BTC)
As crypto-currencies become democratized among the general population, authorities around the world are beginning to see major potential for their local economies. It’s a race to see who can best leverage these new assets that are slowly making their way into our consumption patterns.
One city in the state of Texas in the United States 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 center at City Hall.
Fort Worth thus becomes the first city in the U.S. to mine Bitcoin after its city council voted unanimously to approve the measure.
The $2,100 worth of mining machines were donated by the Texas Blockchain Council, a nonprofit made up of businesses and individuals who work 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 program, officials will conduct a full evaluation of the impact and opportunities of Bitcoin in Fort Worth. If it is satisfactory, the 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 a low impact, they will still 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 will be mined for speculation. It intends to keep them.
The city’s mayor reiterated in a statement his intention to become a reference city in technology and particularly in 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 are entering this world on a small scale while sending a big message that 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 home vacuum cleaner.
Texas, a state that is very adept at economic liberalism and innovation, is already setting itself up as a new Eldorado for the cryptocurrency world. Miners around the world will welcome this new measure favorable to them. Already in October 2021, a U.S. 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.”
