Fort Worth becomes the first city in the country to mine Bitcoin (BTC)

The first city in the United States to mine Bitcoin (BTC)

As cryptocurrencies become more popular among the general population, authorities around the world are beginning to see major potential for their local economies. It’s a race for those who will make the best use of these new active ingredients which are trying to impose themselves little by little in our consumption patterns.

A city in the state of Texas in the United States has understood this well. Fort Worth, the fifth largest city in Texaswants to take advantage of the enthusiasm around the Bitcoin to mine cryptocurrency.

The city council of the city voted on April 26 a resolution to accept three Bitmain AntMiner S9 machines to mine Bitcoin. These machines will operate 24/7 on a private network to minimize security risks, in an air-conditioned data center at City Hall.

Fort Worth thus becomes the first city in the United States 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 companies and individuals who work in the cryptocurrency industry.

This pilot program launched by the office of the mayor of Fort Worth, 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 this program, the authorities will carry out a full assessment of Bitcoin’s impact and opportunities in Fort Worth. If it is satisfactory, the authorities do not rule out applying it on a larger scale, with more efficient machines.

👉 What is cryptocurrency mining and how does it work?

A city that wants to be “crypto-friendly”

Fort Worth clearly displays its ambitions to become crypto friendly “. Even though the mining machines are relatively small with low impact, they will still position the city as “ friendly for cryptocurrencies, welcoming for the industry and for the responsible companies which contribute to the development of this evolution. Technology. “.

All running costs of 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 to speculate. She plans to keep them..

The mayor of the city reiterated in a press release his intention to become a reference city in terms of technology and in particular 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 are entering this small-scale world while sending a big message: Fort Worth is where the future begins. »

Regarding the ecological 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 vacuum cleaner.

Texas, a state very much in favor of economic liberalism and innovation, is already setting itself up as a new Eldorado for the world of cryptocurrencies. Miners around the world will welcome this new favorable measure for them. Already in October 2021, a US senator pointed out that the energy resources of Texas 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. »

👉 Related – Crusoe Energy raises $505M to mine Bitcoin with excess gas flare

Source: Fort Worth Blog

Newsletter 🍞

Get a crypto news recap every Sunday 👌 And that’s it.

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

About the Author : Timothy Bernines

twitter-soothsayerdata

Passionate about the world of investment, cryptocurrencies have been attracting my attention for a few years now. Having a major interest in the fields of new technologies and Web 3, this is why I naturally wanted to write articles on Cryptoast, in order to contribute to the democratization of this universe in society.
All articles by Timothé Bernines.

Leave a Comment