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The city of Fort Worth, Texas, has launched a Bitcoin mining pilot program in partnership with the Texas Blockchain Council. “We are going to become the first city in the world to mine Bitcoin here on site at city hall," said Fort Worth Mayor Mattie Parker.
At a city council meeting on Tuesday, Fort Worth approved a resolution to run three Antminer S9 Bitcoin (BTC) miners donated by the Texas Blockchain Council at City Hall. The pilot program aims to recognize “the exponential growth of the blockchain and cryptocurrency industries” in addition to encouraging Fort Worth to become a tech leader, Cointelegraph reports.
“This is a very small opportunity for Fort Worth that has big possible returns on investment,” said Fort Worth Mayor Mattie Parker at the council meeting. “We are going to become the first city in the world to mine Bitcoin here on site at city hall.”
According to the city, each BTC miner will use the same amount of energy as a household vacuum cleaner, with costs expected to be offset by the mined crypto. Carlo Capua, deputy chief of staff for the Fort Worth Mayor and Council Office, told Cointelegraph the three rigs were expected to mine roughly 0.06 BTC annually - $2,353, with the price of Bitcoin at $39,215, at the time of writing.
“To learn the potential impact and opportunities for Bitcoin,” the city will evaluate the program after six months, starting in October.
“In this rapidly evolving industry, better understanding 1) the evolution of Crypto and future outlook, 2) what institutional voids might exist in the current laws and regulations, and 3) how government and municipalities interact with this technology.”
“By starting small to learn as they go, Fort Worth is positioning itself to be the Bitcoin mining capital of Texas,” said Lee Bratcher, president and founder of the Texas Blockchain Council. “The state as a whole has already established itself as the Bitcoin mining capital of the world.”
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.