The Texan city of Fort Worth is mining bitcoin in the town hall

On Tuesday, the Fort Worth City Council in Texas approved a motion to allow the city to start mining bitcoin, with the goal of encouraging industry growth and exploring the impact and opportunity of Bitcoin. The Texas Blockchain Council donated three Antminer S9 ASICs to the municipality, which have now been installed in the town hall and are mining for bitcoins.

?ǣThis is a small opportunity for Fort Worth, with potentially a high return on investment ,?ǥ Mayor Mettie Parker said at the meeting, ?ǣWe are a city open to technology innovation and crypto is part of that future.?ǥ

?ǣWe will become the first city in the world to mine for bitcoin, right here at City Hall,?ǥ said Mayor Parker. The motion was passed unanimously.

Pilot

It is a small six-month pilot program designed to explore the potential impact and opportunities of bitcoin. The municipality states that it recognizes the “exponential growth of blockchain and cryptocurrency industries” and wants to encourage the growth of the local sector.

The Texas Blockchain Council, an association of various companies and individuals from the sector, is supplying three Antminer S9 ASICs to the municipality for the pilot. These have now been installed in town hall and are currently mining for bitcoins. Mayor Parker shared images on Twitter of the moment the ASICs were turned on.

The pilot will be evaluated after six months. The program is then assessed, among other things, on the basis of the amount of bitcoins mined, the amount of energy used and on the basis of public opinion.

Marketing

Mayor Parker comes across as enthusiastic, but shows no in-depth or technological knowledge about bitcoin or mining. The plan appears to be primarily an initiative of the Texas Blockchain Council. Since they donate mining equipment, no investment is required and the electricity costs are relatively low with three ASICs. So it costs little, but it does generate publicity and that could well be the main motivation for the municipality.

More municipalities are opting for this strategy. Mayor Suarez of Miami, for example, seizes almost every opportunity to promote his city as a bitcoin hotspot and has managed to attract various investments from the sector to the city. The mayors of Jackson, New York, Rio de Janeiro, Swiss Lugano and also the president of Madeira seem to be on the same page.

Texas

Fort Worth is a fast-growing city with a population of nearly 1 million, making it the fifth largest city in Texas and the twelfth largest in the United States.

For bitcoin miners, Texas is one of the most popular destinations in the world today. According to estimates, about 14% of the global hashrate today comes from the US state.

Texas is traditionally known as an oil state, but it is actually the US leader in renewable energy. On some windy days, up to 40% of all power is said to come from windmills. Texas is also well on its way to becoming the number one in America in the field of solar panels.

However, the fluctuating power production due to weather conditions produces peaks and troughs, resulting in regular power surpluses. Those power surpluses are sold cheaply and are therefore eagerly taken by bitcoin miners. Miners benefit from the higher profitability, but power producers are also more profitable because they have a larger market for the generated power.

In addition, bitcoin miners help strengthen energy infrastructure, says Texas Senator Ted Cruz. By absorbing power when there are surpluses and shutting down equipment when shortages occur, bitcoin mining can help balance the power grid. This was successfully put into practice in February.

Texas is where the future begins. #bitcoin Governor Greg Abbott

Governor Greg Abbott also likes bitcoin and bitcoin mining. Last year, he announced his aim to take a pioneering role in the cryptocurrency field with Texas. Commenting on developments in Fort Worth, he wrote: “Texas is where the future begins. #bitcoin”

For a long time, China was the most popular country for bitcoin miners to settle in, but since the Chinese ban, the United States has taken the lead.

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