City of Fort Worth votes in favor of Bitcoin mining program

Fort Worth, Texas has launched a aviator programme to excavation Bitcoin successful concern with the Texas Blockchain Council.

In a Tuesday metropolis assembly meeting, Fort Worth approved a solution to commencement moving 3 Antminer S9 Bitcoin (BTC) miners donated by the Texas Blockchain Council successful the metropolis hallway building. The aviator programme was aimed astatine recognizing “the exponential maturation of the blockchain and cryptocurrency industries” successful summation to encouraging Fort Worth to go a tech leader.

"This is simply a precise tiny accidental for Fort Worth that has large imaginable returns connected investment," said Fort Worth Mayor Mattie Parker astatine the assembly meeting. "We are going to go the archetypal metropolis successful the satellite to excavation Bitcoin present connected tract astatine metropolis hall."

Fort Worth Mayor Mattie Parker addressing the metropolis assembly meeting

According to the city, each BTC miner volition usage the aforesaid magnitude of vigor “as a household vacuum cleaner,” with costs expected to beryllium offset by the mined crypto. Carlo Capua, lawman main of unit for the Fort Worth Mayor and Council Office, told Cointelegraph the 3 rigs were expected to excavation astir 0.06 BTC annually — $2,353 with the terms of Bitcoin $39,215 astatine the clip of publication.

The aviator was designed to beryllium constricted successful some the fig of machines and duration “to larn the imaginable interaction and opportunities for Bitcoin” — the metropolis volition measure the programme aft six months, starting successful October. Capua said the programme would beryllium considered based connected the magnitude of BTC mined, the magnitude of vigor used, and nationalist consciousness of tech and crypto successful Fort Worth:

“In this rapidly evolving industry, amended knowing 1) the improvement of Crypto and aboriginal outlook, 2) what organization voids mightiness beryllium successful the existent laws and regulations, and 3) however authorities and municipalities interact with this technology.”

“By starting tiny to larn arsenic they go, Fort Worth is positioning itself to beryllium the Bitcoin mining superior of Texas,” said Lee Bratcher, president and laminitis of the Texas Blockchain Council. “The authorities arsenic a full has already established itself arsenic the Bitcoin mining superior of the world.”

At the metropolis assembly meeting, Fort Worth resident Thomas Torlincasi suggested tabling the measure, citing situation concerns implicit mining arsenic good arsenic imaginable ineligible issues implicit adopting integer currencies. He likened the programme to a Ponzi strategy and questioned backstage businesses donating materials to beforehand their agenda.

"This is not the city's mission," said Torlincasi. "Many of you judge successful the escaped marketplace and the concern system, spreading bully concern ideas. The metropolis does not request to endorse oregon clasp blockchain, Bitcoin, oregon immoderate benignant of currency that is not United States national currency."

Related: Texas should usage Bitcoin mining to seizure wasted earthy gas: Sen. Ted Cruz

Texas has go a hub for immoderate crypto mining firms pursuing China cracking down connected the practice successful 2021. The authorities is presently location to Blockcap and Riot Blockchain, and has precocious immoderate authorities promoting greater adoption of integer assets.