Fort Worth, Texas Becomes the First US City to Begin Bitcoin Mining

Vignesh Karunanidhi
Fort Worth, Texas Becomes the First US City to Begin Bitcoin Mining
Source: The Context Of Things

Fort Worth has officially entered the bitcoin mining business with three mining rigs that are set to run 24/7 in the city hall.

Fort Worth’s entry into the mining business, even if it is on a small scale, marks significant importance to the city. It also earned the title of the first city in the USA to begin bitcoin mining.

The entire initiative was taken by Mayor Mattie Parker, who laid down the foundation for the bitcoin mining farm in the City Hall.

Three bitcoin mining rigs to run 24/7

The city has installed three Bitmain Antminer S9 bitcoin mining rigs in the city hall. The rigs will function 24/7, seven days a week. Fort Worth Mayor stated that the pilot project was started small since the mining process requires professional equipment, technical knowledge, and lots of electricity.

Source: CNBC

The city also stated that the bitcoin mining rugs would only consume the same energy used by a household vacuum cleaner. The entire initiative’s motive is not money-making as of now, and the mining profits now might be enough to knock off the electricity costs.

“For Fort Worth, a lot of people don’t know who we are. We want to change that conversation, and we believe that tech innovation including cryptocurrency is the way we’re going to do that.”

Mayor Mattie Parker

The initiative is Parker’s effort to put Fort Worth on the map. Parker said that she and the team had to go through many policy, understanding, and bureaucratic regulations even though Texas is a crypto-friendly jurisdiction.

“We’re the fastest growing city in the country. There’s so much excitement around North Texas and Fort Worth, in particular. To really keep that energy going, we have to push ourselves differently, and we think cryptocurrency is a huge part of our future economy.”

Mayor Mattie Parker

She also said that Fort Worth will re-assess the entire functioning to determine whether to pool more money to build out a mine.

The entire initiative envisions being ranked as a first mover and normalizing the idea of a city government mining bitcoin. The city also seeks to put the world’s biggest cryptocurrency on its balance sheet.