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Fort Worth, Texas Becomes First City Government In The U.S To Mine Bitcoin – Bitcoin Magazine – Bitcoin News, Articles and Expert Insights

  • fort worth, texas has become the first municipal government in the us. uu. to mine bitcoins.
  • the city has accepted a donation from three s9 miners from the texas blockchain council, in partnership with luxor technologies and rhodium enterprises.
  • fort worth will have a six-month trial period as they learn the industry in hopes of becoming a leading hub for mining.

fort worth, texas has officially become the first municipal government in the us. uu. to mine bitcoin today. three bitcoin s9 mining rigs will be implemented to operate 24/7 in a closed environment on a private network operated by the information technology solutions department data center located in city hall fortworth.

bitcoin s9 miners were donated by the bitcoin and blockchain advocacy group, texas blockchain council. the donation has been formally accepted today.

Reading: The first us government mine bitcoin

“with blockchain technology and cryptocurrencies revolutionizing the financial landscape, we want to transform fort worth into a tech-friendly city,” said fort worth mayor mattie parker.

“Today, with the support and partnership of the Texas Blockchain Council, we step into that world on a small scale while sending a big message: Fort Worth is where the future begins,” Parker continued.

The program starts with just the three machines so the city of fort worth can monitor performance, power requirements, and become familiar with the bitcoin mining process over a six-month period.

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fort worth estimates that the individual energy required to extract bitcoins from each of the mining rigs will be equal to that of a household vacuum cleaner, according to the release. this nominal power usage is expected to be offset by profits made from bitcoin mining.

fortworth is positioning itself to operate from within the bitcoin mining industry as a participant to meet the needs of the industry:

“texas is increasingly being recognized as the world leader in bitcoin and blockchain, and fort worth will have a seat at that table. The pioneering spirit is alive and well in Fort Worth, and with this program we will attract dynamic companies that share this vision for the future,” said Robert Sturns, Director of Economic Development for Fort Worth.

lee bratcher, president and co-founder of the texas blockchain council, praised the city for its decision to mine bitcoin and cast a favorable outlook on the future of fortworth.

“by starting small to learn as you go, fort worth is positioning itself to be the bitcoin mining capital of texas. the state as a whole has already established itself as the bitcoin mining capital of the world,” said bratcher.

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bratcher also highlighted the support and advice of luxor technologies and rhodium enterprises, who provided strategic guidance that made this project possible. alex brammer, vice president of business development for luxor, spoke about luxor’s enthusiasm to be part of fortworth’s initial move into bitcoin mining.

“luxor is providing group services and technical consulting to the fort worth team, and we have been impressed with their thoroughness and the speed with which they have been able to get their initial mining operation up and running,” said brammer.

brammer continued to praise the city’s agility and its ability to quickly incorporate the processes necessary to operate a mining facility. Brammer closed her thoughts with a colorful caricature of the mayor and her team saying they “certainly have been helping to redefine ‘moving at the speed of government,’ further cementing fort worth as one of the most innovative cities in the country.” .

Watch the live stream today as Mayor Parker officially deploys the miners here at 2:30 p.m. m. cst.

at 2:45 p.m. m. cst, you can participate in a live twitter space hosted by mayor parker and the texas blockchain council.

See also: Bitcoin Mining: What Is It And How Does It Work? | Bankrate

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