‘Putting a stake in the ground,’ Fort Worth first US city to mine Bitcoin
By Web Staff
Click here for updates on this story
TARRANT COUNTY, Texas (KTVT) — Fort Worth is believed to be the first city in the country to start mining its own Bitcoin, from inside city hall.
The City Council unanimously approved the donation Tuesday of three Bitcoin mining machines from the Texas Blockchain Council, and the beginning of a pilot program that will last at least six months.
The idea is aimed at positioning Fort Worth as a potential landing spot for businesses in the cryptocurrency industry, with a resolution stating it wants to be a “leader and jurisdiction of choice” by welcoming companies.
The conversation around crypto currencies is happening among entrepreneurs and investors, Mayor Mattie Parker said after the vote, and she believes Fort Worth should be in that conversation.
“It’s important for Fort Worth to put our stake in the ground, and say ‘what do we want to be when we grow up.’ And right now we’re the 12th largest city, fastest growing, and we have to be a city that’s attracting and retaining top talent and we think crypto currency’s going to be a big piece of that,” she said.
Lee Bratcher with the Texas Blockchain Council, said Fort Worth’s location near large mining operations in west Texas, as well as its growth and leadership that’s accepting of the technology, made it the right city to try its own mining operation.
“Fort Worth is planting a flag in the ground, saying they want to be a city that embraces innovation and embraces technology,” he said.
Texas has been a draw for the technology, with the largest mining operation in North America located in Rockdale.
The Texas legislature also passed bills in 2021 aimed at expanding the industry.
Parker has been supportive of more tech ventures in the city during her first year in office. Last week the city celebrated MP Materials starting construction on a facility to produce rare earth metals and magnets, to be used in electric vehicles, drones and other new technologies.
Last week the mayor of Jackson, Tennessee reported his city would look into mining its own Bitcoin, and Miami, FL, has been heavily courting the industry.
Please note: This content carries a strict local market embargo. If you share the same market as the contributor of this article, you may not use it on any platform.
