- Mayor Mattie Parker announced on Tuesday that Fort Worth, Texas, has become the first city to mine Bitcoin in the United States.
- The city of Fort Worth, according to the release, has teamed with the Texas Blockchain Council to launch the Bitcoin mining venture.
The City of Fort Worth Has Begun Mining Bitcoin 24 Hours a Day With Three ASIC Machines
Fort Worth, Texas, has begun mining bitcoin 24 hours a day, seven days a week in the climate-controlled Information Technology Solutions Department Data Center.
This facility is housed at Fort Worth City Hall.
The announcement was made by the local authorities, which included Mayor Mattie Parker.
The representatives from the city of Fort Worth indicated that the miners will be housed privately in order to minimize security issues.
The Bitmain S9 Bitcoin mining equipment were provided by the Texas Blockchain Council, according to Fort Worth.
Bitcoin Mining and Proof-of-Work
Bitcoin runs on a proof-of-work mining process, which implies that miners employ high-powered computers to create and validate transactions at the same time in a distributed network.
It is necessary to use professional-grade equipment, and have some technological know-how, along with a large amount of power.
According to the mayor, this is why the city’s trial effort will be small to begin with.
According to official estimates, each of the three devices in the program consumes the same energy as a vacuum cleaner.
The mayor anticipates that the three miners will be lucrative, but that the cost of electricity will be offset by the value of the Bitcoin that is generated.
The Texas Blockchain Council contributed three ASIC rigs, and if the city “achieves the aims of appropriately analyzing and executing a municipal Bitcoin mining program,” it promises to “review the program.”
Mayor Mattie Parker Believes Embracing Bitcoin will Put Fort Worth on the Map
“For Fort Worth, a lot of people don’t know who we are,” Parker told CNBC. “We want to change that conversation, and we believe that tech innovation including Bitcoin is the way we’re going to do that.”
Mayor Parker was also in charge of the establishment of the Bitcoin mining setup in City Hall, which she personally oversaw.
“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 Bitcoin is a huge part of our future economy,” said Parker.