Fort Worth Pioneering US City-Led Bitcoin Mining Trial

[waybesuricata]

Fort Worth, Texas, is looking to gain a first-mover advantage as it sets up three computers to mine bitcoin in the information wing of city hall.

The Fort Worth City Council, led by Mayor Mattie Parker, unanimously decided to approve a resolution on April 26 to mine bitcoin and add it to the city’s balance sheet. The city undertook this project in collaboration with the Texas Blockchain Council and mining pool Luxor Technologies to establish itself as a technology hub, following Mayor Parker’s interaction with venture capitalists invested in the cryptocurrency space.

Initially, the project will not prioritize profits but will allow the city to enjoy being a pioneer in the mining of bitcoin. Talking about why he voted yes, District 3 Councilman Michael D. Crain said, “Fort Worth has always been a leader in many industries, including technology. With the wider global acceptance of cryptocurrency, this move shows that Fort-Worth is once again on the cutting-edge of innovation and encouragement of creative tools to spur economic development.”

Robert Sturn, the city’s economic development director, said, “This initiative demonstrates that Fort Worth, as a city, is serious about attracting innovative, tech-focused businesses.”

“This is outside the box for any government, right? Usually, things move at a snail’s pace, and in Fort Worth, we want to do things differently, and kind of elbow our way into the room,” the city’s first millennial mayor said.

Source: https://beincrypto.com/fort-worth-pioneering-us-city-led-bitcoin-mining-trial/