Texas Fort Worth Is The First US City To Start Mining BTC

Texas Fort Worth is the first US City that will start mining BTC and three Bitmain Antminer S9 mining rigs will operate daily outside of the city hall to mine the number one cryptocurrency so let’s read more today in our latest Bitcoin news.

Texas Fort Worth is a crypto-friendly city that will start mining Bitcoin by using three Bitmain Antiminer S9 mining rigs that were donated by the Texas Blockchain Council. The mayor believes that the operational cost can be offset by the mines that will be included in the city’s balance sheet. Mayor Mattie Parker holds quite the optimistic attitude toward the latest move into the crypto industry as she claims that the city will decide whether to invest real cash for the mine after the assessment occuring in six months.

When questioned by the CNBC, about why the city hasn’t chosen other crypto-assets like stocks as an investment instead, Parker responded that Forth Worth hadn’t recieved the donation from the Council, it will remain neutral on holding BTC and despite the proclaimed neutrality, she said that crypto is a big part of the city’s future. Holding BTC on a city’s balance sheet is nto easy as the crypto is still considered an unchartered territory and to make this possible, Parker said the city has to jump thorugh plenty of loops in order to understand the policies. The newly elected mayor revealed that the idea of mining BTC came from speaking to her VC friends that told her 80% of the venture capital is spent on tech and crypto is at the center of that right now. The bold adoption of BTC is non profit-oriented but set an example of municipal governemnt mining BTC and putting the biggest crypto into its balance sheet.

The VP of business at Luxor, Alex Brammer commented that Fort Worth’s move will boost the legitimacy of Bitcoin and will inspire governments to use BTC mining for stabilizing electrical grids in the transition to clean energy.

As earlier reported, Block, formerly known as Square will join the Blockstream-Tesla team and will mine Bitcoin in Texas. BTC mining is seen as an activity that incentivizes the monetization of renewable power production. Tesla’s solar PV array as well its 12-megawatt-hours Megapack will power the mining facility located in Western Texas.