The Texas city of Fort Worth will engage in Bitcoin mining – Bits Media

City of Fort Worth, Texas, will launch a pilot project for Bitcoin mining using three Bitmain Antminer S9 ASIC miners. They were donated to the city administration by the Texas Blockchain Council..

Fort Worth Mayor Matty Parker (Mattie Parker) reported in a conversation with CNBC channel, what mining equipment will work around the clock, in compliance with safety requirements.

Parker estimates, each ASIC miner consumes the same amount of electricity, same as a regular vacuum cleaner. The mayor thinks, that using three miners will not be a large source of income, however, the mined bitcoins, which will be included in the balance sheet of the city administration, can offset operating costs. In six months, Fort Worth officials will review the results of this pilot project and make a decision, is it worth investing in expanding this small mining farm?.

Parker told, that creating a mining farm required a lot of organizational work and “bureaucratic red tape”. To implement this initiative, the city hall began to collaborate with the Texas Blockchain Council, who provided her with ASIC miners worth about $600 for pike, as well as with the Luxor Technologies mining pool.

Parker took office as mayor of Fort Worth last year.. She is sure, that Bitcoin mining and technological innovation could “glorify” the city of Fort Worth. Parker got the idea to start mining Bitcoin after talking with her friends., working in the financial industry. According to them, 80% venture capital is spent mainly on technology, and cryptocurrencies play a central role. Parker is also sure, that crypto assets will become an integral part of the economy.

Vice President of Business Development at Luxor Technologies Alex Brammer (Alex Brammer) considers, that this step will strengthen the position of Bitcoin as a strategic asset. It is likely, that in the future the authorities of other cities will follow the example of the mayor of Fort Worth and also begin mining Bitcoin, using excess electricity. Besides, Solar and wind energy can be used to mine Bitcoin, which would allow the creation of large-scale infrastructure, Brummer said.

Last year, the founder of the mining company Blockcap, Darin Feinstein, named Texas as the most attractive region for industrial mining., since state legislators are loyal to cryptocurrencies, mining and blockchain.