On Tuesday, Fort Worth, Texas became the first city government in the country to mine Bitcoin after it unanimously adopted a resolution to accept three Bitcoin mine donations.
The city will receive three ASIC Antminer S9 rigs from the industry group Texas Blockchain Council, valued at $2,100. It will set up the machines in Fort Worth City Hall under a pilot program.
According to Fort Worth, the energy consumption of each machine will match that of a vacuum cleaner.
“With blockchain technology and cryptocurrency revolutionizing the financial landscape, we want to transform Fort Worth into a tech-friendly city,” Mayor Mattie Parker said. “Today, with the support and partnership of Texas Blockchain Council, we’re stepping into that world on a small scale while sending a big message—Fort Worth is where the future begins.”
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"The City Council recognizes cryptocurrency is a technology with profound implications and great potential for innovation, as well as a rapidly evolving ecosystem," the resolution said.
In 2017, Fort Worth adopted a Economic Development Strategic Plan for innovation and creativity, which crypto will help promote.
After six months, the city plans to revisit the mining program and assess if it wants to continue.
Texas has become an attractive destination for Bitcoin mining because of low energy prices and a lack of regulatory hurdles. In April, however, the Electric Reliability Council of Texas began studying the impact of Bitcoin mining on the electric grid. There are now months-long delays on when mining projects can hook up to the power grid due to these studies, as ERCOT now requires electric grid approval before projects obtain "approval to energize."