Fort Worth Becomes First U.S. Municipal Government to Mine Bitcoin – Welcome to the City of Fort Worth

Posted on April 26, 2022

Today, Fort Worth becomes the first city government in the United States to mine Bitcoin. This pilot program, launched by the office of Fort Worth Mayor Mattie Parker and the City of Fort Worth in partnership with the Texas Blockchain Council, recognizes the exponential growth of the blockchain and cryptocurrency industries while advancing Fort Worth’s goal of becoming a leading technology and technology center. innovation.

Starting today, the S9 Bitcoin mining machines will operate 24/7 in the temperature-controlled Information Technology Solutions Department data center located at the City Hall of Fort Worth, where they will be hosted on a private network to minimize security risks. The program is made possible by the donation of three machines from the Texas Blockchain Council, a nonprofit made up of companies and individuals who work in the bitcoin, bitcoin mining, crypto and blockchain industries. The donation was officially accepted by the Fort Worth City Council today.

“With blockchain technology and cryptocurrency revolutionizing the financial landscape, we want to transform Fort Worth into a tech-friendly city,” Parker said. “Today, with the support and partnership of the Texas Blockchain Council, we are stepping into this small-scale world while sending a big message – Fort Worth is where the future begins,” the mayor added. “These small but mighty machines mark Fort Worth’s broader commitment to becoming a premier hub for technology and innovation.”

“The Texas Blockchain Council is thrilled to be part of this first-of-its-kind pilot program as the city of Fort Worth begins mining Bitcoin. By starting small and learning as you go, Fort Worth is positioning itself as the bitcoin mining capital of Texas. The state as a whole has already established itself as the bitcoin mining capital of the world,” said Texas Blockchain Council President and Founder Lee Bratcher. “We are grateful for the support of several of our member companies, particularly Luxor Technologies and Rhodium Enterprises, as they provided strategic advice for this project.”

Bitcoin mining is the process by which new bitcoins are brought into circulation. The “mining” is performed using sophisticated hardware that solves an extremely complex mathematical computational problem. The first computer to find the solution to the problem receives the next block of bitcoins and the process begins again.

By limiting the concentration of the pilot program to three machines, the city achieves the goals of responsible evaluation and execution of a municipal Bitcoin mining program on a manageable scale. After six months, the city will evaluate the program.

Depending on the number and type of machines used, the city estimates that each will consume the same amount of energy as a household vacuum cleaner. The nominal amount of energy needed by the program should be offset by the value of bitcoin mined. Keeping the pilot program small allows the city to learn the potential impact and opportunities for bitcoin.

“Texas is increasingly recognized as the world leader in bitcoin and blockchain, and Fort Worth will have a seat at that table,” said Fort Worth Director of Economic Development Robert Sturns. “The pioneering spirit is alive and well in Fort Worth, and with this program, we will attract dynamic companies that share this vision for the future.”

The program is part of Fort Worth’s broader growth plan, building on recent efforts including partnerships with the planned Texas A&M University System research and innovation center in downtown Fort Worth and Techstars Physical Health Fort Worth Accelerator, and establishing the city’s premier entrepreneurship and innovation. Board Committee to build a next-level entrepreneurship ecosystem.

In the City of Fort Worth’s Strategic Economic Development Plan adopted by the City Council, the city set a goal “A top-level economic development strategy should encourage innovation and creativity, create an attractive environment for talented people and dynamic companies and maintaining a forward-looking organization.

Photo: Fort Worth Mayor Mattie Parker stands amid bitcoin mining machines in the City of Fort Worth Information Technology Solutions Department’s data center, marking the city’s commitment to become a hub of technology and innovation.

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