TARRANT COUNTY (CBSDFW.COM) – Fort Worth is believed to be the first city in the country to start extracting its own Bitcoin from a municipal building.
The City Council unanimously on Tuesday approved the donation of three Bitcoin mining machines from the Texas Blockchain Council and the launch of a pilot program that will last at least six months.
The idea is to position Fort Worth as a potential starting point for businesses in the cryptocurrency industry, and wants to be a “leader and jurisdiction of choice” by adopting companies with a resolution.
The conversation around cryptocurrencies is between entrepreneurs and investors, Mayor Mattie Parker said after the vote, and he believes Fort Worth should be in the conversation.
It’s important for Fort Worth to put our stakes down and say, “What do we want to be when we grow up?” “Right now, we need to be the 12th fastest growing city and a city that attracts and retains the best talent, and we think cryptocurrency will be a big part of that.”
Lee Bratcher of the Texas Blockchain Council said Fort Worth’s proximity to major mining operations in western Texas, as well as its growth and technology-accepting leadership, made it the right city to test its mining operations.
“Fort Worth puts a flag on the ground, saying they want to be a city that embraces innovation and adopts technology,” he said.
Texas has been a draw for technology with the largest mining operation in North America
The Texas legislature also passed bills aimed at expanding the industry in 2021.
During his first year in office, Parker supported more technology businesses in the city. Last week, the city announced that MP Materials had begun construction of a facility that would produce rare earth metals and magnets for use in electric vehicles, drones and other new technologies.
Last week, the mayor of Jackson, Tennessee, said the city would look into producing its own Bitcoin, and Miami, FL has shown great interest in the industry.
‘Put a share in the land’ Fort Worth was the first US city to produce Bitcoin
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