Fort Worth, TX

Fort Worth Becomes the First U.S. City To Mine Bitcoin Inside City Hall – Embracing Technology and Cryptocurrency

Toby Hazlewood

A trailblazing initiative for the Texan city
Bitcoin on Texas FlagShutterstock

Immediately after passing a resolution that it would explore Bitcoin mining, the City of Fort Worth took action. Led by Mayor Mattie Taylor, a small Bitcoin mining farm has now been built in City Hall and three mining machines are now running 24 hours per day, 7 days per week as of April 26!

What is Bitcoin mining?

Bitcoin mining is the process that sustains the Bitcoin network of computers that underpin the cryptocurrency. The Bitcoin network is made up of thousands of similar mining rigs as now exist in Fort Worth, and with these being distributed around the world with no single owner, person or country in control, Bitcoin is entirely decentralised.

The mining computers being run in City Hall are estimated to consume the same amount of energy as a vacuum cleaner. The costs of this electricity will be offset by the new Bitcoin that each rig is estimated to generate from the network in return for supporting the network.

Benefits for Fort Worth

It means that over time, the miners should be self-sustaining and may even start to generate money for the city council in the form of Bitcoin which will be added to the city's balance sheet.

Mayor Taylor views this as a first step that could lead to more mining and an enhanced reputation for Fort Worth as a city of innovation at the forefront of technology and cryptocurrency. She commented:

"We’re the fastest growing city in the country. There’s so much excitement around North Texas and Fort Worth, in particular. To really keep that energy going, we have to push ourselves differently, and we think cryptocurrency is a huge part of our future economy"
Woman with Bitcoin glassesShutterstock

Fort Worth joins Miami as a Bitcoin-friendly city

Forth Worth will join a number of other U.S. cities that are embracing the possibilities presented by Bitcoin and cryptocurrency, including Miami, FL.

In 2021 Mayor Francis Suarez of Miami gave his commitment to adopting Bitcoin more widely for the city's benefit. He announced that citizens would be able to pay for services using Bitcoin and that he was investigating using Bitcoin as an investment for some of the city's treasury to protect it against inflation.

Suarez also committed to accepting his own pay in Bitcoin and Florida's Governor Ron DeSantis has also stated that the state will be allowing some government services to be paid for using Bitcoin too.

Forth Worth has claimed its own first - by being the first U.S. city to mine Bitcoin. Such moves of bold innovation will hopefully serve the city and its residents well!

What do you think about Fort Worth starting to mine its own Bitcoin? Are you interested in owning your own Bitcoin or do you have concerns over cryptocurrency? Let me know in the comments section below.

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