Fort Worth, Texas will launch a bitcoin mining pilot project using three Bitmain Antminer S9 ASIC miners. They were donated to the city administration by the Texas Blockchain Council.
Fort Worth Mayor Mattie Parker told CNBC that the mining equipment will operate 24/7 in a safe manner.
Parker estimates that each ASIC miner consumes the same amount of electricity as a regular vacuum cleaner. The mayor believes that the use of three miners will not become a large source of income, but the mined bitcoins, which will be included in the balance sheet of the city administration, can offset the operating costs. In six months, the Fort Worth authorities will analyze the results of this pilot project and decide whether it is worth investing in expanding this small mining farm.
Parker said that creating a mining farm required a lot of organizational work and “red tape”. To implement this initiative, the city hall began to cooperate with the Texas Blockchain Council, which provided it with ASIC miners worth about $600 apiece, as well as with the Luxor Technologies mining pool. Parker took office as mayor of Fort Worth last year. She is confident that bitcoin mining and the introduction of technological innovations can “glorify” the city of Fort Worth. The idea to start mining bitcoin came to Parker after talking with her friends who work in the financial industry. According to them, 80% of venture capital is spent mainly on technology, and cryptocurrencies take a central role. Parker is also confident that crypto assets will become an integral part of the economy.
Alex Brammer, vice president of business development at Luxor Technologies, believes the move will strengthen bitcoin’s position 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 to mine bitcoin using excess electricity. In addition, solar and wind energy can be used to mine bitcoin, which would create a large-scale infrastructure, Brammer said.
Last year, the founder of mining company Blockcap, Darin Feinstein, named Texas as the most attractive region for industrial mining, as state legislators are loyal to cryptocurrencies, mining and blockchain.
