Fort Worth is making history as it becomes the first city in the United States to mine Bitcoin.
According to Fort Worth’s website, the pilot program will help the city become a leading center of technology and innovation amid the exponential growth of the blockchain and cryptocurrency industries.
City council members voted on a resolution to encourage the development of the industry. In return, Fort Worth will receive three Bitcoin mining computers worth more than $2,000 each from the Texas Blockchain Council.
According to the city, the S9 Bitcoin mining machines will run around the clock in the climate-controlled Information Technology Solutions Department Data Center located at Fort Worth City Hall.
The machines will be housed on a private network at City Hall to minimize security risks.
“With blockchain technology and cryptocurrency revolutionizing the financial landscape, we want to transform Fort Worth into a tech-friendly city,” said Fort Worth Mayor Mattie Parker, who helped launch the program.
Parker added that the machines “mark Fort Worth’s larger commitment to becoming a leading hub for technology and innovation.”
In an interview with Fox 4 News, Mayor Parker explained that “every major tech company that’s emerging right now and has been on the forefront of what’s next … [is] talking about cryptocurrency.”
“The City of Fort Worth wants to learn from both other private sector partners and for ourselves for the next six months,” she said.
Mayor Parker also addressed the fear of cryptocurrency mining critics who worry about the energy required to power the machines. She stated that the Bitcoin mining computers are the equivalent of a household vacuum cleaner in terms of energy consumption.
However, research suggests such concerns about energy usage may be warranted.
Digiconomist’s Bitcoin Energy Consumption Index estimated that one Bitcoin transaction takes 2,186 kWh to complete, equivalent to approximately 75 days of power for the average U.S. household.
The cryptocurrency mining program will last for six months, after which the City will evaluate its progress.
