Fort Worth is the world’s first city changing the future
A lawyer and a politician, Texas Governor Greg Abbott, a broad-minded and forward-looking man who has long supported cryptocurrency, makes a bold decision and signs a law that includes cryptocurrencies in the Texas Uniform Commercial Code.
Under this law, cryptocurrency becomes a legal and secure transaction, and the city of Fort Worth becomes the first city government in the United States to mine bitcoins.
A small mining farm was built directly at City Hall under the direction of Mayor Mattie Parker. As of now, three Bitmain Antminer S9 Bitcoin mining rigs will be running 24/7 on the farm in the climate-controlled information technology wing of Fort Worth City Hall.
“This is something completely new for any city,” Parker said. “There’s a lot of politics here that we had to figure out.”
The city had to make a serious effort to make such an important event happen. Fort Worth has teamed up with the Texas Blockchain Council and the Luxor Technologies mining fluff, which allows one miner to pool their processing power with thousands of other miners around the world to increase their chances of getting bitcoins.
“We are the fastest growing city in the country. We think cryptocurrency is a huge part of our future economy,” Parker said.
At the moment, generating a large income is not the main objective of this pilot project according to the mayor. Much more important is popularizing the idea of the city government mining bitcoin and having a cryptocurrency balance sheet.
Of course, there are still questions and first of all, they concern the fact that the process of bitcoin mining requires professional equipment, technical innovations, and a lot of electricity.
However, according to the calculations of the authorities, each of the three machines of the program will consume as much energy as a household vacuum cleaner, and the cost of electricity needed for the program will be compensated by the value of the bitcoin mined.
And while Texas is passing bills and legally developing the cryptocurrency industry, and the governor is actively encouraging mining companies in Texas, you can also become a crypto investor and start earning cryptocurrency now with cloud mining provider Hashmart.io, which has significant benefits.