Three Bitmain Antminer S9 mining rigs will operate 24/7 outside Fort Worth's city hall to mine bitcoin.
. Despite the proclaimed neutrality, she said she sees cryptocurrency as a big part of the future.
However, holding bitcoin on a city’s balance sheet isn’t easy, as the cryptocurrency is still widely considered an “uncharted territory.” To make that possible – Parker admitted – the city has to “jump through hoops” in order to understand the policies. The newly-elected mayor also revealed that the idea of mining bitcoin came from speaking to her VC friends, who told her, “80% of venture capital is essentially spent on tech, and cryptocurrency is at the centre of that right now.”
The city’s bold adoption of BTC is not profit-oriented, but it sets an example of municipal government mining bitcoin and putting the largest cryptocurrency into its balance sheet. Alex Brammer, VP of business development for Luxor, commented that Fort Worth’s move will bolster the legitimacy of bitcoin and potentially inspire governments to use bitcoin mining for stabilizing electrical grids in the transition to clean energy.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
17 restaurants in Dallas-Fort Worth add $1 Ukraine donation to every billMoney goes to World Central Kitchen in Ukraine, an effort led by humanitarian chef José Andrés.
Read more »
American Airlines adding 400 reservations agents in Dallas-Fort Worth to prep for summerThe Fort Worth-based airline is adding thousands of employees across the company to keep up with the expected influx of summer travelers.
Read more »
Fort Worth, Texas to vote on whether to become a bitcoin minerAn industry group has offered the city a donation of three bitcoin mining machines — under the condition that the city uses them.
Read more »
New York investor takes huge distribution campus north of Fort WorthOne of the largest industrial parks up for sale in North Texas has been grabbed by an investor that’s already a major player in the area. The three-building...
Read more »
More industrial buildings on the way in South Fort WorthA Fort Worth developer is planning a three-building business park in South Fort Worth. The buildings are on the way in the Carter Park East industrial complex, ...
Read more »
The city of Fort Worth, Texas votes to become a bitcoin minerThe city council approved a resolution on Tuesday accepting a donation of three bitcoin mining machines.
Read more »