Communications of the ACM
Fort Worth Is First U.S. City to Mine Bitcoin
For now, the project isn’t really about profits, nor helping to fix Texas’ temperamental power grid. Instead, it’s about being a first-mover and normalizing the idea of a city government mining bitcoin and putting the world’s bigge
Credit: Lee Bratcher
Fort Worth, TX, has become the first U.S. city to mine bitcoin, through a mining farm based at City Hall.
The city’s three mining rigs will run 24-7 on a private network to minimize security risks.
Mayor Mattie Parker says the operation will be small at first, given its equipment, technical, and electrical requirements; the city estimates each mining rig will consume the same amount of power as a household vacuum cleaner, while the program's electricity costs should be offset by the value of bitcoin mined.
Fort Worth partnered on the project with mining pool Luxor Technologies.
Luxor's Alex Brammer expects the project to strengthen the legitimacy of bitcoin as a strategic asset for city governments.
From CNBC
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