Fort Worth City of North Central Texas has announced that it will begin mining Bitcoin using Bitmain Antminer S9 donated by Texas Blockchain Council to generate revenue.
The city’s mayor Mattie Parker says that her administration will determine whether to invest real cash in the mine after an assessment in the next six months.
Parker says that the equipment donation has influenced the decision to venture into mining, saying that bitcoin would be a big part of the future compared to stocks.
The mayor also adds that the decision was arrived at after an engagement with her Venture Capital friends, who claim that 80% of the VC funds is going crypto-related technology.
Fort-Worth’s adoption of Bitcoin is reportedly a not-for-profit move. Still, it is expected to set an example of the municipal government mining Bitcoin and adding crypto to the balance sheet.
The Vice President of Luxor, Alex Brammer, notes that the move by Fort Worth will likely inspire other cities to use crypto mining in stabilizing the energy grid and promoting clean energy.