Sources Contact Advanced Search Tutorials

An Interest In:

Web News this Week

Search Archive

Some of Our Sources

View All Sources

Help Webnuz

Referal links:

May 1, 2022 02:34 pm

The First US City Government to Mine Bitcoin? Fort Worth, Texas

"Fort Worth, Texas, is now the first city government in the United States to mine bitcoin," reports CNBC. "[A]nd in an almost poetic devotion to the initiative, Mayor Mattie Parker oversaw the construction of a small mining farm in City Hall."Three Bitmain Antminer S9 mining rigs will run 24 hours a day, seven days a week, in the climate-controlled information technology wing of Fort Worth City Hall. The city says the miners will be hosted on a private network to minimize the security risk.... Each of the program's three machines will consume the same amount of energy as a household vacuum cleaner, according to city estimates. While the mayor doesn't expect the three miners to be major money makers, the cost of electricity needed for the program is expected to be offset by the value of bitcoin mined.... To make it happen, the city has teamed up with a few key partners, including the Texas Blockchain Council, which donated the three mining rigs (each valued at roughly $600 apiece), and Luxor Technologies, a mining pool, which lets a single miner combine its hashing power with thousands of other miners all over the world to increase their chances of earning bitcoin.... After six months, Fort Worth will re-assess and decide whether to sink real cash into building out a mine. Luxor's VP of business development argues that Fort Worth's move "is setting an example and effectively de-risking both bitcoin mining and bitcoin treasury strategies for every other mayor in the country."

Slashdot

Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..

More About this Source Visit Slashdot