Our very own Fort Worth has become the first official city government in the U.S. to mine bitcoin. Now this is trail blazing.
24 hours a day, seven days a week, Three Bitmain Antminer S9 mining rigs will run in the technology wing of City Hall. And what’s smart is the mining rigs will be hosted on a private network to keep the risk of hacking low.
Now just because you mine bitcoin doesn’t mean you start printing millions of dollars – in fact you can lose money. But Fort Worth Mayor, Mattie Parker, sees the value not only in the bitcoin (and future increase in price), but in bringing attention and notoriety to Fort Worth.
Mattie, it’s already working. By becoming the first U.S. city to mine bitcoin, Mayor Parker has already generated millions of dollars in media coverage (read: free advertising) for the major metroplex city.
Not only that, but now the thinking around Fort Worth has started to shift.
It’s not just horses and stock shows, it’s technology, forward thinking, and a crypto-friendly place to be. Cryptocurrency is developing at a rapid place and even despite the Summer of 2022 downturn and bear market, it’s only going to grow bigger.
While the market cap may temporarily fall, the technology and the push for cryptocurrency only continues to surge.
This was a super savvy, all upside, no downside move for Fort Worth. Okay, maybe some critics will complain about the electricity and environment, but that’s a negligible minus when you compare the reward that’s already been reaped.
They’re not even mining that much bitcoin and yet Fort Worth has already won the game. We think they should add some additional rigs and mine other crypto, but Fort Worth is already light years ahead of other bureaucratic city governments thinks to Mayor Mattie Parker’s foresight and vision. This was an A+ marketing move.