Fort Worth is the first city in the U.S. to mine bitcoin, and will run mining rigs out of city hall
Published Tue, Apr 26 202212:01 PM EDTUpdated Tue, Apr 26 20223:10 PM EDT
https://www.cnbc.com/2022/04/26/fort-wor...obox=1651059867
MacKenzie Sigalos@KENZIESIGALOS


Fort Worth is getting into the crypto mining business, albeit in a small way.
Each of the program’s three machines will consume the same amount of energy as a household vacuum cleaner, according to city estimates.

Fort Worth mayor breaks down city’s bitcoin mining pilot project

Fort Worth, Texas, is now the first city government in the United States to mine bitcoin — and 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.

Bitcoin operates on a proof-of-work mining model, meaning that miners around the world run high-powered computers to simultaneously create new bitcoin and to validate transactions. The process requires professional-grade equipment, some technical know-how, and a lot of electricity. That’s why Fort Worth’s pilot project is starting small, according to the mayor.

Fort Worth Mayor Mattie Parker stands in front of the city's bitcoin mine housed at City Hall.
Fort Worth mayor breaks down city’s bitcoin mining pilot project
Lee Bratcher

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.

Beyond adding bitcoin to the city’s balance sheet, Parker — who took office last year and is the city’s first-ever millennial mayor — believes that leaning into bitcoin will go a long way toward putting Fort Worth on the map.-- excerpt, rest at link above --

OK, thanks to Mr. Ed, I think I understand the concept now.

Ya, we understand the basics of how the 'mining' operation works, but are not interested in becoming 'miners' or investors...