Published on November 02, 2022
The City of Fort Worth’s recent foray into the cryptocurrency industry could pay in spades in attracting technology firms here.
Fort Worth was the first U.S. city government to mine Bitcoin. A six-month pilot program launched Aug. 26, 2022, netted $1,019.31, after electricity costs.
Carlo Capua, the City’s chief of strategy and innovation, told the City Council Tuesday that mining Bitcoin was never about the profit, but more about Fort Worth becoming a leader in the cryptocurrency industry and other technology innovation.
Already, companies in California, Massachusetts, Maryland and New Jersey have become interested in Fort Worth after hearing about the City’s recent pilot program, Capua said.
“Fort Worth is not afraid to be an innovative city,” Capua said. “We tallied nearly 753,000,000 media impressions from this project, which has now branded our city as innovative on a global scale. It makes sense that high-tech companies want to do business in a tech-friendly city.”
Capua said Fort Worth will continue its mining program and learning about cryptocurrency, using it as a platform for other innovation occurring in the City.
“The Bitcoin story brings them to our front porch,” Capua said. “Then, we can share other things happening in our city, such as the National Juneteenth Museum and the Texas A&M Research Center.”
The Texas Blockchain Council, a nonprofit industry association that donated the mining machine to Fort Worth, is allowing the City to keep it. It is housed in the City’s data center.
Fort Worth Mayor Mattie Parker was interviewed extensively about the pilot program. The news made it into publications worldwide, including as far away as Malaysia.
Photo: Mayor Mattie Parker poses with the startup Bitcoin mining machines located in the City’s data center.
Get articles like this in your inbox. Subscribe to City News.