U.S. city of Fort Worth ponders mining Bitcoin as it strives to become ‘crypto-friendly’

5 months ago
2 mins read

As cryptocurrencies become more widespread, authorities around the world are starting to recognize the potential their mining could have for their communities, including the city of Fort Worth in the United States.

Indeed, the City Council of the fifth-largest city in the U.S. state of Texas and one of the fastest-growing cities in the country is set to vote on April 26 on a resolution to accept three Bitcoin (BTC) mining machines from the industry advocacy group Texas Blockchain Council, Fort Worth Star-Telegram reported on April 25.

Specifically, the mining machines worth $2,100 which the city would get for free are part of a six-month pilot program that would position Fort Worth as “crypto-friendly, welcoming to the industry and to those responsible businesses contributing to the development of this evolving technology.”

Other crypto-friendly advances in Fort Worth

The city’s authorities are investing genuine effort into putting Fort Worth on the map of crypto-friendly communities, joining New York and Miami, the latter of which was recently the place of one of the largest conferences focusing on Bitcoin.

As a matter of fact, the city and its surrounding areas are currently the home of 1,183 Bitcoin ATMs where you can buy or sell the flagship digital asset, according to the data retrieved from Coin ATM Radar on April 25.

Interestingly, the Fort Worth Zoo also accepts donations in cryptocurrency, including Bitcoin, Ethereum (ETH), ChainLink (LINK), Dogecoin (DOGE), Polygon (MATIC), and many others, to help its “mission of strengthening the bond between humans and the environment through conservation, education and recreation.”

According to the Zoo’s website:

“Donating cryptocurrency is a non-taxable event, meaning you do not owe capital gains tax on the appreciated amount and can deduct it on your taxes. This makes cryptocurrency donations one of the most tax-efficient ways to support Fort Worth Zoo.”

Meanwhile, Bitcoin is trading in the red, as its price remains under the $40,000 level. At press time, it stood at $38,917, down 1.61% over 24 hours and 1.10% across the week, as per CoinMarketCap data.

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Ana Nicenko

Ana Nicenko has a plethora of knowledge and experience as a journalist covering the cryptocurrency and blockchain industries, having written for a variety of projects and organizations. Additionally, Ana has a master's degree in English Language and Literature. At Finbold, she reports news on the digital assets sector.