- Fort Worth will vote on a bill intended to strengthen the bitcoin mining industry of Texas tomorrow.
- The Texas Blockchain Council is set to donate three bitcoin miners to the City Council.
- The donation will signal the start of a 6-month trial period in which the City Council of Fort Worth will begin mining bitcoin.
Fort Worth, Texas is set to vote on a bill that encourages bitcoin mining technology and sees the City Council receive three bitcoin miners donated from the Texas Blockchain Council, per a report from MSN.
The bill seeks to position Fort Worth as “crypto-friendly” and “welcoming to the industry.” The city also aims to lure in “businesses contributing to the development of this evolving technology,” according to the report.
The three bitcoin miners being donated are valued at $2,100 each and will be given to the City Council completely free for a six-month pilot period. The machines being donated were not specified in the report, but should the pilot program expire, the bitcoin miners are to be returned to the Texas Blockchain Council.
Earlier this year on February 8, the Texas Blockchain Council officially endorsed pro-bitcoin Governor Greg Abott of Texas for reelection.
Lee Bratcher, President of the Texas Blockchain Council said “Governor Abott understands that over regulation and increased taxation can cripple a growing economy. With his leadership, Texas can continue to be a destination for expanding companies, growing families, and 21st century innovation,” in the video release of the endorsement.
Bratcher continued to say “Governor Abott understands that the future of technology revolves around bitcoin and blockchain,” during the endorsement.
Governor Abbot has been a vocal supporter of the bitcoin industry. On June 4, 2021 Abbot signed a law creating a “master plan” for Texas to take advantage of the “booming” industry, as he stated in his video release.
Other legislators from Texas have also established clear lines of support for bitcoin such as Pete Sessions, a 12-term republican who stated “Bitcoin is aligned with American incentives and will strengthen the dollar.”
Senator Ted Cruz from Texas also announced a bitcoin purchase of up to $50,000 in a financial disclosure. Cruz has also been highly critical of legislation that seeks to damage the bitcoin mining industry.