Fort Worth, Texas, considers mining Bitcoin to become more ‘crypto-friendly’


As cryptocurrencies gain popularity, governments throughout the globe, like the city of Fort Worth in the United States, are beginning to understand the potential for mining to benefit their communities.

In fact, Fort Worth City Council is scheduled to vote on April 26 on a motion to accept three Bitcoin (BTC) mining equipment from the industry advocacy organisation Texas Blockchain Council, reports the Fort Worth Star-Telegram on April 25.

The city would get free mining equipment worth $2,100 as part of a six-month pilot initiative aimed at establishing Fort Worth as “crypto-friendly,” inviting the industry and responsible enterprises to contribute to the growth of this developing technology.

Additional crypto-friendly developments in Fort Worth

The city’s officials are making a concerted effort to position Fort Worth alongside New York and Miami, the latter of which just hosted one of the biggest Bitcoin conferences.

Indeed, the city and its environs are presently home to 1,183 Bitcoin ATMs, according to data gathered by Coin ATM Radar on April 25.

Interestingly, the Fort Worth Zoo also acknowledges cryptocurrency donations in the form of Bitcoin, Ethereum (ETH), ChainLink (LINK), Dogecoin (DOGE), and Polygon (MATIC), among others, to support its “mission of strengthening the bond between humans and the natural world through conservation, education, and recreation.”

According to the website of the Zoo: “Donating bitcoin is a tax-exempt transaction, which means you will not face capital gains tax on the appreciated value and may deduct it from your taxes. As a result, bitcoin gifts are one of the most tax-efficient methods of donating to the Fort Worth Zoo.”

Meanwhile, Bitcoin continues to trade in the red, with its price remaining below the $40,000 mark. It was trading at $38,917 at press time, down 1.61 percent in the last 24 hours and 1.10 percent in the last week, according to CoinMarketCap statistics.

Also Read: The Near Protocol now accepts USN as a stablecoin

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