HomeMy WebLinkAboutResolution 5581-06-2022 A Resolution
NO. 5581-06-2022
ACCEPTING THE DONATION OF ONE BITCOIN MINING MACHINE
FROM THE TEXAS BLOCKCHAIN COUNCIL
WHEREAS, City Council approved Resolution 5556-04-2022 to encourage the growth
of blockchain and cryptocurrency technologies and accept a donation of three Bitcoin
Antminer mining machines from the Texas Blockchain Council, a nonprofit industry
association;
WHEREAS,the Texas Blockchain Council has offered the City a conditional donation
of a new s 19 Bitcoin mining machine that is more energy efficient than the three Antminer
mining machines—it can produce approximately three times the amount of Bitcoin at 900
watts less than the three Antminer mining machines combined;
WHEREAS,the new s19 Bitcoin mining machine will require less service than the
three Antminer mining machines;
WHEREAS,the three Antminer mining machines will revert back to the Texas
Blockchain Council in accordance with Resolution 5556-04-2022; and
WHEREAS,the City Council continues to desire for the City to be a local government
sector leader and jurisdiction of choice in the blockchain and cryptocurrency industry by
welcoming and encouraging the growth of blockchain and cryptocurrency companies in Fort
Worth and by demonstrating how newer technologies can result in greater energy and
productive efficiency.
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS,AS FOLLOWS:
1. That the City Council hereby accepts the donation of one s19 Bitcoin mining
machine from the Texas Blockchain Council with a total value of approximately $9,000,with
said donation conditioned upon the City's use of the machine for mining Bitcoin and with such
machine to automatically revert to the Texas Blockchain Council, without further formal action
required by either party, if the City permanently terminates its use of the machine for mining
Bitcoin.
2. That the City Council hereby directs City staff to perform all actions necessary to
continue its pilot Bitcoin mining operation of a limited duration to be revisited at or around the
six-month mark.
3. That any and all prior actions of the City on matters covered by this Resolution
are hereby ratified.
Adopted this 14ffi day of June 2022. `
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By: Jannette S.Goodall(Jun 16,2022 16:52 CDT) _`T
Jannette Goodall, City Secretary
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City of Fort Worth, Texas
Mayor and Council Communication
DATE: 06/14/22 M&C FILE NUMBER: M&C 22-0421
LOG NAME: 02BITCOINDONATION-UPDATE
SUBJECT
(ALL)Adopt Attached Resolutions and Accept the Donation of One Bitcoin Mining Machine from the Texas Blockchain Council with an
Approximate Value of$9,000.00 to Replace the Three Current Bitcoin Antminer Mining Machines as a More Energy Efficient Method of Mining
Bitcoin
RECOMMENDATION:
It is recommended that the City Council:
1. Accept a donation of one Bitcoin Mining Machine from the Texas Blockchain Council with an approximate value of$9,000.00 to replace the
three current Bitcoin Antminer Mining Machines as a more energy efficient method of mining Bitcoin;and
2. Adopt the attached Resolution.
DISCUSSION:
The Texas Blockchain Council has offered the City a conditional donation of a new s19 Bitcoin mining machine to be a part of the City's
cryptocurrency pilot program.This machine will replace the three previously donated machines from the Texas Blockchain Council.Should the City
choose to terminate the pilot program or if the machine ceases to be used,the s19 will be returned to the Texas Blockchain Council.
The s19 Bitcoin mining machine is more energy efficient than the three Antminer mining machines—it can produce approximately three times the
amount of Bitcoin at 900 watts less than the three Antminer mining machines combined.Additionally,the new s19 Bitcoin mining machine will
require less service than the three Antminer mining machines.
This project will serve ALL COUNCIL DISTRICTS.
A Form 1295 is not required because:This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION/CERTIFICATION:
The Director of Finance certifies that approval of these recommendations will have no material effect on City funds.
Submitted for Cily Manager's Office b L Manya Shorr 7707
Originating Business Unit Head: Manya Shorr 7707
Additional Information Contact: Carlo Capua 6363
Expedited