Crypto: Fort Worth, Texas becomes first U.S. city to mine bitcoin

Yahoo Finance's David Hollerith reports on the news that one Texas city has decided to start mining its own bitcoin and how it's part of a plan to attract tech talent.

Video transcript

- On top of the potential game changer from Fidelity, Fort Worth, Texas is now the first city in the country to mine Bitcoin. David Hollerith is following this story and much more from the crypto Bahamas conference. Really shabby assignment there, David. What can you tell us about this though, the latest out of Texas.

DAVID Out of Texas today Mayor Parker, the city's, city's mayor has officially plugged in the machines. These are three cryptocurrency mining machines that will be mining cryptocurrency, Bitcoin specifically, from the Department in the city's City Hall. Now this was a unanimously approved motion that was voted on today, and it's largely symbolic in that this is just a three crypto mining rigs set up.

Now, this is a part of Fort Worth's larger decision to, their strategic plan to attract more tech talent. So the idea is doing things like mining Bitcoin and trying it out to see if they can actually earn a profit from it, As a way to open up their, open up their identity to the world stage in terms of being a crypto hotspot.

- All right. Yahoo Finance's own David Hollerith out there in the Bahamas for the crypto conference Crypto Bahamas. We're going to be checking back in with you later on David appreciate it.