The beneath is a direct excerpt of Marty’s Bent Issue #1198: “One step closer to bitcoin mining permanent funds” Sign up for the newsletter here.
This is an encouraging signal, the town of Fort Worth, Texas has launched a pilot bitcoin mining mission in their native City Hall. The pilot mission could also be small, with solely three S9s that collectively produce $3.39 value of USD denominated revenue per day — assuming a price of electrical energy of $0.05 kWh and that Braiins OS+ is working on the machines. This might not seem to be something apart from a advertising and marketing stunt, however I feel this is a vital sign that the town of Fort Worth is sending to cities and small cities throughout the United States; bitcoin is one thing you need to be taking significantly and bitcoin mining is one thing it is best to think about.
This appears like step one of many who shall be taken on the trail towards bitcoin everlasting funds popping up across the nation. Permanent funds that leverage stranded power sources or extra power are one thing that your Uncle Marty has been championing since April 2021. Bitcoin gives small cities, cities, counties and entire states with a mechanism that may be leveraged to flip their wasted or underutilized power assets to produce sats flows that may circulate into devoted everlasting funds which have the only real goal of holding mined bitcoin for an prolonged time frame after which the city/metropolis/county/state can start deploying the mined sats to finance requirements and scale back — or doubtlessly eradicate — taxes. It could appear loopy, but it surely additionally may match.
One low hanging fruit that comes to thoughts in your Uncle Marty is orphaned pure gasoline wells that are sitting on land managed by the native authorities. A everlasting fund may very well be spun up by permitting a personal sector miner to are available in and take over the effectively without cost, enable them to use the pure gasoline to produce electrical energy on web site, mine with that electrical energy, and direct a small share of the sats flows to the everlasting fund as a contribution for having the ability to take over the effectively. The native authorities would not even want to undergo the trouble of turning into a miner themselves.
That’s a method to do it. Another manner can be to take what El Salvador is trying to do with their volcano bond and convey it to the municipal degree. Local governments might difficulty muni bonds with the only real intent of elevating funds to purchase mining tools that may be used to reap the benefits of any stranded or wasted power performs with bond holders getting made entire first and the mining operations contributing instantly to the everlasting fund after that.
If I had been a small city, metropolis, or state trying to entice expertise I’d be racing to spin up a bitcoin mining everlasting fund that permits you to provide decrease tax charges and present constituents that you simply are ahead pondering and modern.
Shoutout to the town of Fort Worth and the staff at Luxor (who helped coordinate all of this) for pushing this ball ahead. In time, my bitcoin mining everlasting fund dream will develop into a actuality.