The city of Sorradino in Argentina’s Santa Fe Province could start mining cryptocurrencies in a bid to lift the grant needed for upgrading its rail infrastructure. The mayor sees no risk in mining a digital currency that can be quickly sold.

According to local media reports on Sunday (10/04), the city of 6,000 people has purchased six graphics cards and will be buying a mining rig in the close future. According to the mayor of Sorradino, Juan Pio Drovetta, the initiative to mine cryptocurrency is supported by the local community.

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Like many further rural cities in Argentina, Sorradino has been hit hard by the Covid-19 pandemic and the resulting inflation, and is struggling to pay for an remodel to rail infrastructure that was put back up into use for the first period in 33 years last year. The upgrade will as well as goal at the issuance of rail associates connecting Sorradino similar to the main towns nearby.

Drovetta estimates that the monthly revenue generated by the prospective city mining operation is in the region of several hundred united States dollars. The mayor did not specify which coins would be mined in Sorradino.

In his explanation as regards the viable risks of price volatility of crypto assets, he emphasized that though no outright crypto purchases are planned, mining remains a safe investment option:

“We don’t buy cryptocurrencies and point profit upon studious moves where we either win or lose. What we are going to do is generate cryptocurrency , hence we will always win.”

Drovetta with underlined that the city plans to pay taxes from its mining revenues, after conducting the critical research on the matter.

If it starts its mining operations, Sorradino could set a unique precedent for deliver community investment in crypto mining. It is much more common to see the purchasing skill of mining players institutionalized in little towns, as once Bitmain in the Texas city of Rockdale or even the central organization planning to construct a mining town from scratch, as in the renowned Salvador project ” Bitcoin City”.