By Craig Howell, The Weirton Daily Times
NEW CUMBERLAND — While there has been much attention on the county’s budget in recent weeks, Hancock County commissioners are looking into the possibility of investment in digital currency.
As part of their meeting Thursday, commissioners approved a memorandum of understanding between the Hancock County Commission and Steel Valley Bitcoin LLC.
“This is to let someone act on our behalf to seek business in that industry,” explained Commission President Eron Chek.
Bitcoin is a decentralized cryptocurrency first launched in 2008, with its first use as a form of currency in 2009.
According to the memorandum, Steel Valley Bitcoin is a West Virginia-based consulting firm, with the goal of the agreement for the agency to represent Hancock County at a conference focused on the Bitcoin mining industry “to attract investment and foster economic development opportunities in the county.”
