City Council
Report
City Council Meeting: July 9, 2024
Agenda Item: 16.E
1 of 1
To: Mayor and City Council
From: Nikima Newsome, Interim City Clerk, Records and Election Services Department
Subject: Request from Mayor Pro Tem Negrete that the city council direct the City Manager to work with The Proof of Workforce Foundation, a Nonprofit, to pilot a Santa Monica Bitcoin Office program, at no cost, to explore the following initiatives:
1. Bitcoin education for Santa Monica residents, students, businesses and workforce;
2. Identify and facilitate Bitcoin initiatives/partnerships that support Santa Monica’s economic recovery and cultivate economic growth, while attracting a global Bitcoin Conference and tourism industry;
3. Identify remote and local career opportunities for Santa Monica residents and students; and
4. Explore the potential of utilizing stranded city generated renewable energy to explore environmentally neutral bitcoin mining.
These initiatives shall be brought back to the city council by no more than 90 days.
Prepared By: Nikima Newsome, Interim City Clerk
Approved Forwarded to Council
Attachments:
A. Complete Language 16.E.