The mayor of Miami hopes to attract the attention of Chinese miners whose operations have been halted by the local government. He will provide them with nuclear energy that will meet all of their cryptocurrency mining needs.
Miners in China have been compelled to hunt for a new home for their operations after the State Council of the People’s Republic of China decided to prohibit industrial-scale mining of digital currencies in order to protect the environment. At the same time, more than half of all miners in the globe remain on the country’s soil, with no clear indication of when their “mass exodus” will begin.
Meanwhile, the number of crypto enthusiasts in Miami is rapidly growing, and the number of the mayor’s proposals is also increasing. This time, his attention was drawn to Chinese miners who had been forced to halt their operations at home due to harsh government actions.
According to Suarez, Miami has enough nuclear power to meet all of the needs of miners who want to use “green” sources. This is especially true now when the subject of the environment has become even more preoccupying in the thoughts of those who accuse “bitcoin” of ruining our earth every now and then.
Suarez clarified that he hasn’t had any requests from Chinese miners yet, but that he aims to entice and encourage them by providing them with unlimited nuclear power at low pricing. Miami is well supplied with this form of energy thanks to the Turkey Point atomic energy plant, located an hour’s drive from the city. As a result, it is willing to share it with bitcoin entrepreneurs liberally. The average kWh price in this state is 10.7 cents, while the average price in the other state is 13.3 cents.
Suarez is in talks with Florida Power and Light Company in the hopes of decreasing electricity rates. Furthermore, after natural gas, nuclear energy is Florida’s second most popular source of electricity.
Aside from low-cost energy, the mayor’s office will take into account other factors. For example, unique mining business zones will apply to firms and persons whose operations are tied to mining for tax and infrastructure purposes. He believes that this will help Miami create more jobs and attract more investment.
Because of the combination of cheap power and the friendliness of the new asset class, Texas and Wyoming have become attractive destinations for Chinese miners. Will Miami be able to attract some crypto miners?