Miami Mayor Francis Suárez said CNBC that the doors of their city are open for Chinese bitcoin miners who have recently faced a crackdown by officials in their home country.
“We want to make sure our city has the opportunity to compete,” Suárez told CNBC. “We’re talking to a lot of companies and we’re just saying, ‘Hey, we want you here.’
Suarez, a prominent Bitcoin advocate who has publicly stated that he owns the asset, has been taking deliberate steps to bring Miami one step ahead of other American cities by integrating Bitcoin and other disruptive technologies into city operations. As a result, your city can already be considered a hotbed of the most important cryptocurrency – the Miami website. hosts the Bitcoin white paper, and the city held the largest Bitcoin conference of all time, Bitcoin 2021, earlier this month. Additionally, Miami residents will soon be able to pay taxes with bitcoin.
Suarez now seeks to bring the most critical Bitcoin industry to his city. Although he claims he has not personally received calls from Chinese miners, the mayor wants to tap into Miami’s clean and cheap nuclear power supply.
“The fact that we have nuclear power means that it is very cheap energy,” said the mayor. “We understand how important this is… the miners want to come up with a certain kilowatt-hour price. And we are working with them on that. “
Nuclear power is one of the largest power generators in the state of Florida, second only to natural gas, according to CNBC. And the mayor is looking for ways to further reduce energy costs. According to the report, Suárez “is already in talks with Florida Power & Light Company to find out how to further reduce the price of energy.”
Furthermore, the mayor is also reportedly considering establishing business zones specifically for bitcoin mining. Business activities in these zones would benefit from special tax concessions, infrastructure incentives, and reduced regulations. The hope is that these business zones will further encourage miners to move to Miami and incentivize job creation and investment.
Suarez is targeting Chinese miners due to the delicate situation they are currently facing. Since the Chinese State Council published a statement By declaring that the government would crack down on bitcoin mining, the industry has faced some challenges.
For example, Bitcoin miners in Xinjiang province, which is home to one of the country’s main economic and technological development parks, received a notice last week demanding the closure of their operations. Zhundong Park is home to some of China’s largest bitcoin mining facilities, all powered by fossil fuel energy.
If such bitcoin mining operations were to move to Miami, not only would Bitcoin’s carbon footprint be reduced. reduced due to the nuclear power source of the American city, but it would also take a further step towards further decentralization of bitcoin mining. And while Miami’s ability to host many bitcoin mining farms is yet to be proven, Suárez is optimistic and has been taking important steps to make this move a reality.