Francis Suarez, the mayor of Miami, says he is now looking to open his city to all the Chinese bitcoin miners that are getting kicked out of their country. Francis Suarez Opens His City to Chinese BTC Miners China has recently stated that it will be banning all crypto mining operations. Beijing has given these companies approximately two months to leave, and many are looking for a new home to set up their mining equipment. While some analysts have said that Texas will be the most likely area, Miami Mayor Suarez wants them to come to his city, citing the cheap energy the region has to offer. In addition, Suarez wants his city to benefit from the technical know-how of these individuals, while also giving Miami a chance to be more competitive in the world of blockchain.
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Francis Suarez, the mayor of Miami, says he is now looking to open his city to all the Chinese bitcoin miners that are getting kicked out of their country.
Francis Suarez Opens His City to Chinese BTC Miners
China has recently stated that it will be banning all crypto mining operations. Beijing has given these companies approximately two months to leave, and many are looking for a new home to set up their mining equipment. While some analysts have said that Texas will be the most likely area, Miami Mayor Suarez wants them to come to his city, citing the cheap energy the region has to offer.
In addition, Suarez wants his city to benefit from the technical know-how of these individuals, while also giving Miami a chance to be more competitive in the world of blockchain. In an interview, Suarez said:
We want to make sure that our city has an opportunity to compete. We are talking to a lot of companies and just telling them, ‘Hey, we want you to be here.
Suarez has proven himself to be one of the most bitcoin-friendly politicians around. He has already stated that he wants bitcoin to become a staple of his city and has promoted plans that would ultimately see city workers paid in the digital currency. He has also expressed interest in allowing residents to utilize bitcoin to pay city taxes and additional utilities.
But one of the big reasons he is so pro-bitcoin is because he believes inflation in the United States is becoming a serious issue. After watching his fellow politicians pass a $1.9 trillion spending bill last year to potentially combat the growing coronavirus pandemic, he is certain that bitcoin can alleviate some of these effects and prove more effective down the road.
Miami is largely powered by nuclear energy, which is a rather inexpensive substitute to coal and standard fossil fuels. He stated that he is presently working with the Florida Power & Light Company as a means of also bringing prices down for natural gas to potentially entice miners to migrate to the area. He says:
The fact that we have nuclear power means that it is very inexpensive power… We understand how important this is… Miners want to get to a certain kilowatt price per hour, and so we are working with them on that.
Ways to Get Them to Arrive
He has also stated that he is looking into providing tax incentives and other rewards in the hopes that mining companies will flood into Florida and create more jobs for residents. He stated:
We were one of the first cities in the world to have a data center, and a mining hub is very similar to a data center… Building a mining facility is similar with building a data center. It is not something that happens overnight.