With Bitcoin (BTC) mining concentration expanding in North America, Miami mayor Francis Suarez is looking to position his city as a hub for crypto mining activity.
Speaking to CNBC on Thursday, Mayor Suarez said he is inviting foreign mining companies to consider establishing data centers in the city.
According to Suarez, Miami’s ample nuclear electricity supply should attract Bitcoin miners looking to adopt clean energy sources for their operations, especially amid the current spotlight on the supposed carbon footprint of crypto mining.
Mayor Suarez has previously weighed in on the issue claiming back in March that 90% of Bitcoin mining was from “dirty energy.”
At the time, the Miami mayor argued that a shift in mining concentration to the United States may help to ease environmental concerns.
As part of efforts to attract overseas Bitcoin miners, Mayor Suarez stated that city officials were looking to reduce the cost of energy in conjunction with the power companies. Other incentives like favorable taxes and minimal regulations are also on the table, according to the Miami mayor.
By using cheap, clean energy and crypto-friendly regulations, Miami may compete with other emerging mining destinations in Texas and Wyoming.
The plan may also further expand Miami’s crypto adoption drive with the city looking to become the Bitcoin and crypto capital of the world.
Mayor Suarez is himself a crypto proponent and has said previously that he owns both Bitcoin and Ether (ETH). As previously reported by Cointelegraph, the Miami mayor bought BTC after Congress passed the $1.9 trillion stimulus bill back in March.
Suarez’s open invitation to overseas miners is also coming at a time of increasing clampdowns on crypto mining by Chinese authorities. On Friday, reports emerged that crypto miners in Ya’an, a city in the Sichuan Province, have been ordered to shut down their operations.
With anti-crypto mining sentiments seemingly prevalent among authorities in Beijing, friendlier climes like Miami may prove attractive to miners leaving China. Indeed, some miners are already considering plans to leave the country with a spokesperson for BTC.top telling Cointelegraph, “Yes, we want to go overseas.”
Sourced from cointelegraph.com.
Written by Osato Avan-Nomayo on 2021-06-18 10:04:08.