The Mayor of Miami needs to induce Chinese language Bitcoin miners to arrange a enterprise in Florida
Miami Mayor Francis Suarez told CNBC that his city’s doors are open to Chinese bitcoin miners who were recently cracked down on by officials in their home country.
“We want to make sure our city has the ability to keep up,” Suarez told CNBC. “We talk to a lot of companies and just tell them, ‘Hey, we want you here.'”
Suarez, a prominent Bitcoin advocate who has publicly stated that he holds the asset, has taken targeted steps to keep Miami a step ahead of other American cities by incorporating Bitcoin and other disruptive technologies into the city’s operations. As a result, its city can already be seen as the hotbed of the most significant cryptocurrency – Miami’s website is home to the Bitcoin whitepaper, and the city hosted the largest Bitcoin conference ever, Bitcoin 2021 earlier this month. Additionally, Miami residents could soon start taxing Bitcoin pay.
Suarez is now trying to bring Bitcoin’s most critical industry to his city. Despite claiming not to have received any calls from Chinese miners in person, the mayor wants to take advantage of Miami’s supply of clean and cheap nuclear energy.
“The fact that we have nuclear power means that it is very cheap,” said the mayor. “We understand how important this is … miners want to achieve a certain kilowatt price per hour. We’ll work with them on that. “
Nuclear power is one of the largest electricity producers in Florida, according to CNBC, second only to natural gas. And the mayor is looking for ways to reduce energy costs even further. According to the report, Suarez is “already in talks with Florida Power & Light Company to find out how to further reduce energy prices.”
Additionally, the mayor is also reportedly considering setting up corporate zones specifically for Bitcoin mining. Business activities in such zones would benefit from special tax breaks, infrastructure incentives and reduced regulations. The hope is that these corporate zones will further encourage miners to move to Miami and provide incentives for job creation and investment.
Suarez is targeting Chinese miners due to the delicate situation they are currently in. The industry has faced a number of challenges since the Chinese State Council issued a statement stating that the government would take action against Bitcoin mining.
For example, bitcoin miners in Xinjiang Province, which is home to one of the country’s largest economic and technological development parks, received a notice last week asking them to cease operations. Zhundong Park is home to some of China’s most significant bitcoin mining facilities, all of which run on fossil fuels.
Moving such bitcoin mining operations to Miami would not only reduce bitcoin’s carbon footprint due to the American city’s nuclear power source, but it would also take another step towards greater decentralization of bitcoin mining. And while Miami’s ability to house many Bitcoin mining farms has not yet been proven, Suarez is optimistic and has taken significant steps to make that move a reality.