Miami woos Chinese Bitcoin miners, promises cheap nuclear energy
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Miami woos Chinese Bitcoin miners, promises cheap nuclear energy

Saudu Clement
Saudu Clement

While China is not slowing down in its efforts to crush Bitcoin mining and trading, Miami is positioning itself to become the next crypto mining hub. Bitcoin miners who have been ousted from China could find a new home in Miami, according to the city’s mayor Francis Suarez.

During an appearance on CNBC last week, Suarez disclosed that he was working to lower the costs of electricity in order to attract more BTC miners to the region. The mayor was particular about exploring the region’s cheap nuclear energy to “make sure that [the] city has an opportunity to complete.” He said:

We are talking to a lot of companies and just telling them, ‘Hey, we want you to be here.’ The fact that we have nuclear power means that it’s very inexpensive power.

It is point stating that Suarez admitted that current electricity tariffs in Miami are still higher than those in China. However, he has promised to work on reducing the costs as “miners want to get to a certain kilowatt price per hour.” Furthermore, he acknowledged the complexity of such a project, noting that “it’s not something that happens overnight.”

Miami has made a few pro-Bitcoin moves. So, it does not come as a surprise that its mayor is trying to entice Bitcoin miners that might be exiting China. In February, the city okayed Bitcoin salary payments to government employees.