Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Miami Mayor Wants to Bring Chinese Bitcoin Miners to Florida

Miami Mayor Wants to Bring Chinese Bitcoin Miners to Florida

Miami Mayor Francis Suarez has a message to Chinese Bitcoin miners facing regulatory crackdown in China: Miami could offer cheap nuclear energy to mine bitcoin.

Miami Mayor Francis Suarez said to CNBC that Miami has open doors to Chinese bitcoin miners who have recently faced a crackdown from officials in their home country.

Suarez commented:

“We want to make sure that our city has an opportunity to compete. We’re talking to a lot of companies and just telling them, ‘Hey, we want you to be here.’”

Suarez, an advocate of Bitcoin who has publicly declared that he holds the asset, has been taking deliberate measures to get Miami one step ahead of other American cities by integrating Bitcoin and other disruptive technologies into the city’s operations. As a result, his city can already be considered a hotbed for the most significant cryptocurrency – Miami’s website hosts the Bitcoin white paper, and the city held the largest Bitcoin conference of all time, Bitcoin 2021, earlier this month.

In addition, Miami residents could soon be able to pay taxes with bitcoin.

Suarez is now seeking to bring Bitcoin’s most critical industry to his city. Although he says he hasn’t personally received calls from Chinese miners, the mayor wants to leverage Miami’s supply of clean, cheap nuclear energy.

“The fact that we have nuclear power means that it’s very inexpensive power. We understand how important this is … miners want to get to a certain kilowatt price per hour. And so we’re working with them on that.”

Nuclear energy is one the state of Florida’s biggest power generators, second only to natural gas, according to CNBC. And the mayor is seeking ways to lower energy costs even more. According to the report, Suarez “is already in talks with Florida Power & Light Company to figure out how to further drive down the price of energy.”

Furthermore, the mayor is reportedly also considering setting up enterprise zones specifically for bitcoin mining. Enterprise activities in such zones would reap the benefits of special tax concessions, infrastructure incentives and scaled-back regulations. The hope is that these enterprise zones will further encourage miners to move to Miami and incentivize the creation of jobs and investment.

Suarez is targeting Chinese miners because of the delicate situation they’re currently facing. Ever since the Chinese State Council released a statement declaring that the government would crackdown on bitcoin mining, the industry has met some challenges.

For instance, Bitcoin miners in the Xinjiang province, which is home to one of the major economic and technological development parks in the country, received a notice last week demanding that their operations be shut down. The Zhundong park houses some of China’s most significant bitcoin mining facilities, all powered by fossil fuel energy.

If such bitcoin mining operations moved to Miami, not only would Bitcoin’s carbon footprint be reduced due to the American city’s nuclear power source, but it would also initiate a step further into a greater decentralization of bitcoin mining. And while Miami’s capacity to house many bitcoin mining farms is not yet proven, Suarez is optimistic and has been taking significant steps for this move to become a reality.

Source: Miami Mayor Wants to Bring Chinese Bitcoin Miners to Florida – Fintechs.fi

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Intel Reports Revenue Beats but Sees 81% Rise in Losses
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
CEO Resigns Amid Controversy Over Relationship with HR Executive
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
Tulsi Gabbard Unveils Evidence Alleging Political Manipulation of Intelligence During Trump Administration
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Trump Announces Coca-Cola to Shift to Cane Sugar in U.S. Production
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Air India Pilot’s Mental Health Records Under Scrutiny
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
Moonshot AI Unveils Kimi K2: A New Open-Source AI Model
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Bitcoin Reaches New Milestone of $116,000
Severe Heatwave Claims 2,300 Lives Across Europe
Declining Beer Consumption Signals Cultural Shift in Germany
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
×