BusinessMiamioffers

Miami offers its clean nuclear power to bitcoin miners as it aims to become crypto capital of the world

Miami Mayor Francis Suarez, who is looking to position the city as a hub for crypto mining activity, announced this week that he is inviting foreign mining companies to establish data centers in the city.

In an interview with CNBC, Suarez said that Miami’s ample nuclear electricity supply should attract bitcoin miners looking to adopt clean energy sources for their operations, especially now there is a spotlight on the supposed carbon footprint of crypto mining.

He added that the city’s officials were looking to reduce the cost of energy in conjunction with the power companies. They were also discussing other incentives like favorable taxes and minimal regulations, Suarez said.




Also on rt.com
Tunnel vision? Boom Bust explores Elon Musk’s idea to solve traffic congestion in Miami



According to the mayor, who is a crypto proponent and owns both bitcoin and ether, Miami may compete with other emerging mining destinations in Texas and Wyoming. Officials may also further expand Miami’s crypto adoption drive as the city looks to become the bitcoin and crypto capital of the world.

Suarez’s invitation to overseas miners comes at a time of increasing clampdowns on the industry, particularly in China. Media reported on Friday that crypto miners in Ya’an, a city in the Sichuan Province, have been ordered to shut down their operations.

For more stories on economy & finance visit RT’s business section

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close