The Chinese government’s intensifying crackdowns on cryptocurrency operations have led miners to start a mass exodus and find a more crypto-friendly place somewhere.
Luckily, Miami Mayor Francis Suarez is preparing the city to become a very appealing and ideal place for cryptominers.
Suarez said he is working with local authorities and electric companies to lower the cost of electricity in the city. He also added: “The fact that we have nuclear power means that it’s very inexpensive power.”
Suarez doesn’t directly invite Chinese miners to set up shop in Miami, but he said that he is making initiatives to make the city, and Flordia as a whole, a great place for cryptominers.
And this big dream, it seems, is quite possible. Based on data by the Bureau of Labor Statistics, Miami’s kilowatt-hour only costs 10.7 cents, compared to the national average of 13.3 cents.
The mayor credits this low cost on Miami’s nuclear power, which is powered by the Turkey Point Nuclear Plant.
But even with the city’s low energy cost, Suarez wants to see an even lower cost that is why he is continuously negotiating with power companies, to make it possible.
Suarez, a crypto advocate
Suarez somehow serves as the “messiah” of cryptominers who are being “hunted” down by their governments because of their crypto operations.
The Republican politician is the opposite representation of politicians from other countries who are either banning, raiding, and pressuring crypto operations.
He is a clear crypto advocate and is actually promoting Miami as the world’s cryptocurrency capital.
“We want to make sure that our city has an opportunity to compete,” he said.
Image courtesy of Cointelegraph News/YouTube