The mayor highlighted that how Miami can efficiently generate an adequate clean nuclear supply to power the Bitcoin mining process in the city.
Miami’s Mayor Francis Suarez had offered the city’s clean nuclear power to Chinese BTC miners to stimulate the cryptocurrency operations in the region. Francis Suarez also made clear that he intends to make Miami the next vital hotspot of cryptocurrency undertakings and is actively pursuing the idea to attract international miners by offering the city’s clean nuclear power supply for mining activities.
The mayor had also remarked how the mining activities have been unethically consuming the power sources by calling it a process of dirty mining. Furthermore, he emphasized how Miami can expand its crypto network by offering the city decent nuclear power to encourage mining via clean energy sources.
Miami’s Mayor Francis Suarez Sends a Global Invitation to Invite Bitcoin Miners
The mayor highlighted that how Miami can efficiently generate an adequate clean nuclear supply to power the Bitcoin mining process in the city. In an interview with CNBC, Suarez also stated that he is currently inviting all the foreign mining corporations to consider establishing their headquarters in Miami to conduct day-to-day crypto transactions.
Suarez also made clear that Miami’s efficient clean nuclear supply has the potential to attract many international miners in the region. He further stated how the BTC miners, in general, should seek to adopt clean energy resources to mine BTC because there is excessive carbon utilization in general mining processes which has to be regulated and controlled.
Miami to Offer Minimal Tax and Cost Regulations to Attract Overseas Crypto Miners
To stimulate crypto activity in the city, Miami will also invest maximum efforts to offer minimum tax regulations as an incentive to persuade BTC miners. Suarez also announced that the city is looking forward to reducing the cost of energy required to conduct mining by establishing essential contacts with the power corporations.
With new cost-friendly and resourceful mining proposals, Miami is seeking to become the next emerging crypto destination. Suarez also plans to execute many proposals to make Miami the next crypto capital of the world. The mayor also is actively involved in crypto transactions and has been actively investing in both BTC and Ethereum. According to the official reports of the Cointelegraph, the mayor is said to have acquired US$ 1.9 million worth of Bitcoin in March.
The decision of Miami to offer a cost-friendly power source to crypto miners has surfaced at a time when China had been putting a lid on all crypto operations in their country. The proposed plan of Miami may prove beneficial to miners who have been leaving China and are in search of more energy-efficient ideas to conduct cryptocurrency mining.
Juhi Mirza is an archaeological major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallise technical facts/multiple perspectives into rivetting stories makes her an accessible finance writer. She tends to her archaeological pursuits and loves unearthing the past over the weekends.