Bitcoin Mining: Low-Cost Nuclear Energy Available For Crypto-Miners Globally

• Mayor Francis Suarez announced that the accessibility of more nuclear power clean energy could adequately serve crypto miners’ needs.
• Mayor Suarez is also tapping the city’s enterprise zones; to bring new mining operations and business incentives.

Mayor Francis Suarez, Miami’s Bitcoin and crypto-friendly, is now establishing the stage to attract Chinese miners by charming them with a low-cost nuclear power supply.

Bitcoin mining restraint in China which was just happened recently; miners have been looking at overseas spots to continue their operations. However, the crypto mining industry is alternating while moving towards renewable energy solutions. Suarez mentions an excellent opportunity here and looks forward to taking steps that promote Bitcoin mining activities in the city.

Talking to CNBC, the Miami Mayor announced that he hasn’t yet received any calls from Chinese miners. Still, the mayor is building his readiness to attract miners by tapping the city’s excess supply of cheap nuclear energy power. Suarez added:

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

Suarez has been a crypto advocate for years. Additionally, with the U.S. government launching massive stimulus measures and drawing more money into the economy, Suarez took the leap of investing in Bitcoin (BTC) and Ethereum (ETH).

Bitcoin Mining – Tapping the City’s Clean Nuclear Energy

Mayor Suarez highlighted Miami’s dependence on nuclear power that serves as a source of clean energy. In Florida, nuclear energy is the second most vital source of energy after natural gas. “The fact that we have nuclear energy means that it’s very inexpensive power,” he stated.

Miami’s mayor announced that he is currently talking with Florida Power & Light Company for the division, energy distribution, and energy price. “We hear how important this is…miners want to get to a certain kilowatt price per hour. And so we’re working with them on that,” said the Miami Mayor.

The mayor is also considering a mix of other incentives considering other enterprise zones for crypto mining. This zone has infrastructure incentives, tax concessions, and scaled-back regulations explicitly.

But Maimi is not alone in its attempt to become a hub for crypto mining operations. The U.S. State of Texas is also becoming an attractive destination for Bitcoin miners due to the wind and solar energy surplus. 

Speaking to CNBC, Brandon Arvanaghi, previously a security engineer at crypto exchange Gemini announced:

“You are going to see a spectacular shift over the coming months. We have governors like Greg Abbott in Texas who are encouraging mining. It is going to become a substantial industry in the United States, which is going to be incredible.”

With Chinese miners unplugging their mining rigs, there’s a notable drop in the Bitcoin hashrate over the last month.

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