Mayor Francis Suarez says Miami’s doors are open to bitcoin miners in China who are scrambling to find a new home after Beijing made it clear that their days are numbered.
More than half of all miners are currently based in China, but a mass exodus is already underway.
The mayor is looking to promote the city’s essentially unlimited supply of cheap nuclear energy. Suarez is already in talks with Florida Power & Light Company to figure out how to further drive down the price of energy. He is also considering a mix of other incentives, like enterprise zones specifically for crypto mining, with the hope that these breaks will encourage investment and create jobs.
Miami is not alone in its ambitions to capture the attention of bitcoin miners, thanks to their cheap energy mix and crypto-friendly U.S. states and other hot mining destinations like Texas and Wyoming are also fast becoming hot mining hotspots in the U.K. and Wyoming. But even Suarez admits that a lot needs to be done first and that it needs to happen before the city is ready to meet the needs of miners in North America, he said.