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Miami Mayor Tries to Entice China’s Bitcoin Miners — ‘We Want You to Be Here’ Skip to main content

Miami Mayor Tries to Entice China’s Bitcoin Miners — ‘We Want You to Be Here’

Miami’s Mayor Francis Suarez told the press on Thursday that his city was open to bitcoin miners from China who are flocking to find new homes. Suarez says he hasn’t actually talked to any miners from China but said he wants them to know the opportunity is there.

Miami’s Mayor Says City Is Open to Chinese Mining Operations, Touts Florida’s Cheap Nuclear Power

According to an interview, Francis Suarez, the American attorney and 43rd mayor of Miami, is inviting Chinese miners to his city to set up shop if they desire.

Suarez is a fan of the cryptocurrency ecosystem, the decentralized crypto asset bitcoin (BTC), and he has explained that he owns BTC as well. The Miami mayor has also said on a number of occasions that he wants the city of Miami to become a crypto hub for entrepreneurs and builders.

On Thursday, Suarez told CNBC he’s inviting Chinese miners to seek shelter in the region after the crackdown stemming from Beijing. Suarez explained that the region has an abundance of clean and cheap electricity thanks to nuclear energy.

“We want to make sure that our city has an opportunity to compete,” Suarez said during his interview. “We’re talking to a lot of companies and just telling them, ‘Hey, we want you to be here,’” the mayor added.

Suarez made these statements to CNBC from the second floor of the Miami City Hall building which is located near the Turkey Point Nuclear Plant. In fact, Florida houses a great abundance of nuclear power plants all over the state.

“The fact that we have nuclear power means that it’s very inexpensive power,” Suarez stressed during his chat with the press in Miami. According to CNBC’s report, miners in Miami could obtain a rate of 10.7 cents per kilowatt-hour (kWh).

At $0.11 per kWh, a Bitmain Antminer S19 Pro with 110 terahash per second (TH/s) can get around $18.59 per day using current BTC exchange rates. The Microbt Whatsminer M30S++ 112 TH/s gets around $18.50 per day at $0.11 per kWh according to data from asicminervalue.com.

Suarez’s invitation to Chinese miners comes at a time when governments in China’s provinces are banning bitcoin mining operations. The latest crackdown happened today, as Sichuan miners have been instructed to close shop by June 25, 2021.

“We understand how important this is… miners want to reach a certain kilowatt price per hour, and we’re working with them on it,” Suarez told CNBC.

What do you think about Miami’s mayor trying to woo Chinese miners to the city? Let us know what you think about this subject in the comments section below.

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