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Will estranged Chinese miners accept Miami’s warm welcome?

Bitcoin

TL;DR Breakdown

  • Miami’s mayor wants his city to be the hub of cryptocurrency mining.
  • Bitcoin mining has grown significantly in the North American jurisdiction.
  • This part of efforts to attract foreign BTC miners,

The best alternative for fuel energy

US cities like Miami have started using nuclear energy as an alternative to fuel energy. Cryptocurrencies are very profitable when the production cost is low. By use of nuclear energy, which is renewable, can make this come to happen.

Why China is against cryptocurrency mining

Virtual currencies like Bitcoin use a lot of fuel energy during mining activities. The Chinese government is currently fighting the greenhouse effect. The massive use of fuel energy is the one that is likely to cause this global warming; this is the main reason why the Chinese government is not at peace with crypto miners.

The 43rd Miami mayor Francis Suarez intends to make Miami home to crypto miners. The mayor is providing the miners with cheap nuclear energy.

Bitcoin mining has grown significantly in the North American jurisdiction. Miami’s mayor wants his city to be the hub of cryptocurrency mining.

In an interview with CNBC, Francis said that he is inviting virtual foreign currency cryptocurrency miners’ data centers in Miami.

Francis believes that enough nuclear energy supply in the city should attract many cryptocurrency miners looking forward to conducting greener mining. Especially when almost everyone is against the use of energy fuel as it leads to environmental pollution.

The 43rd Miami mayor sometimes back weighed in on the issue claiming that the mining of the largest virtual currency was from fuel energy. However, at the time, he said that if the mining activities are shifted to the united state, it will help reduce environmental pollution.

Bringing in more Bitcoin miners

As part of efforts to attract foreign BTC miners, Francis stated that the authorities in the city are reducing the cost of energy. He added that other initiatives like the regulation and taxes are also being sorted out. 

Using nuclear energy, which is cleaner, Miami will be able to compete with upcoming bitcoin centers like Texas and Wyoming.

The cheap and clean energy plan may also expand Miami’s cryptocurrency adoption. The city has goals of becoming a global capital for cryptocurrency.

The city mayor is a great supporter of virtual currencies. A while ago, he disclosed that he owned the two big virtual currencies (BTC and ETH). After the united state congress, he bought the digital assets passed the $1.9 trillion stimulus bill in march. 

Francis’s foreign invitation to the cryptocurrency miners to his city coincides with china’s strict regulation on bitcoin miners. The government of China is looking forward to eradicating all crypto miners. 

News emerged that cryptocurrency miners in Ya’an had been ordered to shut down their mining operations. Sentiments against virtual currencies seemingly prevail among the Beijing authorities; a. conducive environment like the one created in Miami may prove attractive to miners leaving China. Indeed crypto miners in China have let out their plans of vacating the nation.

Moses Kimathi

Moses Kimathi

Nothing else motivates Moses than crypto. He loves writing and following closely events on the king of crypto. In five years time, he is looking forward to riding the crest of Cryptopolitan as the go-to site for critical thinkers and influencers.

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