Miami’s mayor looks to woo Chinese bitcoin miners

[Paisleyvn]

Mayor Francis Suarez told CNBC that Miami is working to lower the cost of electricity in order to entice bitcoin miners to make the move to Florida.
Suarez is looking to patriate China’s mining diaspora by promoting the city’s essentially unlimited supply of cheap nuclear energy.

[1714094617]

1714094617

[1714094617]

1714094617

[DapanasFruit]

I salute the mayor of Miami for this move. He must be a visionary of a man and an entrepreneur at heart. Right now, there is a big pressure from China authorities against Bitcoin miners operating on its jurisdiction and the clear message from the China government is for them to do their business elsewhere and not anymore in the country. I am sure that Miami can be a good alternative, but the biggest issue is always the cost and the availability of electricity for the mining operation. In case, Texas has the acceptable solutions for this, then it can be attracting locators all the way from the mainland China. I am happy to see some cities in the USA taking a stand and a chance with the business of Bitcoin.

[patientforzhou]

Lol the power might be cheaper than china, but it's not cheap at all. 10.7 cents/kwh is expensive, and it's super inefficient to cool the servers with hot and humid miami air.
This is all fluff

[mk4]

As if Francis Suarez can't get likeable enough. Quite bold and brave of him to invite miners to Miami knowing that Bitcoin mining is still a really controversial business in the eyes of the masses (because wAsTe oF eLeCtRiCitY🤪).

[cabron]

Why is Suarez no noticed by the IMF while El Salvador President is almost condemned?

An article was published just recently on Cointelegraph telling that miners in Sichuan China are being halted by the government. Surprising that China isn't going to be paranoid today about this switching to environment-friendly. Of course, if everyone seems to be adopting cryptocurrency then China would probably have to be dominant to this kind of money as well. Why would they want miners out of their control?

[Kittygalore]

It's actually a good move but the problem is that these companies won't be hiring local citizens for work in their company, I am sure of that but it will definitely boost the bitcoin economy in the city if this comes into fruition.

[btc78]

Mayor Francis Suarez told CNBC that Miami is working to lower the cost of electricity in order to entice bitcoin miners to make the move to Florida.
Suarez is looking to patriate China’s mining diaspora by promoting the city’s essentially unlimited supply of cheap nuclear energy.

So Miami mayor is really that serious in adopting bitcoin and now even wanted to adopt Miners from china to transfer their operation in Miama .

if the whole US will have this same stand for crypto specially to bitcoin ? then Trump will be a cry baby in the future as calling Bitcoin as scam .

It's actually a good move but the problem is that these companies won't be hiring local citizens for work in their company, I am sure of that but it will definitely boost the bitcoin economy in the city if this comes into fruition.

they will prioritize their people of course .and let them be because the impact is what we need here.

[pakhitheboss]

If a few miners shift to Miami and start their rigs from China then more will follow them. Such encouragement will not only help miners but also help Bitcoin. China has been banning and unbanning Bitcoin for a few years now. It is a possibility that later on they realize what a big mistake they committed when these miners move to other parts of the world.

BTW Qatar and Nigeria have the cheapest electricity in the world.

[Kittygalore]

~

they will prioritize their people of course .and let them be because the impact is what we need here.

I don't think that these Chinese mining companies are going to be looking forward to hiring people that aren't from their country because there will definitely be a language barrier plus it's cheap labor if you hire someone from your country.

[davis196]

Mayor Francis Suarez told CNBC that Miami is working to lower the cost of electricity in order to entice bitcoin miners to make the move to Florida.
Suarez is looking to patriate China’s mining diaspora by promoting the city’s essentially unlimited supply of cheap nuclear energy.

This is just a bold promise made by a politician.
Suarez is major or Miami,not governor of Florida.He can't lower the cost of electricity.
The "city's essentially unlimited supply of nuclear energy" is actually NOT unlimited,because the city and other  cities in Florida are consuming that nuclear energy.No nuclear power plant is going to offer 100% of it's energy to cryptocurrency miners.
I get that he wants to bring crypto investors/miners in Miami,but I'm pessimistic that Miami can compete with China.

[amishmanish]

--snip--
I get that he wants to bring crypto investors/miners in Miami,but I'm pessimistic that Miami can compete with China.

Miami is already famous for the crypto conferences, right. And Miami isn't really competing with China as China is essentially kicking those miners out and they don't have the access to cheap electricity like they had earlier.

The reason this won't workout is because a lot of these Chinese mining farms run with bare minimum manpower which is paid pretty low for the maintenance and running activities. The labor laws and minimum wage requirements will not be acceptable to the so-called Chinese "entrepreneurs" who are accustomed to treating their workers like they own them.

This will work best if the barriers to Chinese miners essentially takes them out of business resulting in decrease of demand for miner hardware and cheaper hardware for American miners. The US miners can then take the mantle and afford to run additional farms.

[Fortify]

Mayor Francis Suarez told CNBC that Miami is working to lower the cost of electricity in order to entice bitcoin miners to make the move to Florida.
Suarez is looking to patriate China’s mining diaspora by promoting the city’s essentially unlimited supply of cheap nuclear energy.

Unless Miami is able to cover half the state in solar panels and somehow pay that off dirt-cheap then it simply does not compare to what they can find elsewhere. Hydro-electricity is currently one of the cheapest forms of energy production with few ongoing costs beyond construction. When China allowed it there were miners making many millions from certain dams and their costs were insignificant. Miners have so many other places to move to before they ever consider the vastly expensive US energy prices - other parts of Asia, South America or even massive solar farms within the Middle Easy would make way more sense. It is a publicity gimmick by a Mayor with little knowledge of what is required.

[clint25n]

This is a good first step, if they want to lobby the Chinese government to return to using bitcoin. And this is a success for the mayor of Miami. If so, convince the Chinese government to reuse bitcoin as a digital currency.

[worle1bm]

Mayor Francis Suarez told CNBC that Miami is working to lower the cost of electricity in order to entice bitcoin miners to make the move to Florida.
Suarez is looking to patriate China’s mining diaspora by promoting the city’s essentially unlimited supply of cheap nuclear energy.

Miami mayor Francis Suarez is Crypto enthusiast and we all know about it.With China outrage against btc the miners are looking for other optins to migrate but they are looking for the cheap electricity option and Francis has invited them to Miami with their rig setup and promised them to lower the electricity cost from 10.7 cents per Kwh and in talks with Florida Power and Light company for the same but it's not sure whether it will be possible.He has stated that they can use unlimited nuclear energy sources for mining process which are renewable and energy efficient without any pollution.Moreover the one thing I liked about his statement was opening seperate industry zone for Bitcoin mining with other incentive like taxation relaxation, infrastructural incentives and other regulations.But despite all these he has not got any calls from miners because there is reason for that.The miners have been looking for some other options aslo as advised by Mining Rigs company to move to Texas or Kazakhstan with cheap electricity option and crypto friendly environment.But still we can see some miners accepting his proposal.

[joniboini]

-snip-

Dude, maybe you want to fix your typing since your post is really hard to read, at least for me. Anyway, the electricity price has been mentioned above and there are a lot of users who claim that it is not cheap enough. If that's true, I doubt the majority of the miners would move there, even if they're protected by the law.

[Vaskiy]

That's a bold move from the Miami mayor Suarez. When politicians are in a state of thinking about further plans on cryptocurrency usage, he has jumped in to establish it. I find him having a clear plan of implementation.

He has taken into consideration each and everything associated with the mining process. The electricity, pollution and overall his plan is not just to create mining hubs. He's much into making it a data center for all sort of professional activities associated with the cryptospace.

[yazher]

Mayor Francis Suarez told CNBC that Miami is working to lower the cost of electricity in order to entice bitcoin miners to make the move to Florida.
Suarez is looking to patriate China’s mining diaspora by promoting the city’s essentially unlimited supply of cheap nuclear energy.

That's a good initiative for the Mayor and the people who support bitcoins in his area will support him as well. this is a win-win situation for the Mayor himself. It will surely attract lots of Miners in their country when this is implemented in the future. I wonder if they can also apply to the other Altcoin miners, if they do, then the city will be filled with miners from all around the world because saving some capital is also in one of the major cities in the world.

[Kemarit]

Yeah, I would say that this is really a bold move coming from the mayor of a major US cities. No need to tell that the Mayor is pro-bitcoin, wonder if he himself holds some personally.

But I doubt that the can offer a very cheap electricity that will make some Chinese miners to move in the US though. As I have said, the cost of living in Miami is high, so I don't know how can the mayor problem electricity that cheap. And it should be abundant source of electricity. The mayor should be lauded though for his efforts.

[meanwords]

Mayor Francis Suarez told CNBC that Miami is working to lower the cost of electricity in order to entice bitcoin miners to make the move to Florida.
Suarez is looking to patriate China’s mining diaspora by promoting the city’s essentially unlimited supply of cheap nuclear energy.

How is the electricity cheap there though? It's more or less 30% more than the cost of electricity there than in china. Not to mention the labor cost + the additional factors such as the humidity and the location of the miner. Still, this publicity stunt shows that he is going to support Bitcoin for a long time which is good.

[Dave1]

Mayor Francis Suarez told CNBC that Miami is working to lower the cost of electricity in order to entice bitcoin miners to make the move to Florida.
Suarez is looking to patriate China’s mining diaspora by promoting the city’s essentially unlimited supply of cheap nuclear energy.

$10.x cents per kilowatt hour? that's not attractive for Chinese miners to simply move to Miami. It's too expensive so it's tough to break even if that is the cost of electricity.

If the Mayor is really that serious, he has to work some bargain with so that the miners might consider expatriating. But who wouldn't love the Mayor though, his pro-bitcoin and pro-crypto stance should be copy by other states.