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Miami Mayor Francis Suarez trying to win over Chinese bitcoin miners


MIAMI – Mayor Francis Suarez says Miami’s doors are open to bitcoin miners in China who are currently scrambling to find a new home after Beijing made it clear that their days are numbered. 

Mining is the energy-intensive process which both creates new coins and updates the digital ledger of all transactions of existing tokens. More than half of all miners are currently based in China, but a mass exodus is already underway. Where they’re going, however, isn’t yet clear.

While Suarez told CNBC he hasn’t personally received any calls from Chinese miners, the mayor is looking to patriate this mining diaspora by promoting the city’s essentially unlimited supply of cheap nuclear energy.

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

Rolling out the red carpet

Florida Power and Light workers Juan Madruga (R) and Pehter Rodriguez (L) confer at the Turkey Point Nuclear Reactor Building in Homestead, Florida May 18, 2017.

Rhona Wise | AFP | Getty Images

Across the state of Florida, nuclear energy is the second-biggest power generator, after natural gas. Suarez is already in talks with Florida Power & Light Company to figure out how to further drive down the price of energy.

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

The mayor is also considering a mix of other incentives, like enterprise zones specifically for crypto mining. Enterprise zones are areas in which tax concessions, infrastructure incentives, and scaled-back…



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