In an ongoing effort to lure cryptocurrency miners to South Florida, Miami Mayor Francis Suarez is in talks with local energy officials.
Suarez pointed out that Miami offers many clean energy options accessible to investors with an increased concern for environment, society and governance, or ESG. These options include solar power, hydroelectric power and most importantly nuclear power. SuÃ¡rez Noted that environmental concerns about Bitcoin mining “stem from the fact that much of the mining was carried out in coal-producing countries.”
Suarez also pointed out that he was trying to capitalize on a major shift towards mining cryptocurrencies in the United States. This is especially true of wooing minors currently fleeing a widespread crackdown on such activities in China. “The turning point is now”, Suarez noted. “It creates an incredible opportunity for America.”
Part of this investment would require cooperation from the nearby nuclear power plant owned by Florida Power & Light Co., a subsidiary of NextEra Energy Inc. Suarez spoke with Florida Power & Light Co. CEO Eric Silagy about attract crypto businesses to the region. , saying he tried to “bring the people together” with subsidiary NextEra Energy Inc. to examine mining opportunities.
Further discussions with Florida Power & Light officials focused on whether the mining facilities should be located near the nuclear power plant. The challenges include the lack of cheap land to build large warehouses for mining equipment, Suarez noted.
During his tenure, Suarez worked to make Miami a key hub for the emerging crypto economy. Earlier this year, Suarez announced that local authorities would consider integrating Bitcoin, such as paying employees in bitcoin and investing the city’s treasury in bitcoin. Later in the summer, Miami hosted the biggest Bitcoin conference of the year. Additionally, the city announced the launch of a âMiamiCoinâ to help boost the city’s funding.
Miami has also been successful in attracting crypto firms and representation to the region. For example, crypto exchanges eToro and Blockchain.com have offices in South Florida. Additionally, local sports teams have also looked to the crypto brand, with Inter Miami CF jerseys bearing the logo of crypto finance company XBTO and the NBA’s Miami Heat playing home games at FTX Arena.
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