Mayor of Miami Wants City to Become Hub of Bitcoin Mining

The mayor of Miami in an interview with Laura Shin says the city should become a “clean energy” bitcoin mining hub.

March 29, 2021 | AtoZ MarketsMiami Mayor Francis Suarez, as part of the Unchained podcast, spoke about the desire to create a center for mining bitcoins in the city. According to him, 90% of miners are mining the first cryptocurrency using “dirty energy” outside the United States.

Part of the problem with Bitcoin is that 90% of mining is not in the US, but in countries with dirty energy. This is the reason why bitcoin mining is considered a dirty business,” said Suarez.

According to the Mayor of Miami, the United States is ready to provide large bitcoin miners with access to renewable energy sources. He is confident that America should mine more digital gold, including for reasons of national security and environmental protection.

We have nuclear energy, which means clean, which is practically unlimited,” added Suarez.

According to the Digiconomist Bitcoin Energy Consumption Index, on March 28, the indicator renewed its all-time high: annual consumption reached 89.9 TWh.

According to analysts, the production of cryptocurrency emits about 60 million tons of carbon dioxide annually , and each $1 billion Bitcoin purchase is equivalent to annual carbon emissions from 1.2 million cars.

As a reminder, at the end of 2020, Suarez said that he was “open to study” the possibility of investing 1% of the reserves of the Miami city ​​budget in bitcoin.

In February, he spoke about the possibility of paying salaries to civil servants in the first cryptocurrency. Miami authorities have voted to explore options for integrating bitcoin into municipal infrastructure.

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