Mining in Miami

Sun, sand, water and beach bodies come to mind when I think of Miama. Also what comes to mind is scar face, what a great movie that was. I believe that was filmed in Florida. I've always wanted to go and about 5 years ago two of my mates left Australia to go on holiday in America.

I wasn't able to go due to work and well, let's face it my mates were single and my partner was all like Helllll no. You're not going on a boys trip to America which includes Vagas and Miami. So I watched from the side lines as my friends partied it up and had the time of their lives even drinking and sharing stories with Ludacris (photo source - mate)

When he came back I got to hear all the awesome stories, the kind one would expect to hear from a trip around the US.

Miami focuses on Bitcoin mining

On 17 June 2021 Miami Mayor Francis Suarez put out a public statement inviting Chinese Bitcoin miners who are currently being shut down in China to come to Miami to run their operations.

Miami is home to cheap affordable and environmentally clean electricity in the form of nuclear power plants that power the city. Unlike many of the Chinese operations currently relying on coal Miami's power is deemed alot more environmentally friendly as it produces less CO2 emissions.

The Mayor states he hasn't received any calls from Chinese miners but he hopes to patriat many of the mining firms from China which account for 65% of the world's Bitcoin mining hash rate.

Doing so would make Miami the Bitcoin farming centre of the world. We're not clear on if the offer also extends to US Citizenship. If so, we could see many Chinese nationals becoming US Citizens if they take up the offer.

Also in the works is a tax neutral zone Francis is stating he is currently working on creating bitcoin or cryptocurrancy specific zones which enables the crypto friendly politician to enact legislation that will lessen the tax burden on new and emerging industries.

Currently the cost per KW of electricity in Miami is 10.7c which is lower than the countries 13.3c average. When operating mining rigs cost of electricity is a major contributing factor when planning where to establish your mining firm. You can read more and see the interview Francis gave Here

Kazakhstan also on offer

Another city on offer which comes in at 0.03c a KWH is Kazakhstan which is also putting in to become the bitcoin capital of the world and attempting to.lure in Chinese miners.

However, electricity price is traded for political stability in regards to cryptocurrancy. At current the US is leading in providing a safe place for investors to operate mining firms, trade and experiment with the emerging technology. Something a Low electricity price can't compete with.

It would be a challenging environment to invest millions in establishing a mining operation and then a few months later be having to shut down the operation based on politics.

Miami leads at current with a pro crypto Mayor despite its high temperatures requiring additional cooling to maintain the temperature of mining processors it is fast becoming the lucrative destination for miners and investors wanting to back cryptocurrancy ventures.

You can read a bit more of what's occuring Here

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