Miami Mayor Luring Crypto Miners With “Very Inexpensive” Nuclear Power
In another step towards making Miami a Bitcoin hub, Mayor Francis Suarez is now pitching a local nuclear power giant to cryptocurrency miners.
Talking to the Wall Street Journal, Suarez said that concerns around Bitcoin’s environmental impact “come from the fact that a lot of the mining was being done in coal-producing countries.”
Meanwhile, nuclear power plants located away from populated areas lowers the opportunity costs for miners.
“We look forward to supporting the continued innovation and growth those companies bring,” said Bill Orlove, spokesman for Florida Power & Light Co., which owns the nuclear plant.
“The fact that we have nuclear power means that it's very inexpensive power,” Suarez had said back in June.
Miami has also launched its own programmable crypto token called MiamiCoin to raise funding and use it for public services. CityCoins allows users to mine the token, which is a “mining-only” launched by “an open-source community of Miami supporters.”
Built on Stack protocol, CityCoins was “designed to unleash Bitcoin’s potential as a programmable base layer. As a result, CityCoins recycles Bitcoin’s PoW to power its on-chain transactions,” said the platform.