Francis Suarez, the Mayor of Miami, said that countries are mining Bitcoin with dirty energy. He added that more than 90% of Bitcoin mining is being done outside the United States and due to the use of dirty energy, people consider BTC mining as a dirty activity.
During an interview with Laura Shin, Miami Mayor mentioned that the city would love to be a Bitcoin mining hub for two key reasons. Firstly, for national security. Secondly, Miami has clean energy to resolve the issues related to BTC mining.
“We have the ability to supply clean energy to Bitcoin mining centers and data centers. It would be to benefit the crypto community if we did more mining in the US because we produce clear energy so it would change that narrative and that dynamic and also in the future you will see solar and other kinds of clean technology. In my opinion, technology is going to make Bitcoin mining more efficient,” Suarez added.
During an interview with Fox Business in January 2021, Suarez termed Bitcoin as an attractive investment. “If I would have invested in Bitcoin last year, I would have made 300%. So, I would have looked like a genius,” Suarez mentioned in the interview.
China’s Bitcoin Mining Dominance
China accounts for more than 50% of the global hash rate. Some of the largest Bitcoin mining firms are based in the country. Despite a ban on crypto trading and ICOs, China allowed crypto mining companies to operate in the region. FortuneZ earlier reported some challenges Chinese BTC miners are facing. Regulatory uncertainty and regional power crisis are making it difficult for some miners to continue operations. Chinese crypto miners are planning to shift to the Nordic region due to the cheap electricity prices in the region.
The crypto mining business is flourishing across different regions. Bitcoin mining firm, Greenidge recently announced its plan to go public through a merger with Support.com.
(Photo: Francis Suarez)