Miami Mayor, Francis Suarez, stated that more Bitcoin mining should be done in the US because of national security concerns. He added that US has a high supply of clean energy to help in mining.
The mayor of Miami, Francis Suarez, went on record to state that the United States needs to venture more into bitcoin mining to preserve national security because only 10% of Bitcoin mining is done in the USA. The mayor was offering his remarks to a cryptocurrency journalist, Laura Shin, where he stated that with an increase in external mining activities, the environment was bound to suffer from the use of dirty energy.
He also stated that countries that accounted for the majority of mining activities used dirty energy. However since the USA has high reserves of clean energy, increasing Bitcoin mining there would help in environmental conservation. He also added that by using clean energy in Bitcoin mining would be beneficial to the entire crypto market.
How is the mayor planning create a mining Hub in Miami?
Francis Suarez has been one of the major supporters of Bitcoin in the political field. He has taken a number of measures to make sure that Miami is able to accommodate Bitcoin mining activities.
On February this year, Francis Suarez was one of the people who led to a hike in Bitcoin prices. This was after his announcement on how the Miami municipal staff can receive payment in Bitcoin and the city would accept tax payments made in Bitcoin. He also added further that the city council was making plans to invest funds in the cryptocurrency market to earn yields.
Besides this, Suarez has also made sure that the business environment of Miami is attractive to crypto investors. To this end, he is making it attractive for technological firms, mining companies and crypto investors to come to Miami and establish firms there. By doing this, Suarez will make sure that he achieved his goal of making Miami a crypto hub in the US.
Miami is also working towards creating a regulatory environment for the crypto market. They are planning to do this by creating a business space for crypto exchanges and crypto regulatory firms that will make investing in cryptocurrencies even more attractive to investors. By doing this, Miami will be joining other states such as New York and Wyoming, who have taken great strides in boosting the crypto market.