Miami miners will have access to cheap electricity

18-06-2021

Miami Mayor Francis Suarez plans to give miners access to nuclear power. He notes that he has long been invested in Bitcoin and Ethereum. Suarez attributes his commitment to cryptocurrencies to fears that the $1.9 trillion economic rehabilitation plan approved by the U.S. Senate could trigger inflation. 

According to the official, Miami depends on the Turkey Point nuclear power plant. On average, 1 kW⋅h of energy generated there is valued at $0.10, compared with the state average of $0.13. Right now, the city government is in discussions with Florida Power & Light to reduce rates.

“We understand how important this is. Miners want to reach a certain price per kW⋅h. That’s why we’re working on it,” Suarez states.

The Miami government has also taken some other options to encourage cryptocurrency mining for consideration. For example, there are plans to introduce tax incentives for residents of certain zones set aside for mining.

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