Cryptocurrency News: Bitcoin Mining Shift Is a Big Win for the US, Especially Miami

Cryptocurrency News: Bitcoin Mining Shift Is a Big Win for the US, Especially Miami

City of Miami Mayor, Francis Suarez sees “an enormous opportunity for our country to create high-paying tech manufacturing jobs,” in China’s efforts to remove cryptocurrency mining from its country.

In May 2021, the Chinese government began enacting regulations in an effort to stymy the bitcoin mining ventures within China. These operations accounted for almost three-quarters of global bitcoin mining. By July, official Chinese bitcoin mining operations had been, in effect, wiped out. The smaller, rural mining activities are slowly being shut down as well. So where do those miners and that mining activity go now? The mayor echoes recent analysts in seeing the US as posied to reap the technological and financial gains.

Mayor Suarez has long been a proponent of accepting, using, and investing with cryptocurrency. He has pushed for, promoted, assisted, and created many crytpo-based opportunities within Miami, seeking to make the city crypto-friendly. He tweeted about a recent article from The Economist regarding the shift, America is the big winner of China’s crypto crackdown. It refers to research done by the Cambridge Centre for Alternative Finance (CCAF), you can also review its Bitcoin Electricity Consumption Index.

Mayor Suarez also points out that mining operations in the US can be far more eco-friendly than the ones that existed in China. If done properly, creating a mining system that is actually carbon neutral may go a long way toward quieting the opposition to cryptocurrency based on its environmental impact.

Considering Crypto? Partner with an Expert

If news like this has you thinking about bitcoin or cryptocurrency opportunities, it’s best to partner with a knowledgeable team. At Gazitua, we fully embrace crypto and can help you make that transition. Our Strategic Advisor on Cryptocurrency, Gianni D’Alerta, has been working with blockchain and cryptocurrency since 2013. His expertise, along with the firm's 10-year history specializing in procurement in Miami-Dade County, the municipalities of the greater Miami area, and Miami-Dade Public Schools can provide a unique advantage for your business.

Previous ArticleNext Article
Luis is an experienced procurement lawyer and Miami lobbyist serving elected officials, businesses, international clients, and trade associations. He regularly appears before local and state government in order to advance complex objectives for clients against competing interests. He has weathered various competitive processes in Florida including Home Rule Charter Amendments, Recalls, Local, State and Federal campaigns.