Mayor Francis Suarez told CNBC that Miami is working to lower the cost of electricity in order to entice bitcoin miners to make the move to Florida.
Suarez is looking to patriate China’s mining diaspora by promoting the city’s essentially unlimited supply of cheap nuclear energy.
Unless Miami is able to cover half the state in solar panels and somehow pay that off dirt-cheap then it simply does not compare to what they can find elsewhere. Hydro-electricity is currently one of the cheapest forms of energy production with few ongoing costs beyond construction. When China allowed it there were miners making many millions from certain dams and their costs were insignificant. Miners have so many other places to move to before they ever consider the vastly expensive US energy prices - other parts of Asia, South America or even massive solar farms within the Middle Easy would make way more sense. It is a publicity gimmick by a Mayor with little knowledge of what is required.