US media: China’s ban on bitcoin mining sites, and owners who go abroad will not be welcomed by local governments in the United States

Bitcoin is priced in U.S. dollars. Francis Suarez, mayor of Miami, Florida, told Fox Business Channel on July 27 that Miami has now become the capital of bitcoin in the world. He hopes to encourage people to move to Miami by creating new technology products and become part of Miami’s technological ecosystem, AP reported. Many of these people he refers to are “mine owners” of bitcoin in China. In mid June, Suarez told CNBC, NBC’s business channel, that Miami was trying to reduce electricity costs, hoping to attract Chinese bitcoin miners to Florida by publicizing the city’s largely unlimited supply of cheap nuclear energy. For a long time, China has been the most concentrated area in the world in terms of hardware and computing power in “mining” cryptocurrency. According to previous data, CNBC estimated that about 65% of the world’s mining activities took place in China last year. As mining consumes a lot of electricity, cheap power supply is one of their first considerations. According to the U.S. Department of labor data in November 2019, Miami’s residential electricity bill is about 10.7 cents per kilowatt hour, which is lower than the national average of 13.3 cents per kilowatt hour. In addition to Miami, Texas, a big energy state, is also an ideal candidate for Chinese bitcoin miners. In 2019, it will generate nearly 8600 megawatt hours of electricity, ranking eighth in the United States. The impact on local energy supply and the environment in the United States is also part of the concern of analysts. In an interview with CNBC in June, Miami mayor Luis Suarez stressed that the city’s nuclear power generation is a clean and cheap energy source. Although 20% of Texas’s electricity is generated by wind, according to 2019 data, natural gas is still the state’s main way of generating electricity. Manning believes that the mine owners’ huge demand for electricity will pose challenges to the local power supply system and the environment. “If you look at the U.S. figures, about 20 percent of electricity comes from nuclear power, and about 50 to 60 percent comes from coal, gas and oil,” he said. So that won’t change with bitcoin. You may be a city dominated by nuclear power, and maybe that won’t be a problem. But it does suck up a lot, a lot of electricity. I think the question is whether you have a grid that’s complex enough for you to rest assured. ”

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