Tech

Miami’s mayor lures crypto miners with nuclear power

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Miami’s Mayor Francis X Suarez has suggested cryptocurrency miners locate near the Turkey Point nuclear power plant in South Florida. The push is part of his efforts to attract crypto entrepreneurs to the region. The invitation comes at a time when miners are increasingly criticized for their extraordinarily high consumption of often dirty energy.

Florida Power & Light, operator of the nuclear power plant, supports Bitcoin miners in finding cheap land. The mayor is looking for environmental concerns compared to the Wall Street Journal to disperse: The concerns about the environmental friendliness of Bitcoins stem “from the fact that a large part of the mining takes place in coal (electricity-producing) countries”.

Miners use huge amounts of computing power and energy to “mine” cryptocurrencies like Bitcoin. Much of it comes from “dirty” energy sources like coal. Because of the rapidly increasing demand for energy, crypto mining has drawn criticism from governments and experts who are increasingly concerned about its environmental impact.

The Republican Suarez, on the other hand, has been trying for some time to establish South Florida as a location for emerging technology industries, including cryptocurrencies. While Turkey Point is technically out of his remit, Miami’s mayor has de facto become something of a spokesman for crypto issues in the region. In the summer, Suarez launched a similar campaign to Chinese companies after China cracked down on Bitcoin farms.

Suarez’s idea is by no means new. In the USA, nuclear power operators are increasingly discovering cryptocurrency mining as a business area. The energy supplier Talen Energy wants to build a data center campus directly at its Susquehanna Steam Electric Station nuclear power plant in Pennsylvania. And Energy Harbor, the operator of five US nuclear power plants, has signed a five-year supply deal with Standard Power. It offers infrastructure to miners.


(acn)

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