Countries Are Mining Bitcoin with Dirty Energy, Says Miami Mayor

Francis Suarez, the Mayor of Miami, said that countries are mining Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term with dirty energy. He added that more than 90% of Bitcoin mining is being done outside the United States and due to the use of dirty energy, people consider BTC mining as a dirty activity.

During an interview with Laura Shin, Miami Mayor mentioned that the city would love to be a Bitcoin mining hub for two key reasons. Firstly, for national security. Secondly, Miami has clean energy to resolve the issues related to BTC mining.

“We have the ability to supply clean energy to Bitcoin mining centers and data centers. It would be to benefit the crypto community if we did more mining in the US because we produce clear energy so it would change that narrative and that dynamic and also in the future you will see solar and other kinds of clean technology. In my opinion, technology is going to make Bitcoin mining more efficient,” Suarez added.

During an interview with Fox Business in January 2021, Suarez termed Bitcoin as an attractive investment. “If I would have invested in Bitcoin last year, I would have made 300%. So, I would have looked like a genius,” Suarez mentioned in the interview.

China’s Bitcoin Mining Dominance

China accounts for more than 50% of the global Hash Rate Hash Rate A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain Read this Term. Some of the largest Bitcoin mining firms are based in the country. Despite a ban on crypto trading and ICOs, China allowed crypto mining companies to operate in the region. Finance Magnates earlier reported some challenges Chinese BTC miners are facing. Regulatory uncertainty and regional power crisis are making it difficult for some miners to continue operations. Chinese crypto miners are planning to shift to the Nordic region due to the cheap electricity prices in the region.

The crypto mining business is flourishing across different regions. Bitcoin mining firm, Greenidge recently announced its plan to go public through a merger with Support.com.