Bitcoin miner Bit Digital said it would be leasing space in Miami Beach for its second U.S. location.
The new office will be managed and overseen by Bit Digital’s existing U.S. management team. Headquartered in New York City, Bit Digital has one of the highest hash rates among all U.S. listed Bitcoin miners.
Choosing Miami
Bit Digital spent an increasing amount of time in the Miami area this year, according to Chief Strategy Officer Sam Tabar. After this experience, he said it made sense to establish a permanent presence in the area. This way they could benefit from being “proximate to valued partners and opportunities,” he said.
Bit Digital CEO Bryan Bullett also pointed out the contributions that Miami Mayor Francis Suarez had made. Due to his “forward-thinking initiative,” Miami was becoming “a leading hub in the crypto community.”
Suarez for crypto in Miami
Suarez has been a supporter of cryptocurrencies for some time, but recently he started making moves on behalf of the city. In February, his resolution to implement bitcoin was officially approved by the City of Miami commission. The approved proposal allowed employees to be paid part of their salary in bitcoin, while residents can use it to pay fees and taxes.
Recently, Suarez stated that Bitcoin miners currently under pressure in China are welcome to come to Miami. He also touted Miami’s cheap nuclear energy as an appealing reason for emigrating to the city and the area. Suarez said that he was in talks with Florida Power & Light Company to drive prices down further. Although not from China, this already seems to have attracted Bit Digital at least.
Besides the mayor’s activities, cryptocurrencies have been featured heavily in Miami recently. Earlier this month, the biggest bitcoin conference to take place so far was held in Miami. Additionally, the most expensive real estate transaction to entirely utilize crypto also took place in Miami recently.