Washington moves to cut China out of the machines powering US Bitcoin mining

The United States currently leads the world in Bitcoin mining capacity, holding roughly 38% of the global total, but overwhelmingly relies on Chinese manufacturers for the specialized hardware powering these operations. Senators Bill Cassidy and Cynthia Lummis have introduced the Mined in America Act to address this dependence, proposing a certification program, support for domestic manufacturing, and the formalization of the Strategic Bitcoin Reserve. The bill aims to mitigate a perceived national industrial vulnerability by encouraging the use of domestically produced or certified mining equipment. Recent seizures of Chinese-made mining equipment by US authorities have highlighted the supply chain risks, particularly given the industry's growing energy consumption and its connection to the Federal Reserve. The bill's success hinges on the ability to establish a viable domestic hardware manufacturing base and incentivize miners to adopt the “Mined in America” certification, potentially mirroring policies seen in the semiconductor and critical minerals sectors. The outcome could range from a strengthened US position in the Bitcoin mining supply chain to the bill remaining largely symbolic.

(Source：CryptoSlate)