Republican senators Bill Cassidy and Cynthia Lummis have introduced a new bill that seeks to bring Bitcoin mining manufacturing back to the U.S. and support the establishment of a Strategic Bitcoin Reserve.
Summary
- Republican senators introduced the Mined in America Act to promote domestic Bitcoin mining hardware and establish a Strategic Bitcoin Reserve.
- Certified mining facilities would be required to phase out foreign-sourced equipment and shift toward U.S.-manufactured hardware.
- U.S. miners faced recent shipment delays and rising scrutiny as tensions with China and security concerns around Bitmain intensified.
On Monday, the two senators introduced the “Mined in America Act,” which will offer a voluntary certification framework for crypto mining facilities and mining pools.
Facilities receiving the certification would be required to phase out mining equipment linked to “foreign adversaries,” and transition toward domestically manufactured hardware.
Additionally, the bill directs the National Institute of Standards and Technology and the Manufacturing Extension Partnership to support domestic firms in developing more secure and energy-efficient crypto mining equipment. It also seeks to codify efforts to establish a Strategic Bitcoin Reserve.
“Digital asset mining is a big part of our economy. We should be doing it here in America,” Cassidy said in a separate statement.
The U.S. is currently the largest contributor by hashrate and accounts for about 38% of the Bitcoin network. However, over the years, the domestic mining sector has faced operational challenges, particularly due to trade tensions with China.
China continues to dominate the mining hardware supply chain, with two of the largest manufacturers, Bitmain and MicroBT, controlling the bulk of global production.
In March, U.S. mining firms were impacted by delays after U.S. customs authorities suspended shipments of mining equipment at ports, citing concerns over radio frequency emissions.
More recently, Senator Elizabeth Warren raised concerns tied to Bitmain, requesting details from the Commerce Department on potential national security risks linked to the company’s hardware.
Source: https://crypto.news/u-s-senators-push-mined-in-america-act-to-cut-reliance-on-chinese-miners/
