Trump Wants All Future Bitcoin Mined in US—Is That Even Possible?
Donald Trump, the President-elect, has expressed a desire for all Bitcoin mining to occur in the United States. Currently, U.S. miners account for approximately 40% of the global Bitcoin mining hashrate. Experts suggest that shifting the remaining 60% to the U.S. will be challenging, if not impossible. Matthew Sigel, head of digital assets research at VanEck, indicated that it would require the global shutdown of mining operations outside the U.S. and a substantial increase in domestic operations. Additionally, CJ Burnett from Compass Mining pointed out that the U.S. lacks sufficient electrical infrastructure, mining hardware, and competitive energy costs to support exclusive mining operations. While the U.S. has grown as a mining hub since China's crackdown in 2021, other countries like Kazakhstan, Russia, and Canada remain important players in the mining landscape. The article emphasizes Bitcoin's decentralized nature, indicating that it will continue to be influenced by global economic and regulatory factors.
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