US Senators Propose ‘Mined in America Act’ to Enhance Bitcoin Mining
- The US holds 38% of the global Bitcoin hashrate.
- 97% of mining machines are produced by two companies based in China.
- The proposed legislation aims to boost domestic mining and establish a reserve for Bitcoin.
- Senators are advocating for policies that support local manufacturing of mining equipment.
This legislative effort reflects concerns over the concentration of mining equipment production in China, despite the US’s significant share of the Bitcoin network’s computational power. The ‘Mined in America Act’ seeks to address these disparities and promote local industry growth.
With the US controlling 38% of the Bitcoin hashrate while relying heavily on foreign manufacturing, this initiative could reshape the landscape of Bitcoin mining in America. (Source)
