Republican Senators Bill Cassidy and Cynthia Lummis have introduced a new bill that seeks to bring the industrialization of Bitcoin mining back to the United States and support the creation of a strategic Bitcoin reserve.
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- Republican senators introduced the America’s Mining Act to boost domestic bitcoin mining hardware and create a strategic bitcoin reserve.
- Certified mining facilities will be needed to phase out foreign-sourced equipment and shift toward U.S.-manufactured equipment.
- US mining companies have faced shipment delays recently and increased scrutiny as tensions rise with China and security concerns around Bitmain.
On Monday, the two senators introducedMined in American law“, which will provide a voluntary certification framework for cryptocurrency mining facilities and mining pools.
Facilities that receive certification will be required to phase out mining equipment associated with “foreign adversaries” and move toward locally manufactured equipment.
Additionally, the bill directs the National Institute of Standards and Technology and the Manufacturing Extension Partnership to support domestic companies in developing safer, more energy-efficient cryptocurrency mining equipment. It also seeks to legalize efforts to create a strategic Bitcoin reserve.
“Digital asset mining is a huge part of our economy. We should do it right here in America,” Cassidy said in a separate statement. statement.
The United States is currently the largest contributor in terms of hash rate and represents approximately 38% of the Bitcoin network. However, over the years, the local mining sector has faced operational challenges, particularly due to trade Tensions with China.
China still dominates the mining hardware supply chain, with two of the largest manufacturers, Bitmain and Microbit, controlling the bulk of global production.
In March, US mining companies were hit by delays after US customs authorities halted shipments of mining equipment at ports, due to concerns about radio frequency emissions.
And most recently, Senator Elizabeth Warren Raised concerns associated with Bitmain, requesting details from the Commerce Department about potential national security risks associated with the company’s hardware.
