US Senate Leaders Propose Mined in America Act to Boost Crypto Mining

The Mined in America Act, proposed by Senate leaders Cynthia Lummis and Bill Cassidy, aims to bolster domestic crypto mining and establish a Strategic Bitcoin Reserve. The bill creates a voluntary certification program for US-based crypto mining operations and related infrastructure.

Under the measure, the Department of Commerce would stand up a 'Mined in America' certification for cryptocurrency mining facilities and mining pools. Facilities that seek the label would have to phase out mining hardware manufactured by companies linked to foreign adversaries, reducing reliance on potentially insecure supply chains.

The legislation channels certified mining projects into existing federal energy and rural development programs, supporting the transition without requesting new budgetary outlays. It also directs federal technical agencies to assist US manufacturers in designing and producing mining hardware.