U.S. Senators Introduce Legislation to Support Domestic Bitcoin Miners

Washington D.C. - In a bid to bolster the growing Bitcoin mining industry in the United States, Senators Bill Cassidy (R-LA) and Cynthia Lummis (R-WY) have introduced legislation aimed at supporting domestic miners.

The 'Mined in America Act' seeks to address concerns about the reliance on foreign-made equipment, with the majority of Bitcoin's hash rate attributed to machines manufactured in China. To mitigate this risk, the bill proposes creating a voluntary certification program for mining entities, which would allow them to tap into existing federal programs and receive support from the U.S. Commerce Department.

The initiative is also expected to promote domestic manufacturing of crypto mining equipment, with the government committing to helping U.S. manufacturers develop such technology onshore. This move has been seen as a way to bolster supply chains and reduce exposure to companies tied to foreign adversaries.