Bitcoin mining has become a major industry in the United States, with American miners currently contributing around 40% of the global Bitcoin mining hashrate.
But could Donald Trump’s return to the White House make the US the sole hub for all future Bitcoin mining? Experts say that’s unlikely.
During his campaign, Trump made numerous pro-crypto promises, including one bold statement: He wanted all remaining Bitcoin to be mined in the U.S. But achieving that would require shutting down mining operations worldwide and transferring that capacity to America, a move seen as impractical by industry professionals.
“I think it’s impossible,” said Matthew Sigel, VanEck’s director of digital assets research. He explained that global mining networks are too entrenched for such a shift to happen. CJ Burnett, chief revenue officer at Compass Mining, echoed that sentiment, noting that the U.S. lacks the infrastructure, affordable energy and mining equipment needed to undertake such a monumental task.
Bitcoin mining is inherently a globally distributed network, driven by factors such as energy availability, market economics, and regulatory environments across countries. “The US cannot be the sole location for mining all of the remaining Bitcoin,” Burnett said. However, he acknowledged that better US policies could attract more miners to set up operations domestically and accelerate the growth of the sector.
Frank Holmes, CEO of Hive Digital Technologies, also expressed optimism that a Trump presidency could bring “continued support for Bitcoin innovation.”
*This is not investment advice.
