Bitcoin Mining Nationalized? US Senators Float Bold New Reserve-Backed Bill

About 97% of the machines used to mine Bitcoin currently come from companies based in China. This heavy reliance on foreign technology has created a bottleneck at American ports and raised alarms about the long-term security of the network. Related Reading: Bitcoin ETFs Pull In $56B As CEO Pitches Crypto Over Gold To fix this, US Senators Bill Cassidy and Cynthia Lummis introduced the Mined in America Act. The bill aims to move the production of specialized computer chips and mining rigs onto American soil. Cleaning Up The Mining Supply Chain The proposed law creates a special “Mined in America” certification for data centers. To earn this label, a facility must prove it is not using equipment made by “foreign adversaries.” This would force a massive shift in how the industry operates. Right now, most miners buy their hardware from Chinese giants like Bitmain or MicroBT. Under the new rules, companies would have to phase out that gear in favor of US-made alterna