TLDR
- Bill proposes voluntary certification for US crypto mining facilities
- Certified miners must phase out hardware tied to foreign adversaries
- Plan includes incentives tied to selling Bitcoin to the government
- Proposal seeks to formalize a US Strategic Bitcoin Reserve
U.S. senators have introduced the Mined in America Act to expand domestic Bitcoin mining and reduce reliance on foreign equipment. The proposal also seeks to formalize a Strategic Bitcoin Reserve and encourage miners to sell Bitcoin to the government, aligning industry growth with national policy and economic objectives across the United States.
Certification plan targets domestic mining expansion
U.S. Senators Bill Cassidy and Cynthia Lummis introduced the Mined in America Act. The bill aims to support domestic crypto mining growth. It also seeks to reduce reliance on foreign hardware.
The proposal creates a voluntary federal certification program. This program would apply to mining facilities and mining pools. Certified entities would meet standards set by the Department of Commerce.
Facilities that join must adjust their operations over time. They would need to remove hardware linked to foreign adversaries. This requirement focuses on supply chain security and local production.
Reports indicate that most mining hardware used in the U.S. comes from China. Lawmakers cited this as a concern. The bill aims to shift demand toward domestic manufacturing and trusted suppliers.
Strategic Bitcoin reserve included in the proposal
The bill also includes plans related to a national Bitcoin reserve. It would codify a previous executive order linked to Donald Trump. This order proposed the creation of a Strategic Bitcoin Reserve.
The reserve would be managed within the U.S. Treasury system. It would treat Bitcoin as a strategic asset. Lawmakers see this as part of broader financial planning.
Senator Lummis has supported Bitcoin-focused policies before. She stated that digital assets can play a role in national strategy. The bill reflects continued interest in integrating crypto into federal systems.
In addition, the proposal connects mining activity with government holdings. It encourages miners to sell Bitcoin to the government. This approach could help build the reserve over time.
Incentives and industry support measures
The bill includes financial incentives for participating miners. One reported feature is capital gains tax relief. This would apply when miners sell Bitcoin to the government.
Supporters say this could encourage more domestic mining activity. It may also improve liquidity between private miners and public reserves. The structure aims to align industry growth with national goals.
The proposal also links mining to energy and rural development projects. Existing infrastructure could support new mining operations. This may help expand economic activity in certain regions.
At the same time, the certification program remains voluntary. Companies can choose whether to participate. However, incentives may attract firms seeking regulatory clarity and financial benefits.
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