Newly elected US President Donald Trump has called for all remaining Bitcoin to be mined in the United States, but experts say practical challenges, such as global competition and Bitcoin's decentralized nature, could make this goal nearly impossible.

In June, Trump met with executives from US-based Bitcoin mining companies at Mar-a-Lago, where they discussed the potential for job creation and increased energy dominance in the Bitcoin mining industry. The meeting included representatives from major companies such as Riot Platforms, MARA Holdings, TeraWulf, CleanSpark, and Core Scientific.

After the meeting, Trump shared on Truth Social:

“Biden’s hostility to Bitcoin only benefits China, Russia, and the radical communist left. We want all remaining Bitcoin produced in the USA!!! That would make us an energy superpower.”

Following the above statement, Trump continued to emphasize his commitment to Bitcoin mining right here in the United States. In subsequent meetings, he affirmed that if cryptocurrencies are truly meant to shape the future, he wants Bitcoin mining to be done right here on American soil.

However, many industry experts still express skepticism about the feasibility of this goal.

Ethan Vera, CEO at Seattle-based Luxor Technology, a company that provides software and services to Bitcoin miners, shared:

“This is a Trump-style statement, but the reality is not that simple.”

Since about 94% of the total 21 million Bitcoins have already been mined, controlling future Bitcoin production will be very difficult.

Additionally, global competition is intensifying, making it difficult for the United States to completely dominate the Bitcoin mining industry, according to Taras Kulyk, CEO of Synteq Digital. Currently, US-based miners account for less than 50% of the total global computing power used for Bitcoin mining.

Meanwhile, countries like China, Kazakhstan and Russia, which benefit from low energy costs and little oversight, have become major Bitcoin mining hubs.

Russia has recently introduced a legal framework for Bitcoin mining, recognizing it as a legitimate economic activity. The new law, signed by President Vladimir Putin, allows organizations and individuals to engage in Bitcoin mining, creating a more favorable environment for the industry.

The decentralized nature of Bitcoin also allows miners around the world to participate in validating transactions and creating new Bitcoins. Countries with cheap energy, especially emerging markets in Africa like Ethiopia, are becoming increasingly attractive locations for mining.

Trump, in previous campaigns, proposed high tariffs on goods imported from China, claiming that these measures would protect industry and jobs in the United States. If these tariffs were imposed, they would increase costs for American Bitcoin miners, who rely on mining equipment imported from China.

This could create difficulties for miners in the United States, as operating costs would increase, putting them at a competitive disadvantage against other countries with lower costs.



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