Odaily Planet Daily News Last year, President Trump, in addition to making many other promises to support cryptocurrency, also stated that he hopes all remaining bitcoins are produced domestically in the United States. Industry insiders believe this is very difficult, if not impossible, to achieve. Data compiled by TheMinerMag shows that U.S. miners currently account for about 40% of the mining hash rate, more than any other country or region. However, experts say it is extremely unlikely that Trump will transfer the remaining 60% of bitcoin mining hash power to the U.S. Matthew Sigel, director of digital asset research at VanEck, said, "In my view, this is impossible," adding that it would mean mining operations around the world would have to shut down, and U.S. mining operations would have to take their place. CJ Burnett, Chief Revenue Officer of Compass Mining, which provides bitcoin mining hosting and other services, also believes that while his company is excited about Trump's "eager" stance towards the industry, it is unrealistic to move all mining operations to the U.S. He stated, "The U.S. lacks the power infrastructure, physical computing hardware (mining machines), and sufficiently low energy costs to become the only place to mine all remaining bitcoins." "Ultimately, bitcoin mining is still a globally distributed network driven by the global market economy, energy availability, and regulatory environment," Burnett added. Other hot regions for crypto mining include Kazakhstan, Russia, and Canada. (Decrypt)

#BTC