Ethan Vera, COO of cryptocurrency mining services firm Luxor Technologies, told Bloomberg in an interview that "President-elect Donald Trump has talked about encouraging more bitcoin mining in the U.S. — and having all the remaining bitcoin mined in the U.S. — but it's unclear whether that's feasible." He explained that "less than 50 percent of the total hashrate dedicated to bitcoin mining currently comes from U.S.-based miners, with China and Russia leading the pack." Vera's cautious assessment stems from the significant infrastructure and energy requirements associated with bitcoin mining. China, which currently dominates global bitcoin mining with a hashrate share of over 65%, has a comparative advantage due to its vast hydropower resources and low electricity costs. In contrast, the U.S. relies heavily on fossil fuels for electricity generation, making it a less cost-effective location for large-scale bitcoin mining operations. Vera emphasizes that while Trump's intentions may be well-intentioned, the reality of bitcoin mining is driven by economic factors and technological constraints. It remains to be seen whether the U.S. can overcome these challenges and become a more competitive player in the global bitcoin mining landscape.

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