Bloomberg Analysis: Trump’s Bitcoin Mining Ambitions Face Major Obstacles

Bloomberg analysts point out that Donald Trump may struggle to turn the US into a global Bitcoin mining hub. They highlight several key challenges:

A large portion of Bitcoin cannot be mined within US borders.

Trump’s trade war with China could lead to higher costs for mining equipment, which is already one of the primary expenses for miners.

The majority of mining equipment is manufactured by Bitmain, a Chinese company.

Bitcoin mining is predominantly taking place outside the US, with new farms being developed internationally. $BTC