On March 30, U.S. Senators Cynthia Lummis (R-Wyo.) and Bill Cassidy (R-LA) unveiled the “Mined in America Act,” a legislative effort aimed at enhancing the domestic mining of digital assets and formalizing a strategic Bitcoin reserve as outlined in a previous executive order by former President Donald Trump.
The proposed bill mandates the Department of Commerce to implement a voluntary certification program specifically for cryptocurrency miners. This initiative is designed to bolster industry standards and ensure compliance in a rapidly evolving sector. Moreover, the bill calls upon the National Institute of Standards and Technology along with the Manufacturing Extension Partnership to collaborate with American manufacturers to develop mining equipment that is both secure and energy-efficient.
Another significant facet of the legislation is its encouragement for certified mining facilities to phase out hardware sourced from companies associated with foreign adversaries. This aligns with broader national security objectives and aims to reduce reliance on foreign production. Dennis Porter, co-founder and CEO of the Satoshi Action Fund, expressed support for the bill, noting that while America currently commands 38 percent of the global Bitcoin hash rate, an overwhelming 97 percent of the hardware is manufactured in China. He emphasized that such a dependency poses a significant risk rather than establishing leadership in the field.
Senator Lummis reiterated the commitment to making the United States the leader in the digital asset space, as pledged by Trump, stating that the “Mined in America Act” is a crucial step toward bringing Bitcoin mining and the broader cryptocurrency industry back to U.S. soil. She framed the bill as part of a strategy to secure the country’s financial future through innovative regulatory frameworks.
This is not the first time Lummis has championed legislation focused on cryptocurrency; she had previously introduced the BITCOIN Act in July 2024, which also aimed to establish a strategic Bitcoin reserve to address national debt concerns. Follow-up efforts included reintroducing the Bill to codify Trump’s earlier executive order after it was signed in March of the prior year. Furthermore, last July, Lummis proposed tax legislation aimed at creating a de minimis exemption for crypto gains taxes on transaction values up to $300. Despite these initiatives, none of her bills have yet to pass, but she continues to advocate for progressive crypto regulations and broader market acceptance within the U.S.
Amid ongoing discussions in the legislative space, Bitcoin has experienced significant market fluctuation, losing over 40% of its value over the past six months, currently trading at approximately $66,606.22. As the landscape of digital assets becomes increasingly intertwined with national policy, the “Mined in America Act” emerges as a pivotal development for the future of cryptocurrency mining in the country.
