U.S. Senators Bill Cassidy and Cynthia Lummis have introduced the 'Mined in America Act' aiming to strengthen domestic Bitcoin mining and formalize a national strategic Bitcoin reserve. The bill establishes a voluntary certification program through the Department of Commerce, incentivizing miners to phase out hardware from countries considered foreign adversaries, particularly China and Russia, which currently supply approximately 97% of mining equipment despite the U.S. controlling 38% of the global hash rate. Certified facilities will gain access to existing federal energy and rural development programs, avoiding new appropriations. A key component is the formalization of a Strategic Bitcoin Reserve within the Treasury Department, initially outlined in a previous executive order. Supporters, including the Satoshi Action Fund, argue this will reduce reliance on foreign supply chains, bolster U.S. manufacturing, and position the U.S. as a global leader in digital assets, fulfilling former President Trump’s pledge. The legislation mirrors the approach of the CHIPS Act by focusing on domestic production and supply chain security.
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