Odaily Planet Daily News: Last year, President elect Trump, in addition to making many other commitments in support of cryptocurrency, also expressed his desire for all remaining Bitcoin to be produced domestically in the United States. Industry insiders believe that this is very difficult, if not impossible, to achieve.
According to data compiled by TheMinerMag, American miners currently account for approximately 40% of mining computing power, more than any other country or region. But experts say that Trump is highly unlikely to transfer the remaining 60% of Bitcoin mining power to the United States.
Matthew Sigel, head of digital asset research at VanEck, said, "In my opinion, this is impossible," adding that this means mining operations around the world must be shut down and replaced by mining operations in the United States.
CJ Burnett, Chief Revenue Officer of Compass Mining, which provides Bitcoin mining custody and other services, also believes that while his company is excited about Trump's "enthusiasm" for the industry, transferring all mining operations to the United States is unrealistic. He said, "The United States lacks electricity infrastructure, physical computing hardware (mining machines), and sufficiently low energy costs to be the only place to mine all remaining bitcoins
Ultimately, Bitcoin mining remains a globally distributed network driven by a global market economy, energy availability, and regulatory environment, "Burnett added. Other hotspots for cryptocurrency mining include Kazakhstan, Russia, and Canada. （Decrypt）
