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Blockchain realities threaten Trump’s “Made in USA” Bitcoin promise

Author: Content Editor
The news content highlights the unrealistic nature of Donald Trump's pledge to have all remaining Bitcoin mined in the United States. Despite Trump's desire for Bitcoin to be "Made in the USA," the decentralized nature of the cryptocurrency means that it cannot be strictly controlled or contained within borders. The global Bitcoin mining scene is highly competitive, with countries like China, Kazakhstan, and Ethiopia ramping up their mining operations. American miners contribute less than 50% of the global hashrate, and even prominent US companies have resorted to seeking cheaper energy and forming partnerships abroad to stay competitive. While some American miners supported Trump in his campaign, the challenges they face, such as increased mining difficulty, rising operational costs, and the dominance of Chinese machine manufacturers, have resulted in significant losses for many mining stocks. Some miners have adapted by diversifying into other areas, such as AI, or by accumulating Bitcoin reserves. However, the industry remains challenging, and US miners have had to raise funds through stock offerings to sustain their operations. Overall, the article emphasizes the harsh realities of the global Bitcoin mining industry and the obstacles that American miners face in their pursuit of dominance.

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