The elected president of the USA, Trump, made a series of campaign promises, one of which is quite controversial: to ensure that all remaining Bitcoins are produced in the USA. However, this promise may be one of the hardest goals to achieve.

The total supply of Bitcoin is set at 21 million coins, which is one of its core design features. Currently, about 95% of the Bitcoins have been mined. However, despite most of the Bitcoins having been mined, it will take about 100 more years to reach the final cap of 21 million coins.

In June of this year, Trump stated on Social Media that he plans to ensure Bitcoin is completely produced in the USA. This promise was made after Trump met with several Company Executives from Cryptos mining businesses who operate large datacenters responsible for facilitating trades on the blockchain and earning Bitcoins and other Cryptos in return. This meeting also marked an important shift for Trump from being a skeptic of Cryptos to becoming a supporter of the Industry.

American miners, such as CleanSpark and Riot Platforms, quickly supported Trump, hoping he would loosen scrutiny on the environmental impacts of high-energy processes, curb overseas competition, and repeal the Biden administration's restrictive guidelines. Trump's support for Cryptos helped him raise about 0.135 billion dollars in campaign donations for the election, more than any other Industry.

However, industry insiders generally believe that Trump's promise is viewed more as symbolic support for the Cryptos industry and is nearly impossible to implement in practice:

The blockchain is a decentralized network that cannot fully control or prohibit any party's participation. Currently, the participants in the Global mining market are extremely dispersed.

The Bitcoin mining industry in the USA has rapidly developed in recent years and has become a multi-billion dollar industry, but according to analyses, the computing power of local miners in the USA still remains well below half of the Global total, making it nearly impossible for USA companies to fully support the entire Bitcoin network.

The competition in the Global crypto mining industry is becoming increasingly fierce, with large operations emerging around the world to share this cake. Russian oligarchs and the Dubai royal family are the latest entrants to join.

Although there is no public data to precisely categorize the sources of computing power in different regions globally, large Cryptos mining service providers like Luxor often have a good understanding of the composition of computing power. They obtain more specific information about mining locations through aggregation Software, thereby increasing miners' chances of receiving Bitcoin rewards.

As mining in the USA rapidly expands, coinciding with a bull market in the Cryptos market, coupled with the USA's economic sanctions and escalating inflation in some emerging economies, these factors have prompted overseas miners to further ramp up their mining operations, leading to fierce competition in the overall market:

Kazakhstan previously saw a significant increase in mining demand due to lower Energy costs.

Russia's relaxed stance on Cryptos has also stimulated the revival of the country's Cryptos Industry.

Countries rich in hydro resources, such as Ethiopia, have become the fastest-growing centers for Cryptos mining in Africa, where Bitcoin mining profits are significantly higher than those of their USA counterparts.

In countries like Argentina, where inflation is severe, mining income priced in dollars offers local miners an opportunity to hedge against inflation.

Even some miners in the USA have chosen to expand overseas due to rising Energy costs. For example, the largest Market Cap mining company, MARA, announced a joint venture to establish a factory in Abu Dhabi with the local sovereign fund, aiming to create one of the largest mining centers in the Middle East.

Another point to mention is that Trump's policies may pose challenges for miners in the USA, such as their trade policies potentially leading to higher costs for Bitcoin mining equipment. For miners, Energy and equipment are the two largest expenses.

Despite this, industry insiders generally believe that Trump has more advantages than disadvantages for the overall Cryptos market. Taras Kulyk, CEO of Synteq Digital, stated that Trump might be the best thing for Bitcoin mining as he supports Energy and economic growth.