Crypto enthusiasts are waiting for serious changes for the niche after Trump’s inauguration on 20 January. Still, the newly elected president has already chosen Paul Atkins, who is good with cryptocurrencies, as SEC chairman.

The politician also chose former PayPal chief operating officer David Sachs to be in charge of artificial intelligence and cryptocurrency policy. Accordingly, the coin industry may indeed move to an active phase of development on the territory of the United States.

Against the background of such expectations, analysts began to remember how Bitcoin behaved after Trump’s debut election victory in 2016. They compared the changes in the value of the first cryptocurrency in that period with what is happening today – the following was obtained.

Comparison of Bitcoin’s behaviour after Trump’s election victories in 2016 and 2024

As you can see, about a year after the previous election, BTC rose in price to then unprecedented heights and the peak of the corresponding bullrun.

It’s also worth paying attention to the situation with the dollar. The US national currency index became noticeably weaker during Trump’s first presidential term, which can be considered suitable conditions for Bitcoin and other cryptocurrencies.

Comparing the behaviour of the dollar index after Trump’s election victories in 2016 and 2024

Still, when the dollar weakens, investors look for alternative instruments to invest capital. And if the situation repeats itself now, digital assets will definitely be on the capital holders’ radar.

Where Bitcoin will be mined the most

Trump touched on the topic of BTC mining in June 2024. Then he stated that mining the first cryptocurrency could prove to be “the last line of defence against central bank digital currencies”, therefore the remaining bitcoins should be mined on US territory. In this way, the country will be able to dominate in terms of energy.

ASIC miner for Bitcoin mining

At that time, the US President’s stance on crypto was still new to the world, and so it was received favourably. However, even at that moment, it was obvious that Trump’s statement would not be enough to turn America into a dominant player in BTC mining.


Recall that the Bitcoin network is decentralised, which means that its participants are equal to each other. Thus anyone can purchase a special ASIC device and direct it to BTC mining. At times, this may not be economically advantageous, but there is always such a possibility, in this regard, which made Trump's promise seem unrealistic from the beginning.

By the way, if you have a video card, you can also get bitcoins. To do this, use it to mine popular altcoins and enable automatic exchange of rewards for BTC, which will come to the right address. The details of the scheme and simple settings are in this article.
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Analysts interviewed by Decrypt journalists confirmed the version that mining all BTC exclusively on the territory of the United States is impossible. This statement was made by Matthew Siegel, head of digital asset research at VanEck, a large investment fund. According to him, in order to realise Trump’s promise, all bitcoin mining in other countries must stop.

Compass Mining financial manager C.J. Burnett said he and his colleagues are pleased with Trump’s support for the crypto mining industry. However, moving all BTC mining operations to America would be at least impractical. Here’s his rejoinder.

The U.S. lacks the necessary electrical infrastructure, physical computing equipment, and low enough energy costs to be the only place to mine all remaining BTC.

In other words, many miners find it more profitable to continue operations in their own region because of various features. For example, it could be more affordable electricity, ease of taxation, or various incentives to operate from the government.

Burnett continues.

Ultimately, Bitcoin mining remains a globally distributed network. It is driven by market economics, energy availability, and regulatory conditions around the world.

According to platform TheMinerMag, the US currently accounts for about 40 per cent of the hashrate of the Bitcoin network – that is, the total processing power of all devices used to mine BTC. This is the best result among all countries.

Share of the largest mining pools in the total number of bitcoins mined

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There is also a high concentration of BTC miners in Kazakhstan, the Russian Federation and Canada.


Analysts note that the twenty largest US publicly traded Bitcoin mining companies mined 3,794 BTC in November 2024. In a month, the network of the first cryptocurrency on average produces 13,500 coins, taking into account the current block reward of 3.125 BTC. That means we are talking about 28 per cent of the total.

The head of business development at mining company Blockmetrix, Ro Shirole, also shared his opinion on the situation.

Bitcoin mining may indeed become more and more popular in the US. In addition, improvements in the regulation of cryptocurrencies in the country may well make it more attractive for miners, thus contributing to the accelerated growth of the sphere.


The conclusions from the experts' comments are obvious: the US will not be the country whose residents will be responsible for the creation of all new BTC in the future. And although US miners are able to improve their position by reducing the cost of electricity, as Trump previously said, players from other countries will continue to do their business. Which means competition in the field will only intensify.

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