[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 4251 Introduced in Senate (IS)]
<DOC>
119th CONGRESS
2d Session
S. 4251
To direct the Secretary of Commerce to establish a voluntary Mined in
America Certification Program, to use Federal programs and authorities
to promote the replacement of mining hardware related to foreign
adversaries with compute infrastructure manufactured in the United
States or friendly nations, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
March 26, 2026
Mr. Cassidy (for himself and Ms. Lummis) introduced the following bill;
which was read twice and referred to the Committee on Finance
_______________________________________________________________________
A BILL
To direct the Secretary of Commerce to establish a voluntary Mined in
America Certification Program, to use Federal programs and authorities
to promote the replacement of mining hardware related to foreign
adversaries with compute infrastructure manufactured in the United
States or friendly nations, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Mined in America Act of 2026''.
SEC. 2. FINDINGS; PURPOSE.
(a) Findings.--Congress finds that--
(1) blockchain and digital asset technologies serve an
essential role in the future economic, technological, and
strategic interests of the United States, as reflected in
official statements from the President, bipartisan action in
Congress, and recent legislation establishing oversight and
regulatory frameworks for digital assets;
(2) Bitcoin is the original digital asset, has operated
through an open, decentralized network with no central
authority for more than 15 years, and continues to demonstrate
technical resilience, economic relevance, and functional
independence;
(3) the establishment and management of a strategic reserve
of Bitcoin by the Federal Government reinforces the continuing
role in the national interest and the important long-term
strategic value of Bitcoin;
(4) the reliability of the Bitcoin blockchain depends on a
decentralized validation process and a globally distributed
infrastructure, but a substantial portion of mining hardware
currently in use is manufactured by companies related to
foreign adversaries, creating national security and operational
integrity risks;
(5) the ability of the United States to lead in Bitcoin and
digital asset innovation requires that critical blockchain
infrastructure, including mining hardware and consensus
software, be developed, operated, and maintained within the
United States, or friendly nations, and free from control by
entities related to foreign adversaries;
(6) Bitcoin mining operators in the United States have
contributed materially to domestic artificial intelligence
capabilities by converting existing facilities and
infrastructure to support machine learning, inference, and
high-density compute operations; and
(7) the replacement of mining hardware related to foreign
adversaries with compute infrastructure manufactured in the
United States, or friendly nations, is a necessary national
objective.
(b) Purpose.--The purpose of this Act is to facilitate the
objective described in subsection (a)(7) through the use of existing
Federal programs and authorities.
SEC. 3. DEFINITIONS.
In this Act:
(1) Certification program.--The term ``certification
program'' means the Mined in America Certification Program
established under section 4(a).
(2) Demand response; demand-responsive.--The terms ``demand
response'' and ``demand-responsive'' mean the capability of a
facility, including a distributed energy system or controllable
load, to adjust electricity consumption in response to price
signals, grid reliability needs, or market incentives to
enhance grid efficiency and resilience.
(3) Foreign adversary.--The term ``foreign adversary'' has
the meaning given the term ``covered nation'' in section
4872(f) of title 10, United States Code.
(4) Friendly nation.--The term ``friendly nation'' means a
foreign country that--
(A) is not a foreign adversary; and
(B) the Secretary of State designates as an ally or
partner of the United States for purposes of this Act.
(5) High-density compute.--The term ``high-density
compute'' means a computational operation or facility
characterized by high power density and intensive processing
workloads, including those used for artificial intelligence
training, inference, blockchain validation, advanced data
processing, and other energy intensive compute tasks.
(6) Mining facility.--The term ``mining facility'' means a
physical site that houses and operates specialized computer
hardware for the purpose of performing proof-of-work mining,
including associated power, cooling, and network
infrastructure.
(7) Mining pool.--The term ``mining pool'' means a group of
participants in a proof-of-work mining network that--
(A) combine their computational resources over a
network to increase the probability of validating a
block; and
(B) share any resulting rewards in proportion to
the contributed hash power of each participant.
(8) Proof-of-work mining.--The term ``proof-of-work
mining'' means the operation of specialized hardware or
computing systems to validate transactions and secure
decentralized blockchain networks by solving cryptographic
puzzles, resulting in the issuance of new units of a digital
asset as a reward.
(9) Secretary.--The term ``Secretary'' means the Secretary
of Commerce.
SEC. 4. MINED IN AMERICA CERTIFICATION PROGRAM.
(a) Establishment.--
(1) In general.--The Secretary shall establish a voluntary
certification program, to be known as the ``Mined in America
Certification Program'', to certify mining facilities and
mining pools that meet the requirements established under this
section.
(2) Scope.--A certification under the certification
program--
(A) shall not confer any regulatory license or
waiver of legal requirements under any other provision
of law (including regulations);
(B) may serve as a basis for eligibility for,
priority for, or participation in a Federal loan,
grant, reimbursement, or procurement program, in
accordance with applicable law or regulations; and
(C) shall not be required for any mining facility
or mining pool except as a condition of eligibility
for, priority for, or participation in a program
described in subparagraph (B), in accordance with
applicable law or regulations.
(b) Certification Criteria and Administration.--
(1) In general.--Not later than 180 days after the date of
enactment of this Act, the Secretary shall promulgate
regulations governing the certification of mining facilities
and mining pools under the certification program.
(2) Eligibility.--To be eligible for certification under
the certification program--
(A) the proof-of-work mining operations of the
mining facility or mining pool shall be physically
located within the United States or a friendly nation;
(B) in the case of the certification of a mining
pool, the mining pool--
(i) shall be headquartered and operated in
the United States or a friendly nation; and
(ii) shall not be owned, controlled, or
subject to undue influence by an entity related
to a foreign adversary;
(C) in the case of the certification of a mining
facility, the mining facility--
(i) shall not be owned, controlled, or
subject to undue influence by an entity related
to a foreign adversary; and
(ii) shall participate in a mining pool
described in subparagraph (B);
(D) the mining facility or mining pool shall
document and attest to compliance with the applicable
hardware sourcing standards described in paragraph (3);
(E) the mining facility or mining pool shall
maintain cybersecurity protocols consistent with
minimum standards established by the Secretary,
including protection of network systems, private keys,
remote access tools, and physical facilities; and
(F) the mining facility or mining pool shall
satisfy any additional criteria that the Secretary
determines to be necessary to uphold the integrity of
the certification.
(3) Hardware sourcing standards.--
(A) In general.--To be eligible for certification
under the certification program, a mining facility or
mining pool shall be in compliance with the following
hardware sourcing standards:
(i) Beginning on January 1, 2027, the
mining facility or mining pool may not purchase
any proof-of-work mining equipment manufactured
by any entity related to any foreign adversary.
(ii) Beginning on January 1, 2028, not more
than 75 percent of the active proof-of-work
mining hardware of the mining facility or
mining pool may be manufactured by an entity
related to a foreign adversary.
(iii) Beginning on January 1, 2029, not
more than 50 percent of the active proof-of-
work mining hardware of the mining facility or
mining pool may be manufactured by an entity
related to a foreign adversary.
(iv) Beginning on January 1, 2030, 0
percent of the active proof-of-work mining
hardware of the mining facility or mining pool
may be manufactured by an entity related to a
foreign adversary.
(B) Initial certifications.--The Secretary may
issue a certification under the certification program
before January 1, 2027, if--
(i) the applicable mining facility or
mining pool has not purchased any proof-of-work
mining equipment manufactured by any entity
related to any foreign adversary since the date
of enactment of this Act; and
(ii) the operator of the applicable mining
facility or mining pool submits to the
Secretary a plan for achieving compliance with
the hardware sourcing standards described in
subparagraph (A).
(C) Preferred certifications.--During the period
beginning on January 1, 2027, and ending on December
31, 2029, the Secretary may designate a certification
of a mining facility or mining pool under the
certification program as a preferred certification for
Federal program eligibility if not more than 25 percent
of the active proof-of-work mining hardware of the
mining facility or mining pool is manufactured by an
entity related to a foreign adversary.
(D) Recognition of infrastructure conversion.--For
the purposes of determining compliance with
subparagraph (B) or (C), the Secretary shall consider
proof-of-work mining hardware related to foreign
adversaries to be removed from active deployment if the
operator of the mining facility or mining pool
demonstrates that the hardware has been replaced,
repurposed, or retired in favor of proof-of-work mining
hardware manufactured in the United States or a
friendly nation, including infrastructure deployed for
artificial intelligence training, inference, or grid-
responsive computational operations.
(4) Duration; renewal.--A certification under the
certification program--
(A) shall be valid for a period of not more than 2
years; and
(B) may be renewed only on a demonstration of
continued compliance with all applicable requirements
under this section.
(5) Information sharing.--In carrying out the certification
program, the Secretary may share information with, or request
information from, the Secretary of Energy or the Secretary of
Agriculture.
(c) Application and Review Process.--
(1) In general.--In administering the certification
program, the Secretary shall establish an application and
review process for certification.
(2) Applications.--
(A) In general.--To apply for certification under
the certification program, an operator of a proof-of-
work mining facility or mining pool shall submit to the
Secretary an application, which shall contain
information necessary for the Secretary to determine
eligibility under subsection (b).
(B) Disclosure.--An application submitted under
subparagraph (A)--
(i) shall disclose ownership and control
information sufficient to identify any person
exercising control over the proof-of-work
mining operations of the applicant; and
(ii) shall not use any shell companies,
passthrough entities, or nominee arrangements
to obscure ownership or influence by a foreign
adversary.
(d) Registry.--The Secretary shall maintain a publicly accessible
registry of mining facilities and mining pools certified under the
certification program, including--
(1) the effective dates of certification and renewal, if
applicable; and
(2) the applicable hardware sourcing standards under
subsection (b)(3) with which the mining facility or mining pool
is compliant, including whether the certification is a
preferred certification under subsection (b)(3)(C).
(e) Federal Program Eligibility.--
(1) In general.--The head of a Federal agency that
administers a loan, grant, reimbursement, or procurement
program for which eligibility, priority, or participation is
based on certification under the certification program may rely
on the registry maintained under subsection (d) to determine
the eligibility, priority, or participation of an entity in
that program, in accordance with applicable law (including
regulations).
(2) Requirement.--An entity shall not be granted
eligibility for, priority for, or participation in a loan,
grant, reimbursement, or procurement program for which that
eligibility, priority, or participation is based on
certification under the certification program unless the entity
holds a valid certification under the certification program.
(f) Confidentiality.--
(1) In general.--In carrying out the certification program,
the Secretary shall safeguard the confidentiality of all
proprietary operational data, financial records, trade secrets,
and personally identifiable information submitted in connection
with a certification.
(2) Exemption from foia.--Information in the registry
maintained under subsection (d) shall be exempt from disclosure
under section 552 of title 5, United States Code.
(g) Oversight and Reporting.--
(1) In general.--The Secretary shall promulgate regulations
to ensure transparency of, compliance with, and enforcement
under the certification program, including--
(A) requirements for certified mining facilities
and mining pools to submit periodic reports verifying
continuing compliance with the requirements under
subsection (b);
(B) procedures for the suspension or revocation of
a certification in the case of a material
misrepresentation, noncompliance, or fraud; and
(C) regulations relating to audits and inspections
under paragraph (2).
(2) Audits or inspections.--The Secretary shall conduct
audits or inspections of mining facilities and mining pools
certified under the certification program as necessary to
ensure compliance with this section.
(3) Publication of data.--The Secretary shall publish
aggregate, nonconfidential data relating to certifications of
mining facilities and mining pools and compliance with this
section sufficient to inform Federal agencies and the public of
trends in certifications and compliance.
(h) Rule of Construction.--Nothing in this section may be construed
to confer upon the Secretary any regulatory authority over digital
asset markets or transactions.
SEC. 5. PROGRAM ELIGIBILITY FOR CERTIFIED COMPUTE INFRASTRUCTURE
PROJECTS.
(a) Department of Energy Title XVII Loan Guarantees.--
(1) In general.--Section 1703(b) of the Energy Policy Act
of 2005 (42 U.S.C. 16513(b)) is amended by adding at the end
the following:
``(14) Projects carried out by entities that are certified
under section 4 of the Mined in America Act of 2026 and involve
1 or more of the following activities:
``(A) The replacement of proof-of-work mining (as
defined in section 3 of the Mined in America Act of
2026) hardware related to foreign adversaries (as
defined in that section) with compute infrastructure
that is manufactured in the United States or a friendly
nation (as defined in that section), including
equipment used for blockchain validation, artificial
intelligence training, or high-efficiency data
processing.
``(B) The conversion of an existing mining
operation or data center into a grid-interactive or
demand-responsive (as defined in section 3 of the Mined
in America Act of 2026) computing facility that uses
infrastructure manufactured in the United States or a
friendly nation (as so defined).
``(C) The deployment of computing systems that
enable load shifting, flexible demand, or emissions
reduction in coordination with a regional transmission
organization, electric utility, or demand response (as
defined in section 3 of the Mined in America Act of
2026) market.''.
(2) Rulemaking.--Not later than 180 days after the date of
enactment of this Act, the Secretary of Energy shall issue
rules to implement the amendment made by paragraph (1),
including procedures for verifying the eligibility of projects
described in paragraph (14) of section 1703(b) of the Energy
Policy Act of 2005 (42 U.S.C. 16513(b)), establishing
documentation requirements, coordinating with the Secretary to
confirm certification status under section 4, and identifying
any emissions or energy performance standards necessary to
satisfy the objectives of title XVII of the Energy Policy Act
of 2005 (42 U.S.C. 16511 et seq.).
(3) Rule of construction.--Nothing in the amendment made by
paragraph (1) alters or waives any other requirement for
project approval under section 1703 of the Energy Policy Act of
2005 (42 U.S.C. 16513).
(b) Department of Energy Infrastructure Reinvestment Program.--
(1) In general.--Section 1706(a) of the Energy Policy Act
of 2005 (42 U.S.C. 16517(a)) is amended--
(A) in paragraph (2), by striking ``or'' at the
end;
(B) in paragraph (3), by striking the period at the
end and inserting ``; or''; and
(C) by adding at the end the following:
``(4) are carried out by entities described in section
1703(b)(14) and involve--
``(A) an activity described in subparagraph (A) or
(B) of that section; or
``(B) the repurposing of energy infrastructure
previously used in connection with foreign manufactured
crypto mining hardware into facilities that reduce net
energy intensity, improve flexibility in load
management, or provide computing for strategic
industrial applications.''.
(2) Rulemaking.--Not later than 180 days after the date of
enactment of this Act, the Secretary of Energy shall issue
rules to implement the amendment made by paragraph (1),
including documentation requirements, technical criteria for
demonstrating infrastructure conversion, emissions or energy
performance metrics, and procedures for coordinating with the
Secretary to confirm certification status under section 4.
(3) Rule of construction.--Nothing in the amendment made by
paragraph (1) alters or waives any other requirement for
project approval under section 1706 of the Energy Policy Act of
2005 (42 U.S.C. 16517).
(c) Department of Energy Smart Grid Investment Grants.--
(1) In general.--Section 1306 of the Energy Independence
and Security Act of 2007 (42 U.S.C. 17386) is amended--
(A) in subsection (a), by striking ``of qualifying
Smart Grid investments.'' and inserting the following:
``of--
``(1) qualifying smart grid investments; and
``(2) projects for the deployment of Mined in America grid-
interactive infrastructure.'';
(B) in subsection (b)--
(i) by redesignating paragraphs (1) through
(14) as clauses (i) through (xiv),
respectively, and indenting appropriately; and
(ii) by striking the subsection designation
and heading and all that follows through
``include'' in the matter preceding clause (i)
(as so redesignated) and inserting the
following:
``(b) Definitions.--In this section:
``(1) Demand response; demand-responsive.--The terms
`demand response' and `demand-responsive' have the meaning
given the terms in section 3 of the Mined in America Act of
2026.
``(2) Friendly nation.--The term `friendly nation' has the
meaning given the term in section 3 of the Mined in America Act
of 2026.
``(3) Grid-responsive infrastructure.--The term `grid-
responsive infrastructure' includes hardware, software, and
control systems that support 1 or more of the following
functions:
``(A) Load curtailment or flexible demand response
in coordination with a grid operator, electric utility,
or demand response provider.
``(B) Integration of localized energy storage,
smart metering, or real-time load control technologies
that reduce peak demand or improve grid reliability.
``(C) Cybersecurity protections to safeguard grid-
facing compute infrastructure, including systems used
to manage energy telemetry, remote access, or
distributed power systems.
``(4) Mined in america grid-interactive infrastructure.--
The term `Mined in America grid-interactive infrastructure'
means grid-responsive infrastructure that--
``(A) is manufactured in the United States; and
``(B) is or will be deployed at a facility--
``(i) located in the United States or a
friendly nation;
``(ii) the owners and operators of which
are certified under section 4 of the Mined in
America Act of 2026; and
``(iii) that is engaged in--
``(I) proof-of-work mining
operations using compute infrastructure
manufactured in the United States or a
friendly nation; or
``(II) artificial intelligence
training or inference using compute
infrastructure manufactured in the
United States or a friendly nation.
``(5) Proof-of-work mining.--The term `proof-of-work
mining' has the meaning given the term in section 3 of the
Mined in America Act of 2026.
``(6) Qualifying smart grid investment.--
``(A) In general.--The term `qualifying smart grid
investment' includes'';
(C) in subsection (c)--
(i) in paragraph (3), by striking ``Smart
Grid Information Standard under section 1307
(paragraph (17) of section 111(d) of the Public
Utility Regulatory Policies Act of 1978)'' and
inserting ``smart grid information standard
under paragraph (19) of section 111(d) of the
Public Utility Regulatory Policies Act of 1978
(42 U.S.C. 2621(d))'';
(ii) in paragraph (9), by striking
``Qualifying Smart Grid Investments'' and
inserting ``qualifying smart grid
investments'';
(iii) by redesignating paragraphs (1)
through (9) as clauses (i) through (ix),
respectively, and indenting appropriately; and
(iv) by striking the subsection designation
and heading and all that follows through ``do
not include'' in the matter preceding clause
(i) (as so redesignated) and inserting the
following:
``(B) Exclusions.--The term `qualifying smart grid
investment' does not include'';
(D) in subsection (d)--
(i) by redesignating paragraphs (1) through
(16) as clauses (i) through (xvi),
respectively, and indenting appropriately; and
(ii) by striking the subsection designation
and heading and all that follows through
``means'' in the matter preceding clause (i)
(as so redesignated) and inserting the
following:
``(6) Smart grid function.--The term `smart grid function'
means'';
(E) in subsection (e)--
(i) in paragraph (1)--
(I) by striking ``(1) The Secretary
shall'' and all that follows through
``proposals--'' in the matter preceding
subparagraph (A) and inserting the
following:
``(1) In general.--The Secretary shall--'';
(II) by indenting subparagraphs (A)
through (E) appropriately;
(III) in subparagraph (C), by
striking ``investments, and'' and
inserting ``investments or Mined in
America grid-interactive
infrastructure, and, if applicable,'';
and
(IV) in subparagraph (D), by
striking ``investments which have
received grants'' and inserting
``investments and Mined in America
grid-interactive infrastructure for
which grants have been provided''; and
(ii) in paragraph (2), by striking ``(2)
The Secretary'' and inserting the following:
``(2) Discretion.--The Secretary'';
(F) in subsections (b) through (e), by striking
``Smart Grid'' each place it appears and inserting
``smart grid'';
(G) in subsection (f), by striking ``for fiscal
years 2008 through 2012'';
(H) by redesignating subsections (a), (b), (e), and
(f) as subsections (b), (a), (c), and (e),
respectively, and moving the subsections so as to
appear in alphabetical order; and
(I) by inserting after subsection (c) (as so
redesignated) the following:
``(d) Guidance on Mined in America Grid-Interactive
Infrastructure.--
``(1) In general.--Not later than 180 days after the date
of enactment of the Mined in America Act of 2026, the Secretary
shall issue guidance relating to the provision of grants under
this section for projects for the deployment of Mined in
America grid-interactive infrastructure.
``(2) Requirement.--The guidance issued under paragraph (1)
shall--
``(A) identify Mined in America grid-interactive
infrastructure for which a grant provided under this
subsection may be used; and
``(B) establish procedures for verifying the
certification of the owners and operators of the
applicable facility under section 4 of the Mined in
America Act of 2026, in coordination with the Secretary
of Commerce.''.
(2) Rule of construction.--Nothing in this subsection or an
amendment made by this subsection waives, or may be construed
to waive, any cost-share, technical, or emissions performance
requirement applicable to a grant awarded under section 1306 of
the Energy Independence and Security Act of 2007 (42 U.S.C.
17386).
(d) Rural Energy for America Program.--
(1) In general.--Section 9007 of the Farm Security and
Rural Investment Act of 2002 (7 U.S.C. 8107) is amended--
(A) in subsection (a)--
(i) in paragraph (2), by striking the
period at the end and inserting ``; and'';
(ii) by redesignating paragraphs (1) and
(2) as subparagraphs (A) and (B), respectively,
and indenting appropriately;
(iii) in the matter preceding subparagraph
(A) (as so redesignated), by striking ``for
agricultural producers'' and inserting the
following: ``for--
``(1) agricultural producers''; and
(iv) by adding at the end the following:
``(2) compute-focused entities through grants and loan
guarantees, in accordance with subsection (d).'';
(B) be redesignating subsections (d) through (f) as
subsections (e) through (g), respectively;
(C) by striking ``subsection (f)'' each place it
appears and inserting ``subsection (g)''; and
(D) by inserting after subsection (c) the
following:
``(d) Certified Compute Infrastructure in Rural Areas.--
``(1) In general.--The Secretary shall make grants and loan
guarantees to eligible entities described in paragraph (2) to
carry out projects described in paragraph (3).
``(2) Eligible entity.--An eligible entity under this
subsection is an entity that--
``(A) is certified under section 4 of the Mined in
America Act of 2026; and
``(B) is located in a rural area.
``(3) Projects.--A project referred to in paragraph (1)
shall involve 1 or more of the following activities:
``(A) The deployment of energy storage, load
control systems, or demand-responsive compute
infrastructure that enables the eligible entity to
curtail load, shift demand, or otherwise contribute to
local grid reliability.
``(B) The support of the retention or creation of
employment in a rural area through the operation or
expansion of a certified compute facility.
``(C) On-site renewable energy generation or
emissions-reducing technology that supports energy
efficiency or peak-load mitigation.
``(4) Local hiring requirement.--An eligible entity under
paragraph (2) receiving assistance under this subsection shall
employ at least 1 individual who resides within the county or
equivalent jurisdiction in which the project is located.''.
(2) Rulemaking.--Not later than 180 days after the date of
enactment of this Act, the Secretary of Agriculture shall issue
guidance on implementing the amendment made by paragraph (1),
including procedures for verifying local employment and
coordinating with the Secretary to confirm certification status
under section 4.
(3) Rule of construction.--Nothing in the amendment made by
paragraph (1) alters or waives any requirement of the program
under section 9007 of the Farm Security and Rural Investment
Act of 2002 (7 U.S.C. 8107).
SEC. 6. FEDERAL ACQUISITION OF BITCOIN.
(a) Capital Gains Exemption for Certified Sellers.--Part III of
subchapter B of chapter 1 of the Internal Revenue Code of 1986 is
amended by inserting before section 140 the following new section:
``SEC. 139M. BITCOIN SALES FOR STRATEGIC RESERVE.
``(a) In General.--In the case of a certified Bitcoin miner, gross
income shall not include any gain from the sale or exchange of
qualified Bitcoin to the United States for deposit in the Strategic
Bitcoin Reserve.
``(b) Certified Bitcoin Miner.--For purposes of this section, the
term `certified Bitcoin miner' means any person who is certified
pursuant to subparagraph (A)(iv) or (C) of section 4(b)(3) of the Mined
in America Act of 2026.
``(c) Qualified Bitcoin.--For purposes of this section, the term
`qualified Bitcoin' means Bitcoin which was mined by the certified
Bitcoin miner or acquired through direct reward for participation in a
mining pool meeting the requirements of section 4(b)(2)(B) of the Mined
in America Act of 2026.''.
(b) Clerical Amendment.--The table of sections of part III of
subchapter B of chapter 1 of the Internal Revenue Code of 1986 is
amended by inserting before the item relating to section 140 the
following new item:
``Sec. 139M. Bitcoin sales for strategic reserve.''.
SEC. 7. DEPARTMENT OF ENERGY STUDY ON COMPUTE-BASED LOAD MANAGEMENT.
(a) Study Required.--The Secretary of Energy shall conduct a study
to assess the load-management capabilities and grid-balancing potential
of proof-of-work mining operations and high-density compute facilities
located in the United States.
(b) Scope of Study.--The study under subsection (a) shall
evaluate--
(1) the ability of proof-of-work mining operations and
high-density compute facilities--
(A) to reduce electricity consumption during
periods of peak demand;
(B) to shift load in coordination with grid
operators; or
(C) to participate in demand response and grid
reliability programs;
(2) the technologies, energy infrastructure, and
contractual mechanisms that support flexible operation of high-
density compute workloads; and
(3) the emissions impacts, energy efficiency benefits, and
market integration potential associated with the deployment of
grid-interactive compute infrastructure in various geographic
and regulatory contexts.
(c) Consultation.--
(1) In general.--In carrying out the study under subsection
(a), the Secretary of Energy shall consult with--
(A) the Secretary;
(B) the Federal Energy Regulatory Commission; and
(C) at least 1 Regional Transmission Organization
or Independent System Operator (as those terms are
defined in section 3 of the Federal Power Act (16
U.S.C. 796)).
(2) Requirement.--The Secretary of Energy, the Secretary of
Defense, and the Secretary shall coordinate to enhance
efficiency and avoid duplication with respect to the study
required under subsection (a) and the study required under
section 8(a).
(d) Reports.--The Secretary of Energy shall submit to the Committee
on Energy and Natural Resources of the Senate, the Committee on
Commerce, Science, and Transportation of the Senate, and the Committee
on Energy and Commerce of the House of Representatives--
(1) an interim report on the findings of the study under
subsection (a) not later than 1 year after the date of
enactment of this Act; and
(2) a final report on the findings of that study not later
than 2 years after that date of enactment.
SEC. 8. STRATEGIC STUDY ON DECENTRALIZED ARTIFICIAL INTELLIGENCE
INFRASTRUCTURE.
(a) Study Required.--The Secretary of Defense and the Secretary
shall jointly conduct a study on the national strategic relevance of
decentralized artificial intelligence infrastructure that operates over
blockchain-based or distributed networks.
(b) Study Contents.--The study required under subsection (a) shall
include the following:
(1) An evaluation of decentralized artificial intelligence
systems that utilize distributed computing resources and
cryptographically secured protocols.
(2) An assessment of the infrastructure resilience,
censorship resistance, and national security implications of
such systems compared to centralized models of artificial
intelligence deployment.
(3) An analysis of the potential economic, workforce, and
infrastructure development benefits of promoting decentralized
compute models within the United States.
(4) Recommendations for standards, security protocols, or
national policy initiatives to support the domestic development
and deployment of decentralized artificial intelligence
systems.
(c) Interim and Final Reports.--
(1) Interim report.--Not later than 1 year after the date
of enactment of this Act, the Secretary of Defense and the
Secretary shall jointly submit to the Committee on Armed
Services and the Committee on Commerce, Science, and
Transportation of the Senate and the Committee on Armed
Services and the Committee on Energy and Commerce of the House
of Representatives an interim report on the findings of the
study required under subsection (a).
(2) Final report.--Not later than 2 years after the date of
enactment of this Act, the Secretary of Defense and the
Secretary shall jointly submit to the Committee on Armed
Services and the Committee on Commerce, Science, and
Transportation of the Senate and the Committee on Armed
Services and the Committee on Energy and Commerce of the House
of Representatives a final report on the findings of the study
required under subsection (a).
(d) Digital Token Regulatory Coordination.--
(1) In general.--In conducting the study required under
subsection (a), the Secretary of Defense and the Secretary
shall consult with the Commodity Futures Trading Commission
regarding the regulatory classification of digital tokens that
facilitate access to or operation of decentralized artificial
intelligence networks.
(2) Sense of congress.--It is the sense of Congress that
tokens described in paragraph (1) are functionally distinct
from securities and should be subject to the jurisdiction of
the Commodity Futures Trading Commission.
SEC. 9. SUPPORT FOR DEVELOPMENT OF SECURE, ENERGY-EFFICIENT CRYPTO-
MINING HARDWARE.
(a) Support From National Institute of Standards and Technology.--
(1) In general.--The Director of the National Institute of
Standards and Technology shall take such actions as the
Director considers appropriate to support the development of
secure, energy-efficient hardware for the mining of
cryptocurrency.
(2) Grants authorized.--In carrying out paragraph (1), the
Director may award grants to design rigs for the mining of
cryptocurrency that meets United States cybersecurity
standards.
(b) Support From Hollings Manufacturing Extension Partnership.--
(1) In general.--The Director shall, acting through the
Hollings Manufacturing Extension Partnership, provide
assistance to United States manufacturers to retool for the
production of secure, energy-efficient hardware for the mining
of cryptocurrency.
(2) Technical assistance.--The Director may, acting through
the Partnership, provide technical assistance to United States
persons who manufacturer hardware that can be used for the
mining of cryptocurrency.
SEC. 10. PROMOTION OF EXPORTS TO FRIENDLY NATIONS OF CERTAIN MINING
EQUIPMENT PRODUCED IN THE UNITED STATES.
The Under Secretary of Commerce for International Trade shall
develop a program to promote exports to friendly nations of equipment
for proof-of-work mining that is produced in the United States.
SEC. 11. STRATEGIC BITCOIN RESERVE AND UNITED STATES DIGITAL ASSET
STOCKPILE; YIELD-GENERATING AUTHORITY.
(a) Findings.--Congress finds the following:
(1) Bitcoin is a decentralized digital asset that operates
through a proof-of-work consensus mechanism and has functioned
without central authority for more than 15 years, demonstrating
resilience, security, and strategic relevance.
(2) The secure operation of the Bitcoin network depends on
proof-of-work mining infrastructure, including infrastructure
located within the United States and friendly nations.
(3) The Federal Government has a national interest in
promoting secure, domestically aligned Bitcoin mining
infrastructure and holding Bitcoin as a long-term strategic
reserve asset of the United States.
(4) On March 6, 2025, the President issued Executive Order
14233 (90 Fed. Reg. 11789; relating to Establishment of the
Strategic Bitcoin Reserve and United States Digital Asset
Stockpile) (referred to in this section as the ``Executive
Order''), which directs the Secretary of the Treasury to
establish--
(A) a Strategic Bitcoin Reserve, capitalized with
Bitcoin owned by the United States and obtained
principally through criminal or civil asset forfeiture
proceedings and civil monetary penalties; and
(B) a United States Digital Asset Stockpile,
capitalized with digital assets other than Bitcoin
obtained on similar terms.
(5) The Executive Order further directed the Secretary of
the Treasury and the Secretary of Commerce to develop budget-
neutral strategies for acquiring additional Bitcoin for the
Strategic Bitcoin Reserve without imposing incremental costs on
United States taxpayers.
(6) It is appropriate, and in the national interest, to
codify and make permanent the Strategic Bitcoin Reserve and the
United States Digital Asset Stockpile and to facilitate the
acquisition of Bitcoin mined through proof-of-work operations
by permitting direct sales to the United States without
recognition of capital gain where the provenance of that
Bitcoin can be objectively demonstrated on-chain.
(b) Amendments to Title 31, United States Code.--
(1) In general.--Subchapter II of chapter 3 of title 31,
United States Code, is amended by adding at the end the
following:
``Sec. 334. Strategic Bitcoin Reserve and United States Digital Asset
Stockpile; yield-generating authority
``(a) Definitions.--In this section:
``(1) Bitcoin.--The term `Bitcoin' means the digital
asset--
``(A) that--
``(i) is native to the decentralized peer-
to-peer blockchain network described in the
white paper entitled `Bitcoin a peer-to-peer
electronic cash system' published in 2008 under
the pseudonym Satoshi Nakamoto;
``(ii) originates from the Genesis Block
created on January 3, 2009; and
``(iii) maintains an unbroken chain of
blocks from that Genesis Block through the
chain recognized by its network of independent
nodes as having the greatest cumulative proof
of work; and
``(B) the native unit of account of which is
recognized as BTC.
``(2) Control.--The term `control' means the ability to
exclusively authorize the spending of Bitcoin associated with
an address or set of addresses through possession of the
applicable private keys.
``(3) Digital asset.--The term `digital asset'--
``(A) means a natively digital representation of
value or rights that is recorded on a cryptographically
secured distributed ledger or similar technology; and
``(B) does not include a central bank digital
currency of the United States.
``(4) Government btc.--The term `Government BTC' means all
Bitcoin held by the Department of the Treasury that--
``(A) has been finally forfeited to the United
States or received in satisfaction of a civil monetary
penalty; and
``(B) is not required to satisfy restitution or
other legal obligations.
``(5) Mined bitcoin.--The term `mined Bitcoin' means
Bitcoin that--
``(A) was generated as part of a block subsidy or
transaction fee included in a coinbase transaction
resulting from proof-of-work mining on the Bitcoin
blockchain (referred to in this section as a `reward');
and
``(B) has not left the possession of the original
recipient of such reward since issuance, as
demonstrated through on-chain transaction history.
``(6) On-chain demonstration.--The term `on-chain
demonstration' means cryptographic and transaction data
recorded on the Bitcoin blockchain sufficient to establish,
without reliance on off-chain attestations, that Bitcoin is
mined Bitcoin.
``(7) Reserve.--The term `Reserve' means the Strategic
Bitcoin Reserve established under subsection (b), including the
custodial accounts and related administrative structure
associated with that Strategic Bitcoin Reserve.
``(8) Stake; staking.--The terms `stake' and `staking' mean
committing digital assets to a blockchain network that utilizes
a proof-of-stake or similar consensus mechanism for the purpose
of earning protocol-level rewards.
``(9) Stockpile.--The term `Stockpile' means the United
States Digital Asset Stockpile established under subsection
(c), including the custodial accounts and related
administrative structure associated with the United States
Digital Asset Stockpile.
``(10) Stockpile assets.--The term `Stockpile assets' means
all digital assets other than Bitcoin owned by the Department
of the Treasury and obtained through forfeiture or civil
monetary penalties.
``(b) Strategic Bitcoin Reserve.--
``(1) Establishment.--There is established in the
Department of the Treasury the Strategic Bitcoin Reserve.
``(2) Composition.--The Reserve shall consist of all
Government BTC and any Bitcoin subsequently acquired by the
Secretary of the Treasury pursuant to this section or any other
provision of law.
``(3) Protected status.--Bitcoin held in the Reserve shall
be treated as strategic reserve assets of the United States and
may not be sold or otherwise disposed of except pursuant to a
law enacted after the date of enactment of this section that
expressly authorizes that disposition.
``(c) United States Digital Asset Stockpile.--
``(1) Establishment.--There is established in the
Department of the Treasury the United States Digital Asset
Stockpile.
``(2) Composition.--The Stockpile shall consist exclusively
of Stockpile assets.
``(3) Native-form holding.--To the maximum extent
practicable, Stockpile assets shall be held in the native
digital form of those Stockpile assets.
``(d) Strategic Bitcoin Acquisition Account.--
``(1) Establishment.--There is established in the Treasury
of the United States a separate account to be known as the
`Strategic Bitcoin Acquisition Account' (referred to in this
section as the `Account').
``(2) Credits.--Notwithstanding section 3302(b) of this
title, the following shall be credited to the Account:
``(A) Staking rewards or other protocol-level yield
earned on Stockpile assets.
``(B) Airdrops or similar protocol-based
distributions received by the United States by virtue
of ownership or staking of Stockpile assets.
``(C) Proceeds from the conversion, sale, or
exchange of the assets described in subparagraphs (A)
and (B), and only such assets.
``(3) Use.--Amounts in the Account shall be available
without further appropriation solely for--
``(A) the acquisition of Bitcoin for deposit into
the Reserve; and
``(B) reasonable and necessary expenses incident to
custody, security, staking, and asset conversion.
``(e) Authority To Generate Yield From Stockpile Assets.--
``(1) Authority.--The Secretary of the Treasury may stake
Stockpile assets on blockchain networks that utilize proof-of-
stake or similar consensus mechanisms solely as a revenue-
generating activity to acquire Bitcoin for the Reserve.
``(2) Construction.--Activities under this subsection may
not be construed as regulating digital asset markets or as
endorsing any consensus mechanism other than proof-of-work as a
strategic priority of the United States.
``(3) Limitations.--The Secretary of the Treasury may not
pledge Stockpile assets as collateral, expose the United States
to leverage or margin risk, or obligate amounts from the
general fund of the Treasury to acquire Bitcoin under this
section.
``(f) Acquisition of Mined Bitcoin From Certified Miners and Proven
Owners.--
``(1) Eligibility.--
``(A) In general.--The Secretary of the Treasury
shall treat Bitcoin as mined Bitcoin eligible for
acquisition for deposit into the Reserve, if--
``(i) such Bitcoin was issued as part of a
block subsidy or transaction fee included in a
coinbase transaction resulting from proof-of-
work mining on the Bitcoin blockchain;
``(ii) each unspent transaction output
representing such Bitcoin is directly traceable
through on-chain transaction history to 1 or
more coinbase transactions described in clause
(i);
``(iii) no transaction in the ancestry of
such Bitcoin includes any input other than
unspent transaction outputs traceable to
coinbase transactions attributable to the same
seller; and
``(iv) no portion of such Bitcoin has been
transferred to, exchanged with, or combined
with Bitcoin not satisfying the requirements of
this subparagraph.
``(B) Consolidation.--Any transaction consolidating
2 or more unspent transaction outputs described in
subparagraph (A) shall not disqualify Bitcoin described
in that subparagraph from being treated as described in
that subparagraph solely by reason of such
consolidation, provided that--
``(i) all inputs to that transaction
satisfy clauses (i), (ii), and (iii) of that
subparagraph; and
``(ii) no output of that transaction is
transferred to an address not controlled by the
same seller, other than amounts paid as
transaction fees.
``(2) Eligible sellers.--Bitcoin meeting the requirements
of paragraph (1) may be acquired by the Secretary of the
Treasury directly from--
``(A) a certified Bitcoin miner; or
``(B) any owner of Bitcoin that satisfies the
requirements of paragraph (1).
``(3) Deposit.--Bitcoin acquired under this subsection
shall be deposited into the Reserve and treated as Government
BTC.
``(4) Verification standard.--
``(A) In general.--Verification under this
subsection shall be based exclusively on data recorded
on the Bitcoin blockchain.
``(B) Prohibitions.--For purposes of subparagraph
(A), the Secretary of the Treasury may not require off-
chain attestations, third-party certifications,
custodial records, or discretionary determinations
beyond confirmation that the conditions set forth in
paragraph (1) have been satisfied.
``(g) Rule of Construction.--Nothing in this section may be
construed to alter forfeiture law, impair victim restitution, create
any private right-of-action, or expand regulatory authority over
digital asset markets.''.
(2) Technical and conforming amendment.--The table of
sections for subchapter II of chapter 3 of title 31, United
States Code, is amended by adding at the end the following:
``Sec. 334. Strategic Bitcoin Reserve and United States Digital Asset
Stockpile; yield-generating authority.''.
<all>
Mined in America Act of 2026
#4251 | S Congress #119
Subjects:
Last Action: Read twice and referred to the Committee on Finance. (3/26/2026)
Bill Text Source: Congress.gov
Summary and Impacts
Original Text