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MARA urges US to lead Bitcoin hash rate for sovereignty

MARA urges US to lead Bitcoin hash rate for sovereignty

GrafaGrafa2024/11/28 03:21
By:Isaac Francis

MARA Holdings has called on the United States to prioritise leadership in Bitcoin (CRYPTO:BTC) mining, emphasising the need to control blockspace and hash rate to safeguard financial sovereignty and strengthen geopolitical influence.

In a post on X, MARA highlighted Bitcoin’s defining traits—finite supply, decentralisation, and borderless transferability—likening it to gold as a store of value.

However, the firm argued that holding Bitcoin is not enough; the U.S. must dominate its mining infrastructure to secure its position in the digital economy.

“By controlling hash rate, a nation can prioritise access to blockspace, preventing adversarial nations from censoring or manipulating its transactions. Conversely, failing to secure a sufficient share of blockspace and hash rate leaves the U.S. vulnerable to external pressures in a world where Bitcoin’s importance as a financial and geopolitical tool is rapidly growing.” MARA stated.

Amid global moves to reduce reliance on the U.S. dollar, MARA warned that inaction in Bitcoin mining could pose economic and strategic risks.

It suggested that a focus on mining could bolster domestic manufacturing, create high-tech jobs, and stabilise energy grids.

The firm also emphasised the need to reduce dependency on foreign ASIC chip production, advocating for local manufacturing and the integration of renewable energy into mining operations.

These measures could enhance sustainability and strengthen the energy sector.

MARA proposed a strategic roadmap, urging the U.S. to acquire Bitcoin as a reserve, expand domestic mining capabilities, and incentivise innovation through tax benefits and regulatory clarity.

It further noted that Bitcoin mining could monetise excess energy and strengthen infrastructure, providing economic and security benefits.

Drawing comparisons to historical leadership in gold reserves, MARA called for policymakers to recognise Bitcoin mining as essential to national strategy.

At the time of reporting, the Bitcoin (BTC) price was $96,096.63.

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