Beyond energy considerations, Bitcoin mining is emerging as a powerful force for economic revitalization of rural areas hit hard by globalization and the offshoring of American industry. According to our research team, in 2023, U.S. Bitcoin mining operations generated $2 billion in revenue, a figure that represents 3% of the American iron and steel industry’s output. This comparison underscores the growing economic significance of this nascent sector. In just five years, the industry has created substantial employment opportunities. According to our internal estimates, direct employment in U.S. Bitcoin mining has grown to approximately 1,700 jobs, doubling over the past two years. When considering indirect employment, PwC estimates the figure rises to around 11,000 jobs nationwide.
