Marathon Digital CEO Urges U.S. to Kickstart Bitcoin Mining for Strategic Reserve
“A reserve means nothing without real bitcoin inside,” says Fred Thiel.
LAS VEGAS, Nevada — Marathon Digital Holdings (MARA) CEO Fred Thiel called on the U.S. government to move beyond words and start actively building its strategic bitcoin reserve by mining domestically.
Speaking at the Bitcoin 2025 conference in Las Vegas on Tuesday, Thiel emphasized that while the Trump administration’s March executive order laid out plans for a bitcoin reserve, it remains unclear how and when the government will begin filling it. Thiel suggested the government could leverage excess hydroelectric power to mine bitcoin in a cost-effective, budget-neutral way.
“It’s critical the U.S. doesn’t just talk about a strategic reserve but actually begins accumulating bitcoin,” Thiel said.
Currently, the reserve includes about 200,000 bitcoins seized through government forfeitures. But many experts and lawmakers believe this is only the starting point.
Senator Cynthia Lummis (R-Wyo.) has been pushing legislation—the BITCOIN Act of 2025—that would codify the reserve and authorize converting a portion of underutilized government assets, like gold certificates, into bitcoin over the next few years.
“We can acquire 5% of the world’s bitcoin supply without new spending,” Lummis explained.
However, Lummis admitted that legislative progress on the bitcoin reserve is likely to be slow, as Congress focuses on stablecoin regulation and market infrastructure. She also noted that bitcoin’s strategic importance is still not well understood by many lawmakers.
“Gaining real momentum on this will take time,” Lummis said. “Education and awareness are key.”
With growing calls for action, the crypto community awaits the U.S. government’s next move to turn strategic bitcoin reserve plans into reality.
