President Donald Trump declared on Friday that data centers could grow into a larger industry than oil, and that the United States must not allow China to dominate either artificial intelligence or cryptocurrency. Speaking in a midterm election interview with Punchbowl News, Trump stressed that “Whoever wins the AI, just wins,” and called data centers “tremendously important” revenue generators that state governors should attract through tax cuts rather than regulation.
Trump directly tied the expansion of crypto and Bitcoin to geopolitical competition with Beijing. “We don’t want to see China take over crypto,” he said, adding that “I don’t want to see China win with AI.” He pointed out that China’s heavy reliance on coal, oil, and gas gives it an energy edge for powering massive AI infrastructure, and argued the U.S. must maintain its own leadership in both sectors. He also noted a growing trend of Bitcoin payments, saying “I’m seeing more people paying with Bitcoin; they don’t even know what cash is anymore,” and suggested that crypto reduces pressure on the U.S. dollar.
The interview came just weeks after Trump, at EPA headquarters on July 23, expanded the nonbinding Ratepayer Protection Pledge. Nearly 200 companies, utilities, and almost half of the nation’s Republican governors signed on, committing to limit electricity price hikes for households. Trump insisted that “the cost of building the new infrastructure should be borne by the corporations themselves, not by the American consumers.” However, critics dismissed the pledge as a toothless election-year move.
Public resistance is mounting. A Gallup poll showed 71% of Americans oppose construction of massive data centers near their neighborhoods, with overall support falling from 37% to 24%. Protests have erupted in Nevada over projects on public land, and Texas Governor Greg Abbott ordered temporary halts to water and power use for audits. Political analysts note that projects facing local pushback have roughly a 50% chance of being canceled. The administration’s push for abundant cheap energy and a business-friendly blockchain approach thus faces significant domestic hurdles.
