U.S. presidential candidate Donald Trump’s call for the country to dominate global Bitcoin production could lead to a booming business opportunity alongside more American-made hardware, according to analysts at investment firm AllianceBernstein.

“In view of U.S. election season and Trump’s recent push to make Bitcoin in America, we believe this could be an important tailwind for the mining sector,” Bernstein wrote.

In a Tuesday report, analysts at the firm Sanskar Chindalia, Gautam Chhugani, and Mahika Sapra estimated that the mining chips and hardware market would be “a cumulative $20 billion revenue pool over the next five years.”

Bitcoin miners are largely operations that mint new digital coins and keep the cryptocurrency’s network running. To work, such operations need expensive hardware and chips, much of which come from China. 

But Bernstein argued in today’s report that new American mining hardware companies such as Block and Auradine present “an opportunity to diversify the mining supply chain” and could lead to a gold rush. 

“We see this as favorable for our covered U.S. Bitcoin miners, with potential to improve fleet efficiency, drive lower [capital expenditures] from lower chip pricing, and spare power capacity for AI/HPC opportunities,” the report read.  

The report added that the growth of American Bitcoin miners like Jack Dorsey’s Block would help boost the industry. 

Dorsey this month announced that Core Scientific—one of the largest publicly traded Bitcoin mining firms—was the first buyer of his new Bitcoin mining chips. Dorsey and his companies are becoming increasingly Bitcoin-focused. 

“Given the rise of U.S.-based Bitcoin miners growing in scale, diversifying the supply chain away from China would be preferred, and Block’s proposition as latest generation chips manufactured in [the] U.S. could see uptake from miners other than [Core],” the report said.

Ex-president and Republican hopeful for the November elections Donald Trump said last month that he wanted “all remaining Bitcoin to be made in the USA.” 

Trump, who was previously anti-crypto, spoke at the annual Bitcoin conference in Nashville, and vowed “to ensure that the United States will be the crypto capital of the planet.”

Edited by Ryan Ozawa.