US EditionChina's Bitcoin Mining Giants Forge U.S. Path Amid Trade Tensions
- Chinese bitcoin mining giants Bitmain, Canaan, and MicroBT are establishing manufacturing units in the US as of 2024, responding to trade tensions.
- This move followed President Trump's 2021 tariff impositions and election victory, which reshaped cryptocurrency supply chains and increased costs for Chinese imports.
- The companies, which make over 90% of global bitcoin mining rigs, aim to avoid tariffs and address US security concerns by shifting production to politically acceptable hardware sources.
- MicroBT reported that it is proactively pursuing a localization approach within the US market, while Guang Yang noted that the US-China trade conflict is causing fundamental shifts in the industry, prompting a move toward sourcing hardware from regions deemed more acceptable under current political considerations.
- This production shift could reduce costs and risks tied to overdependence on Chinese hardware, while also potentially easing US-China tensions over technology and supply chain security.
33 Articles
33 Articles
China's Bitcoin Mining Giants Forge U.S. Path Amid Trade Tensions
Chinese bitcoin mining equipment makers Bitmain, Canaan, and MicroBT are establishing manufacturing bases in the U.S. to circumvent tariff impacts from the recent U.S.-China trade war. This relocation aims to reduce cost-related tariffs while addressing U.S. security concerns regarding dependence on Chinese technology.
Colorado Springs Gazette
Denver GazetteDominant Chinese makers of bitcoin mining machines set up US production to beat tariffs
By Samuel Shen and Vidya Ranganathan
Bitcoinist
95% Of Bitcoin Hardware Comes From China—Now Its Makers Are Heading To America
Three of China’s biggest Bitcoin hardware makers have quietly set up shop in the US, trying to dodge hefty import fees. Bitmain, Canaan and MicroBT together control over 90% of the world’s mining rigs. Their move comes after US President Donald Trump slapped new tariffs on Chinese goods, a shift that could reroute the very backbone of Bitcoin mining. A Race To Beat Tariffs Based on a report by Reuters, Bitmain kicked off US production in Decembe…
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