Bitmain, Canaan and Microbt, which together produce most of the world’s Bitcoin mining applications-specific integrated circuits or ASICs, will bring production to the United States, a Reuters report Wednesday said.
this Transfer Response Huge reciprocal tariffs imposed on China US President Donald Trump. Current tariffs Stand up Previously, after more than 100%, 25% of the products imported from China.
April study Authors at the University of Cambridge show that Bitman causes 82% of Bitcoin (BTC) ASIC production, Microbt accounts for 15%, and Canaan is about 2%, and the three companies have a total of 99% of the global market share.
“The digital mining hardware market exhibits an oligopoly structure, with the top three manufacturers (Bitmain, Microbt and Canaan) directing 99% of the market share,” the study wrote.
Related: Trump’s tariffs have squeezed Bitcoin miners – Brians executive
The impact of geopolitics on Bitcoin mining
Since Bitcoin is a global network, this is not the first time geopolitics plays a role in mining the world’s first cryptocurrency. Hashlabs Mining CEO Jaran Mellerud said in early April Extensive tariffs from the Trump administration could cause U.S. demand for bitcoin mining rigs to collapse.
According to Mellerud, the tariffs will benefit mining operations outside the U.S. as manufacturers want to sell their remaining inventory at a lower cost. Nevertheless, as the U.S. bitcoin industry flourished, these companies chose to enter the country to mitigate the economic impact of tariffs.
The US-based production is able to produce Bitcoin mining ASICs at a price comparable to those made in China.
Related: US mining companies feel supply starts with delays in Bitmain shipment
Bitmain through the United States’ headache
Bitmain, the world’s top Bitcoin mining ASIC producer, may also be seeking to prevent further problems in American customs. As early as late November 2024, the U.S. Customs and Border Protection stopped Deliver thousands of Bitmain Asics.
This comes after the October investigation by U.S. authorities on Chinese chip designers Xiamen Sophgo about the so-called business relationship With the U.S. approved company Huawei. The company supports Bitmain’s ASIC manufacturing business, which has led to action targeting the mining giant.
Only in early March Issued mining hardware About 10,000 ASICs were caught.
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