Donald Trump

Bitcoin

Bitcoin mining hardware firm Bitmain said it has expanded its production line to the United States to improve supply chain efficiency as trade tensions continue to escalate between China and the US.
“This strategic move aims to provide faster response times and more efficient services to the North American customers,” China-based Bitmain <a data-ct-non-breakable="null" href="https://x.com/BITMAINtech/status/1866124016819339335" rel="null" target="null" text="null" title="null">said</a> in a Dec. 9 X post.
Bitmain is a crypto mining equipment manufacturer known for designing application-specific integrated circuit (ASIC) chips, with reports <a data-ct-non-breakable="null" href="https://www.bloomberg.com/news/articles/2024-08-26/trump-s-made-in-usa-bitcoin-relies-on-chinese-rig-maker-bitmain" rel="null" target="null" text="null" title="null">estimating</a> it holds as much as a 90% market share of Bitcoin miners.&nbsp;
Bitmain said the first batch of Antminer S21 Pro miners will be rolled out later this month, providing a “significant boost” to its industry partners.
<figure>
 <img alt="Mining, China, Bitmain, United States, ASIC, Donald Trump, Supply Chain" src="https://s3.cointelegraph.com/uploads/2024-12/0193add7-e90b-7942-b726-7f30563bc228" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/BITMAINtech/status/1866124016819339335" rel="null" target="null" text="null" title="https://x.com/BITMAINtech/status/1866124016819339335">Bitmain</a>
 </figcaption>
</figure>
Trade restrictions between the US and China have <a data-ct-non-breakable="null" href="https://www.youtube.com/watch?v=mldyri8qejc" rel="nofollow noopener" target="_blank" text="null" title="https://www.youtube.com/watch?v=mldyri8qejc">intensified</a> in recent weeks, with the US expanding export controls to limit the sale of high-bandwidth memory chips to China, while China announced a ban on critical mineral sales to the US.
A report in late November claimed the US Customs and Border Protection Agency had <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-customs-holds-bitmain-asic-deliveries" rel="null" target="null" text="null" title="null">delayed the delivery</a> of Bitmain’s Application-Specific Integrated Circuit (ASIC) machines at US ports of entry.&nbsp;
Some US miners have been forced to wait two months to access their Bitmain-manufactured hardware as a result.
Bitmain <a data-ct-non-breakable="null" href="https://www.bitmain.com/news-detail/bitmain-statement-364" rel="null" target="null" text="null" title="null">said</a> it hasn’t been involved in any “supply chain investigation as reported by the media recently.”
Bitmain’s expansion coincides with President-elect Donald <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-promises-crypto-election-usa" rel="null" target="null" text="null" title="null">Trump’s desire</a> for “all the remaining Bitcoin to be made in the USA,” claiming in a June 12 Truth Social post that it would help the US become “energy dominant.”
Over 44.3% of the Bitcoin network’s <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/what-is-bitcoin-hash-rate-and-why-does-it-matter" rel="" target="_self" text="null" title="https://cointelegraph.com/explained/what-is-bitcoin-hash-rate-and-why-does-it-matter">hashrate</a> is based in the US and Canada, <a data-ct-non-breakable="null" href="https://chainbulletin.com/bitcoin-mining-map/" rel="null" target="null" text="null" title="null">according</a> to The Chain Bulletin’s Bitcoin Mining Map, and four of the largest Bitcoin miners by valuation — MARA Holdings, Core Scientific, CleanSpark and <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/riot-platforms-500-million-bitcoin-investment" rel="null" target="null" text="null" title="null">Riot Platforms</a> — are also based in the US.
<figure>
 <img alt="Mining, China, Bitmain, United States, ASIC, Donald Trump, Supply Chain" src="https://s3.cointelegraph.com/uploads/2024-12/0193add7-1ec2-7b19-a8e9-4d135b6c1434" title="">
 <figcaption style="text-align: center;">
 The US is host to several Bitcoin mining hotspots around the world. Source: The Chain Bulletin
 </figcaption>
</figure>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bit-mining-dogecoin-litecoin-boosted-mining-profitability" rel="null" target="null" text="null" title="null">BIT Mining saw 3X profits mining DOGE, LTC instead of just Bitcoin</a>
Meanwhile, Trump has been communicating plans to <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-floats-idea-eliminating-federal-income-tax" rel="null" target="null" text="null" title="null">impose tariffs</a> on imports.
He said the move could eliminate federal income tax in the US. However, several economists don’t favor the idea, while other experts <a data-ct-non-breakable="null" href="https://www.cbsnews.com/news/trump-tariffs-plan-congress/" rel="null" target="null" text="null" title="null">say</a> he may face legislative hurdles in enacting such measures. Magazine:<a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/ethereum-is-poised-to-catch-up-with-bitcoin-and-solana-in-2025/" rel="null" target="null" text="null" title="null"> Comeback 2025: Is Ethereum poised to catch up with Bitcoin and Solana?</a>

Bitcoin ASIC maker Bitmain expands production line into US

Cointelegraph

Other articles published on Dec 10, 2024

Yellow Card Partners with Lightspark to Enable UMA Payments in Africa

LTC High On-chain Activity Suggests Litecoin Price Could Hit $180

South Korea Hits Record $34B in 24-Hour Crypto Trading Volume Amid Emergency Martial Law

Coinbase sticks to conservative approach as meme coins make up 20% of its 2024 listings, analyst ...

Litecoin Outpaces Dogecoin and Cardano in This Important Metric

Who is the Upcoming White House AI and Crypto Czar, David Sacks?

Join our free newsletter for daily crypto updates!