Bitcoin hardware maker Bitmain has just announced that it is expanding its production line to the US! 🇺🇸 The move is being taken to improve supply chain efficiency amidst the escalating trade tensions between the US and China. 🔗
Bitmain is known as a market-dominating ASIC chip manufacturer with around 90% of the Bitcoin mining market share. 📈 They are planning to launch the first batch of Antminer S21 Pro this month, which is expected to provide a significant boost to their industry partners. ⚙️
Trade tensions between the US and China are heating up, with the US expanding export controls to restrict sales of memory chips to China, while China is banning sales of critical minerals to the US. 🌍 A report has suggested that Bitmain’s ASIC machines have been delayed in shipping to US ports, leaving some miners in the US waiting up to two months to receive their hardware. ⏳
However, Bitmain has insisted that they are not involved in the supply chain investigation reported by the media. 📰 Interestingly, this expansion move also aligns with Donald Trump’s desire for all Bitcoin to be produced in the US, which he believes will help the US become “energy dominant.” ⚡
Currently, over 44.3% of the Bitcoin network’s hash rate comes from the US and Canada, and some of the largest Bitcoin miners are also based in the US. 🏢 With Trump’s plans to impose tariffs on imports, many are curious as to how this will affect the crypto industry in the future. 💭