Trump's tariffs see makers of Chinese bitcoin-mining machines eye US production
Bitmain, Canaan and MicroBT build over 90 per cent of global mining rigs – essentially computers dedicated to number-crunching that produces bitcoin. Establishing US bases could shield them from tariffs but risks stoking security concerns the US has with China in areas as varied as chipmaking and energy security.
'The US-China trade war is triggering structural, not superficial, changes in bitcoin's supply chains,' said Guang Yang, chief technology officer at crypto tech provider Conflux Network.
Moreover, for US firms, 'this goes beyond tariffs. It's a strategic pivot toward 'politically acceptable' hardware sources', Yang said.
Bitcoin-mining computers in Bitmain's mining farm. Photo: Reuters
Bitmain, the biggest of the three by sales, started US production of mining rigs in December in a 'strategic move' following Trump's presidential electoral win a month earlier.
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