Written by Samuel Shen and Fidia Ranganaan
Shanghai/Singapore (Reuters) -The three best -selling bitcoin makers in the world (BTC-UsdMining machines – all of Chinese origin – create a manufacturing foothold in the United States, where President Donald Trump restores the war of tariffs.
Bitmain, Canaan and Microbt build more than 90 % of global mining platforms – mainly computers intended for numbers that produce bitcoin. The creation of US bases can protect them from customs tariffs, but the risks that raise security in the United States with China in various regions such as chips and energy security.
“The American -Chinese trade war leads to structural and not superficial changes in Bitcoin supply chains,” said Guang Yang, chief technology in Crypto Tech Conflux.
Moreover, for American companies, “this goes beyond the definitions. It is a strategic axis towards the sources of” politically accepted devices “,” Yang said.
Bitmain, the three largest through sales, began the United States production from mining platforms in December in a “strategic step” after Trump’s presidential winning a month ago.
Liu Wang, CEO of Reuters, said Canaan began experimental production in the United States with the aim of avoiding customs tariffs after Trump announced on April 2 the so -called Bouvayz on Liberation Day. He said that this initiative is exploration because the development of the volatile tariff prevents severe investment.
The third -ranked microbes said in a statement that it “is implementing an effective resettlement strategy in the United States” in order to “avoid the impact of definitions.”
The trio dominates that the sector analysts are valued at $ 12 billion by 2028. It is the source of the business series that extends through the intensive Bitcoin energy process, the infrastructure of supportive information technology and trading platforms.
Its rival in the United States Auradine – backed by the best Bitcoin miners by market value, Mara Holdings – in pressure to restrict Chinese supplies to stimulate competition in devices.
“While more than 30 % of global bitcoin mining occurs in North America, more than 90 % of mining devices stem from China represent a major imbalance in geographical demand and supply,” said Sanjay Gupta, chief strategy official in Uwradin.
Consultance Frost & Sullivan has estimated to keep 95.4 % of the hardware market in terms of computing power that was sold starting from December 2023.
“Hundreds of thousands of them are connected to the electrical network in the United States” when it comes to Chinese mining purposes, “hundreds of thousands of whom are connected to the American electrical network” are a security threat.
Wang Kanaan said that mining platforms do not threaten security because they are “useless if they are not applied to bitcoin mining.” However, manufacturers can suffer from “side effects” from US restrictions on high -tech sales of Chinese companies.
This confirms the risks, the Bitmain, Sophgo, was listed in the blacklist by the United States government for security reasons.
Bitmain did not respond to a request for comment.
The first engine
China once dominated the entire Bitcoin value chain – made with mining by mining to circulation – until its government banned the activity of the cryptocurrency on the Chinese mainland in 2021, citing risks to financial stability.
Miners, merchants and exchanges have moved abroad. However, the reserve of its role as technology manufacturers continued in the points, Canaan and Microbe in controlling devices. They partially installed Western competitors due to the first engine feature in developing high -performance chips for mining.
Since then, Canaan has moved its headquarters to Singapore from China – although it still has Chinese operations – and has established a pilot production line in the United States, a market that contributed 40 % of revenues last year.
“The logical basis is an attempt to reduce the cost of both the United States and our customers,” said Wang, Vice President of Corporate Development and Capital Markets Company. The possibility of definitions means “we have to explore all alternatives.”
This year the United States imposed a 10 % primary tariff on imports from many countries in addition to an additional 20 % on imports from China. It also mentioned that it may increase the customs tariff of Southeast Asian countries, as Chinese excavators created collection factories.
The point of suffocation
Trump has promised to be the “head of encryption”, which is filled with the use of prevailing in the United States in the United States. Son Eric Trump launched with the Energy and Technology Company HUT 8 MINERICAN Bitcoin with the aim of building a strategic Bitcoin reserves.
However, the president’s friendly policies can only highlight the huge role of China in the bitcoin infrastructure, which may put excavators in the intersection.
John Diton, a lawyer for an American encryption law, said.
“If China is restricting exports or manipulating the offer … it may be disrupted by the stability of the bitcoin and affects users and investors in the United States,” Diton said.
Ryan M. said. Younk, an economist at the American Institute of Economic Research, the largest missionary of miners by market value – MARA, Core Scientific, Cleanspark and Riot Protects – are all based in the United States, so excessive dependence on Chinese assets “is likely to be a problem.”
Crypto Platform, Kadan Stadelman, said that Chinese excavators may create a store in the United States, but in the short term, American miners will continue to buy platforms from China and are exposed to high import costs.
“But this is not a matter of harming industry. It is related to forcing a long shift,” he said.
(Shanghai Al -Akhbar reports, Samuel Shin in Shanghai and Fidia Ranganatan in Singapore; edited by Christopher Kushing)
