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Ruholamin Haqshanas
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Ruholamin Haqshanas
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Bitcoin mining hardware manufacturer Bitmain has announced the expansion of its production operations to the United States, citing a strategic goal of improving supply chain efficiency.
The move comes amid escalating trade tensions between China and the US, highlighting the growing need for companies to adapt to geopolitical challenges.
“This strategic move aims to provide faster response times and more efficient services to the North American customers,” the China-based company said in a December 9 post on X.
Bitmain Controls 90% of Bitcoin Mining Hardware Market Share
Bitmain is a leading developer of application-specific integrated circuit (ASIC) chips, which are crucial for Bitcoin mining.
The company is believed to control as much as 90% of the global market share for Bitcoin mining hardware.
The first batch of Bitmain’s Antminer S21 Pro devices is expected to roll out later this month, promising what the company describes as a “significant boost” to its industry partners. The development is particularly noteworthy as it comes at a time when trade restrictions between the US and China have tightened.
Recent US export controls limit the sale of high-bandwidth memory chips to China, while China has retaliated by restricting the sale of critical minerals to the US.
Reports have also emerged of the US Customs and Border Protection Agency delaying the delivery of Bitmain’s ASIC machines at ports of entry, with some US mining operators reportedly waiting up to two months for their hardware.
Bitmain has denied involvement in any “supply chain investigation,” pushing back against these claims.
This expansion aligns with US President-Elect Donald Trump’s stated ambition to make America a hub for Bitcoin mining. Trump recently advocated for the US to produce “all the remaining Bitcoin,” framing it as a step toward becoming “energy dominant.”
According to The Chain Bulletin, over 44.3% of the Bitcoin network’s hash rate is already concentrated in North America.
Texan Lawmakers Exploring Strategic Bitcoin Reserve
At the North American Blockchain Summit on the same day, the Satoshi Action Fund revealed that Texan lawmakers are exploring legislation for a Strategic Bitcoin Reserve.
The current regulatory environment reflects a shift towards pro-crypto policies, spurred by optimism following the U.S. election.
As reported, Jack Dorsey’s Block has also announced plans to ramp up investments in its Bitcoin mining initiative and self-custody Bitcoin wallet.
Last week, the company said it would reallocate resources from its canceled “Web5” project, TBD, and cut investments in the music-streaming service, Tidal, to support this move.
“We are scaling back our investment in Tidal and winding down TBD. This gives us room to invest in our bitcoin mining initiative, which has strong product market fit and a healthy pipeline of demand, and Bitkey, our self-custody wallet for bitcoin,” the company said.
