Chinese Bitcoin Mining Machine Makers Shift Production to the U.S. to Avoid Tariffs
Summary
- China’s top three Bitcoin mining equipment manufacturers are ramping up production in the United States to avoid high tariffs.
- Major companies such as Bitmain, Canaan, and MicroBT announced that they are pursuing U.S. localization strategies.
- It was reported that if the supply of mining equipment from China is restricted, it could negatively affect Bitcoin stability and U.S. investors.
China’s top three Bitcoin mining equipment manufacturers are establishing production bases in the U.S. in response to President Donald Trump’s high-tariff policies.
According to Reuters on the 18th (local time), Bitmain, Canaan, and MicroBT are ramping up production of mining machines in the United States. These three companies are leading manufacturers, supplying more than 90% of Bitcoin mining machines worldwide. Among them, Bitmain, the largest, began production in the U.S. at the end of last year following President Trump’s reelection.
Canaan began trial production in the U.S. after President Trump announced high tariffs in April. MicroBT stated that it is “actively pursuing localization strategies in the U.S. to avoid the impact of tariffs.”
However, there are concerns about growing dependence on China for Bitcoin within the United States. Sanjay Gupta, Chief Strategy Officer (CSO) of American Bitcoin mining equipment manufacturer Auradine, pointed out, “More than 30% of global Bitcoin mining is taking place in North America, but over 90% of mining hardware still comes from China.”
U.S. cryptocurrency attorney John Deaton explained, “If China restricts supply, it could disrupt Bitcoin’s stability and affect American investors.”
Reporter Hyein Lee hey@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
