Latest report suggest that the top three Chinese Bitcoin miners – Bitmain, Canaan and MicroBT – are all shiting base to the United States amid the fears of Trump tariff crackdown. The tariff impact is once again redefining the region’s supply chain. Furthermore, with Trump’s crypto-friendly policies and his last year’s election pledge to produce all Bitcoins in USA, could also benefit these Chinese miners.
Bitmain, Canaan and MicroBT, who dominates a massive 90% of the global Bitcoin mining rigs, and now considering setting up a base in the United States. This shows that Trump tariffs are weighing big on Bitcoin miner manufacturers, as well as leading to the recent crypto market volatility.
However, establishing U.S. bases could help avoid tariffs but may heighten U.S. security concerns related to China, spanning sectors such as chip manufacturing and energy security, reported Reuters. Guang Yang, chief technology officer at crypto tech provider Conflux Network said:
“The U.S.-China trade war is triggering structural, not superficial, changes in Bitcoin’s supply chains”. Moreover, for U.S. firms, “this goes beyond tariffs. It’s a strategic pivot toward ‘politically acceptable’ hardware sources”.
Bitmain, the largest manufacturer of Bitcoin mining rigs, began U.S. production of mining rigs in December, describing it as a “strategic move” following Donald Trump’s presidential election victory the previous month.
Similarly, Canaan initiated trial production in the U.S. to circumvent Trump tariffs following the “Liberation Day levies” on April 2, senior executive Leo Wang told Reuters. On the other hand, MicroBT, ranked third, stated it is “actively implementing a localisation strategy in the U.S.” to “avoid the impact of tariffs”.
Backed by MARA Holdings, U.S. Bitcoin miner and producer of mining rigs, Auradine, has been lobbying for restrictions on Chinese supplies to boost competition in the hardware sector. Auradine’s chief strategy officer, Sanjay Gupta said:
“While over 30% of global bitcoin mining occurs in North America, more than 90% of mining hardware originates from China representing a major imbalance of geographic demand and supply”.
Gupta described the presence of “hundreds of thousands” of Chinese mining rigs connected to the U.S. electrical grid as a significant security risk.
Although the US-China deal concluded last week, the impact of Trump tariffs continues to hover around.
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