Three Chinese companies that dominate over 90% of the Bitcoin mining hardware market are establishing production in the U.S. in response to the tariff policies of President Trump.
Three Leading Mining Companies
According to a recent report by Reuters, the world’s leading manufacturers of Bitcoin mining hardware — Bitmain, Canaan, and MicroBT — control 95.4% of the global market. Bitmain, the largest by sales, opened a mining rig production facility in the U.S. back in December, shortly after Trump’s election victory.
Strategy Against Tariffs
Canaan started its U.S. production in April, aiming to protect itself from high tariffs imposed by Trump. Senior executive Leo Wang stated that this was a necessary move, considering the tariffs could lead to heavy investments. MicroBT is also working on a localization strategy in the U.S. to avoid tariff impacts.
Security Risks and the U.S. Mining Market
The presence of Chinese firms in the U.S. raises security concerns for the federal government regarding technology safety. U.S. crypto-law attorney John Deaton noted that reliance on Chinese hardware creates risks. Local industry players like Auradine are lobbying to restrict Chinese supplies, citing potential security threats.
Thus, the establishment of manufacturing capabilities in the U.S. by Chinese Bitcoin miners reflects companies’ attempts to adapt to the changing political landscape and the associated risks from tariffs and security issues.
