As a seasoned analyst with years of experience tracking the cryptocurrency market, I find Bitmain’s decision to establish a U.S. production line intriguing. Given the ongoing trade tensions between China and the U.S., this move could be seen as a strategic response to potential tariffs on Chinese imports, aligning well with President-elect Trump’s plans for domestic Bitcoin mining.
In simpler terms, the well-known Chinese Bitcoin mining company, Bitmain, is growing its presence in America by starting up a domestic manufacturing facility.
In a December 9 update on their platform, Bitmain announced that this action aims to enhance their service to North American clients. By shortening delivery durations, optimizing logistics, and boosting customer support, they aim to provide a more agile and efficient experience.
The company expects to roll out the first batch of the Antminer s21 pro by the end of December.
The Antminer S21 Pro, their premier product, boasts a hash rate of 234 terahashes per second while using only 15 joules of power per terahash. Bitmain claims that this device will deliver a substantial improvement to its industry partners such as HIVE Digital and Hut 8.
Founded in 2013, Bitmain has earned the reputation as the leading producer of specialized integrated circuits, with an estimated 90% control over the Bitcoin mining equipment market, primarily due to its successful line of Antminer products.
Aside from manufacturing mining equipment, this company also manages a significant mining operation known as Antpool, which contributes approximately 20% to the total computing power used in bitcoin mining, based on statistics from blockchain.com.
In response to hold-ups in delivering their hardware to the U.S., the company’s recent action is a reaction. It seems that U.S. Customs and Border Protection has been keeping back imports of Bitmain’s Antminers, specifically the S21 and T21 series, as reported last month.
Initially, it was thought that the delays were due to Bitmain’s connections with the Chinese semiconductor company Xiamen Sophgo, a manufacturer of chips used in some of its equipment. However, Bitmain had earlier clarified that they weren’t involved in any supply chain investigations.
Bitmain’s growth of its US-based mining operations coincides with President Trump’s ambition to mine as much Bitcoin as possible within the country. He argues that this strategy will enhance America’s energy independence and decrease dependence on overseas operations.
Additionally, it’s worth noting that Bitmain is broadening its product range by teaming up with Bitcoin miner Hut 8 to create a potential new ASIC miner capable of delivering performance up to 860 Terahash per second.
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2024-12-10 10:30