Key Takeaways
- Bitmain, Canaan, and MicroBT are moving some Bitcoin mining rig production to the US due to new tariffs.
- US-listed miners now contribute 31.6% of global Bitcoin hashrate, up from 21% in April 2024.
- The shift may help Chinese firms avoid tariffs but raises regulatory scrutiny in the US.
China’s top three Bitcoin mining rig producers—Bitmain, Canaan, and MicroBT—are shifting parts of their manufacturing to the United States, according to a June 18 Reuters report.
This move follows heightened trade tensions triggered by President Donald Trump’s renewed tariff policies aimed at reducing US reliance on foreign technology.
Bitmain started manufacturing in the US in December, shortly after Trump’s return to office.
Canaan is conducting early-stage trials for US-based production, while MicroBT is working on a plan to localize manufacturing and reduce tariff exposure.
90% of mining hardware
Collectively, these firms produce over 90% of the world’s Bitcoin mining machines, which are essential for validating transactions and securing the network through proof-of-work.
US hashrate reaches new highs
The relocation coincides with a surge in US-based mining power.
Mathew Sigel, VanEck’s head of digital asset research, shared data showing that the hashrate from US-listed miners has climbed to 31.6% of the global total, a record high.
This marks a significant jump from 21% in April 2024, highlighting the US’s growing dominance in industrial-scale mining.
By establishing US factories, Chinese mining firms aim to minimize tariff costs but may also face increased scrutiny from American regulators due to ongoing concerns about foreign involvement in critical infrastructure.
