Trends in the supply chain shift of cryptocurrency mining equipment in the United States
Leading Chinese manufacturers of mining equipment expand into the U.S. market
On June 18, according to information from Reuters, the three largest Bitcoin mining equipment manufacturers in China - Bitmain, Canaan, and MicroBT - have established production lines in the United States. This action reflects the 'self-sufficiency' strategy in the cryptocurrency mining hardware sector while reducing dependence on Chinese supply. Currently, their market share accounts for over 90% of the global mining equipment market. Among them, Canaan has started testing production in the U.S., while MicroBT is actively promoting a localization strategy to adapt to the trade policies of the Biden administration.
U.S. government policies promote the shift of the cryptocurrency mining industry
The 'Liberation Day' policy of the Trump administration triggered this wave of relocation. U.S. cryptocurrency operators are concerned about excessive dependence on Chinese supply, especially as trade wars increasingly play a significant role in the market. Analysts warn that China's dominance in hardware supply could pose strategic risks to national security and economy. Therefore, the U.S. is ramping up restrictions on imports of products from China to balance supply and demand, update technology, and enhance independence in the cryptocurrency mining sector.
The impact of supply chain transformation on the global cryptocurrency market
The shift of the production chain of mining equipment to the United States not only affects Chinese manufacturers but also drives up the prices of mining equipment, directly impacting the profits of miners and global mining activities. Localization strategies also help enhance the competitiveness of U.S. companies in the race to develop the blockchain and cryptocurrency ecosystem. This move contributes to promoting a decentralized mining system, aiming for greater sustainability and safety for the global digital economy.
Source: https://tintucbitcoin.com/ba-ong-khong-lo-bitcoin-trung-quoc-chuyen-nha-may-sang-my-vuot-thue/
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