Bitmain, Canaan, and MicroBT, the leading manufacturers of Bitcoin mining ASICs, are relocating production to the United States, as reported by Reuters. This move is a response to the 25% tariffs imposed on Chinese imports by the Trump administration. A study from the University of Cambridge indicates that Bitmain accounts for 82% of global ASIC production, while MicroBT and Canaan contribute 15% and 2%, respectively, giving these three companies a dominant 99% market share. The digital mining hardware sector is characterized by an oligopoly, with these firms controlling the majority of the market. The impact of tariffs has raised concerns about a potential decline in US demand for mining rigs, as manufacturers may prefer to sell excess inventory overseas at lower prices. Despite these challenges, the growing US Bitcoin industry has prompted these companies to establish a presence in the country. The ability of US production to match the pricing of Chinese ASICs remains uncertain. Read more AI-generated news on: https://app.chaingpt.org/news

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