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 President Trump, which previously exceeded 100%. A study from the University of Cambridge indicates that Bitmain accounts for 82% of ASIC production, MicroBT for 15%, and Canaan for 2%, collectively dominating the market with a 99% share. The digital mining hardware sector is characterized by an oligopoly, with these three companies holding significant power. The tariffs may lead to a decline in US demand for mining rigs, potentially benefiting foreign operations as manufacturers seek to offload excess inventory at lower prices. However, the growing US Bitcoin market has prompted these companies to establish a presence in the country to mitigate tariff impacts. It remains uncertain if US production can match the pricing of Chinese-made ASICs, especially after past customs issues faced by Bitmain. Read more AI-generated news on: https://app.chaingpt.org/news

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