American Bitcoin, also known as Bitcoin.BTCBitmain, a crypto-mining hardware manufacturer backed by the family of US president Donald Trump, has exercised its option to buy up to 17,280 ASICs, application-specific circuits, earlier in this month.
According to reports, the mining company bought a fleet from Bitmain of Antminer units U3S21EXPH, each capable of 14,02 exahashes/second (EH/s), for approximately $314million. TheMinerMag.
It also excludes the possibility of price increases by Trump’s administration. sweeping trade tariffs Import duties will affect Bitmain Mining Hardware manufactured in China.
Bitmain, in response to tariff pressures announced it would reduce the price of its products. open its first ASIC production facility By the end of this year, we plan to be in the US. Also, the company plans to establish a corporate headquarters in Florida or Texas.
The impact of trade tariffs, macroeconomic pressures and similar factors has been a concern for many years. created a strain at all levels As the financial environment changes, so do the economic calculations of miners as well as hardware producers.
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To avoid paying import taxes on their goods, the major mining hardware producers have considered moving at least some of their operations from Canada to the US.
According to Aktuell, Bitmain MicroBT and Canaan are the three largest Bitcoin hardware manufacturers. study The University of Cambridge has published a book on the subject.
Bitmain, the leading mining hardware manufacturer in the industry with a market share of 82% is by far the biggest company.
Reactions have been mixed to Trump’s plan to use trade tariffs in order to move manufacturing to the US.
Critics claim that these policies could be inflationary and have a negative impact in the end. Jaran Mellerud of BTC mining firm Hashlabs said the increases in price from tariffs can lead to an inflation. collapse in demand from US miners.
Mellerud said.
It would force mining to move to other countries, putting US miners in a disadvantageous position. This is contrary to Trump’s administration goal. reshoring the crypto industry In the United States.
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Source: cointelegraph.com
