Bitmain, Canaan and MicroBT — producing over 99% of global Bitcoin mining ASICs — are launching US-based production units in response to tariffs.
Bitmain, Canaan and MicroBT — which collectively produce most of the world’s Bitcoin mining application-specific integrated circuits, or ASICs — are bringing production to the US, according to a Wednesday report by Reuters.
The shift comes in response to hefty reciprocal tariffs imposed on China by US President Donald Trump. Tariffs currently stand at 25% on products imported from China, after previously exceeding 100%.
An April study by the University of Cambridge shows that Bitmain is responsible for 82% of Bitcoin (BTC) ASIC production, MicroBT for 15%, and Canaan about 2%, giving the three companies a combined 99% share of the global market.
