Chinese Bitcoin Mining Giants Dodge Tariffs, Relocate to US for Profit Boom

Tariffs bite—so China's crypto miners flee west. US energy grids brace for impact.

Subheader: The Great Mining Migration

When tariffs hit, ASICs fly. Top Chinese manufacturers—once dominant in global Bitcoin mining—are now scrambling to Texas, Wyoming, and other US energy hubs. Why? Cheap power, lax regulations, and a red carpet rolled out by crypto-friendly states.

Subheader: Wall Street’s Ironic Embrace

Goldman Sachs won’t touch Bitcoin ETFs but will gladly lease warehouse space to miners. Priorities.

Closing jab: Another ‘decentralized’ win for American capitalism—where even crypto’s rebels end up paying rent to BlackRock.

Bitcoin Mining Manufacturers Bend To Tariff Scare

Moving production to the US could be a desperate attempt to escape the ongoing tariff war. According to Guang Yang, chief technology officer at Conflux Network, ““

Bitmain is the largest of the three BTC mining rig manufacturers. The company began its production pivot to the US in December 2024. The MOVE came soon after President Trump’s election victory.

Canaan began trial BTC mining rig production in the US after Trump’s tariff spree in April. According to senior executive LEO Wang, the move is inclined towards exploring alternatives as large investments become problematic under the current situation.

MicroBT, the third-largest bitcoin (BTC) mining rig manufacturer among the three, is “the others, the move is to ““

China Continues To Dominate the Mining Manufacturing Market

North America is home to 30% of the global Bitcoin (BTC) mining. Despite the US’s strong position in BTC mining, 90% of the hardware required for the complex process originates in China.

According to Frost & Sullivan, as of December 2023, Bitmain, Canaan, and MicroBT account for 95.4% of the global BTC mining hardware. This figure is in terms of computing power sold.

While China only dominates BTC mining rig manufacturing today, the country was once responsible for being the top destination for BTC mining. The Chinese government banned cryptocurrency activity in 2021 due to fears of financial instability.

President Trump has stated that he wants the crypto industry in the US to thrive. Moving production to the US could fall on Trump’s good graces.