Based on a report by Reuters, Bitmain kicked off US production in December, one month after Trump’s election victory. Canaan followed on April 2 with trial runs. MicroBT says it’s “actively implementing a localization strategy in the US.”
Analysts see the market growing at 15% CAGR, to hit nearly $12 billion by 2028. With that kind of money on the table, it’s no surprise Chinese outfits dominate.
Conflux Network’s CTO Guang Yang warns the trade fight isn’t just about money. He says it’s also about “politically acceptable” hardware.
Some fear Chinese‑built machines—even if assembled in the US—could hide backdoors or tricky firmware.
But beating firms with years of experience and state‑of‑the‑art fabrication ties won’t be easy. And right now, US miners need rigs in hand, not promises of future prototypes.
Miners say they’ll enjoy faster deliveries and dodge sudden cost hikes. Yet deeper questions linger. Will this shift spark real innovation in US chip design, or simply turn Chinese blueprints into “Made in USA” labels?
Some industry watchers think the latter. They point to past moves in solar panels and telecom gear, where assembly moved overseas without true tech transfer.
Featured image from Coinbase, chart from TradingView
