American Bitcoin Buys $314M Worth of Bitmain ASICs Backed by Trump Family

American Bitcoin, backed by members of Donald Trump’s family, has purchased $314 million worth of Bitmain ASIC miners,

Bitmain Expands to U.S. as Tariffs Reshape Bitcoin Mining

Bitmain is expanding to the U.S. as tariffs and economic challenges change the Bitcoin mining industry. The move follows a $314 million deal with American Bitcoin and aims to avoid extra costs from import taxes on machines made in China.

The company purchased 16,299 Antminer U3S21EXPH units from Bitmain for around $314 million. These machines can deliver a total computing power of 14.02 exahashes per second (EH/s)

The agreement also shields the deal from any price hikes caused by the Trump administration’s trade tariffs and import duties on Bitmain hardware made in China.

Tariffs Push Top Bitcoin Mining Makers

Bitmain says it will open its first U.S.-based ASIC production plant by the end of the year to counter the impact of tariffs. The company is also considering setting up its headquarters in either Florida or Texas.

Rising trade tariffs and other economic challenges are putting pressure on the entire Bitcoin mining supply chain, forcing both miners and hardware makers to rethink their costs and strategies in the changing market.

Tariffs have pushed major Bitcoin mining hardware makers to consider moving part of their operations to the U.S. to avoid import taxes.

According to a University of Cambridge study, over 99% of all Bitcoin mining machines come from just three companies: Bitmain, MicroBT, and Canaan. Bitmain dominates the market with about 82% share, making it the largest mining hardware producer.

Critics Say Tariffs Could Backfire on U.S. Bitcoin Mining

The Trump administration’s use of tariffs to encourage manufacturing in the U.S. has drawn mixed reviews. Critics warn the policy could raise prices and hurt the industry in the long run. Jaran Mellerud, CEO of BTC mining firm Hashlabs, said higher prices from tariffs could slash demand from U.S. miners.

If that happens, ASIC makers could be left with unsold inventory, which they might offload to foreign markets at lower prices. This would shift mining activity back overseas, putting U.S. miners at a disadvantage, the opposite of the administration’s goal to bring crypto manufacturing home.