The recent trade tensions could present an opportunity for American hardware manufacturers to help ramp up onshore Bitcoin mining, according to a US Bitcoin mining supplier.
US President Donald Trump’s trade war with China and efforts to ramp up on-shore Bitcoin mining will be a boon for US mining rig manufacturers, which currently only hold a small sliver of market share compared to their major Chinese counterparts.
The United States accounts for over 40% of the Bitcoin network’s global hashrate but still leans heavily on China-made mining rigs. China-based Bitmain reportedly holds as much as a 90% market share in the Bitcoin mining manufacturing market.
“Trump’s continued focus to support the US BTC mining industry highlights the urgent need to address US reliance on foreign technology,” Auradine’s chief strategy officer, Sanjay Gupta, told Cointelegraph in a recent interview.
