The Trump family's mining company spends $314 million to acquire 16,000 Antminer machines
In today's increasingly competitive Bitcoin mining industry, a major announcement has once again ignited the market: American Bitcoin Corp., a mining company associated with U.S. President Donald Trump's family, recently invested approximately $314 million to purchase 16,299 Antminer U3S21EXPH machines from the world's largest mining hardware manufacturer, Bitmain, with a total hash rate of 14.02 EH/s. This transaction is not only one of the largest fintech acquisitions in the hardware sector this year but also has far-reaching implications for the global Bitcoin mining landscape against the backdrop of the Trump administration's tariff policies and Bitmain's strategic adjustments.
- Trump family's mining company spends $314 million: Acquiring 16,000 Antminer machines
Massive purchase: At the beginning of August, the Trump family-associated mining company American Bitcoin Corp. purchased 16,299 Antminer U3S21EXPH machines from Bitmain for a total price of approximately $314 million.
Hash rate surge: This batch of mining machines has a total hash rate of 14.02 EH/s, which will significantly increase American Bitcoin's share in global mining and solidify its position as one of the largest mining operators in North America.
Avoiding tariffs: The agreement also excludes any price increases that may arise from the Trump administration's comprehensive trade tariffs and import taxes, which would affect Bitmain's mining hardware produced in China. American Bitcoin has locked in equipment purchases to avoid cost increases due to tariffs imposed on mining equipment made in China.
- Bitmain's strategic adjustment: Establishing a factory in the U.S. to cope with tariff pressures
To address tariff pressures, Bitmain announced plans to open its first ASIC manufacturing plant in the U.S. by the end of the year and is also considering establishing its headquarters in Florida or Texas.
Bringing manufacturing back to the U.S.: The Trump administration's strategy of using trade tariffs to bring manufacturing back to the U.S. has elicited mixed reactions. Tariffs have prompted leading mining hardware manufacturers to consider relocating at least part of their operations to the U.S. to avoid import taxes on their products.
Market share: According to a study published by the University of Cambridge, over 99% of Bitcoin mining hardware is produced by three manufacturers: Bitmain, MicroBT, and Canaan Creative. Bitmain is the largest mining hardware manufacturer globally, with a market share of approximately 82%.
Potential risks: However, critics argue that these policies could lead to inflation in the long run and may backfire. Jaran Mellerud, CEO of Bitcoin mining company Hashlabs, stated that price increases due to tariffs could lead to a collapse in demand from U.S. miners, forcing mining operations to relocate to other countries and putting U.S. miners at a competitive disadvantage, which contradicts the Trump administration's goal of bringing the crypto industry back to the U.S.
- U.S. manufactured mining machines: Block launches its first ASIC miner Proto
Block, a Bitcoin financial and payment company founded by Twitter co-founder Jack Dorsey, has officially launched its first U.S.-made Bitcoin ASIC miner, Proto. This indicates that the U.S. is also actively making strides in the mining hardware manufacturing sector.
- The mining industry responds to trade tariffs and economic uncertainty
Trade tariffs and other macroeconomic pressures have put stress on various aspects of the Bitcoin mining supply chain, as miners and hardware manufacturers adjust their economic calculations based on the changing financial landscape.
Supply chain adjustments: Trade tariffs and macroeconomic pressures have forced these manufacturers to reconsider their operations. However, analysts suggest that some manufacturers may shift production capacity to North America to continue serving the U.S. market.
Operational risks: Although American Bitcoin has not disclosed its specific deployment plans, sources familiar with the company indicate that they intend to place the machines at several large sites to reduce operational risks.
Conclusion:
The Trump family-associated mining company American Bitcoin has spent $314 million to acquire 16,000 Antminer machines, achieving a total hash rate of 14.02 EH/s. This is not only one of the largest fintech acquisitions in the hardware sector this year but also has profound implications for the global Bitcoin mining landscape against the backdrop of the Trump administration's tariff policies and Bitmain's strategic adjustments. Bitmain's establishment of a factory in the U.S. and Block's launch of U.S.-made mining machines both signal that the Bitcoin mining industry is undergoing a significant transformation driven by geopolitical and trade policies. Whether the U.S. can truly achieve a resurgence in the crypto industry and solidify its leadership position in the global Bitcoin mining sector will depend on its ability to effectively balance policy objectives with market economic laws.
Related reading: Jack Dorsey's Block aims for Bitcoin (BTC) mining equipment to achieve a 10-year lifecycle
Original article: “Trump-linked mining company spends $314M to snap up 16,000 Antminers”
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