Core

Donald Trump

Bitcoin

Challenge

The global leader in <a href="https://ultramining.com/en/hardware/" rel="noopener noreferrer nofollow">Bitcoin mining hardware</a>, <a href="https://ultramining.com/en/manufacturers/bitmain/" rel="noopener noreferrer nofollow">Bitmain</a>, is facing new threats to its market dominance as US-based miners increasingly seek alternatives. With Bitmain commanding 90% of the market for specialized mining hardware, its position is being challenged by the potential return of Donald Trump to the White House, who has vowed to make the US a leader in the crypto world. Trump's stance, combined with ongoing geopolitical tensions, has led major Bitcoin mining companies, such as <a href="https://ultramining.com/news/en/bitcoin-mining-giant-core-scientific-prepares-for-post-bankruptcy-comeback/" rel="noopener noreferrer nofollow">Core Scientific</a> and Riot Blockchain, to diversify their hardware suppliers, moving away from their traditional reliance on Bitmain, according to <a href="https://www.bloomberg.com/news/articles/2024-08-26/trump-s-made-in-usa-bitcoin-relies-on-chinese-rig-maker-bitmain" rel="noopener noreferrer nofollow">Bloomberg.com</a>.
<img src="https://lh3.googleusercontent.com/d/1bghvH9mxgajb9BNqQL225O-jmG7YNuCh?key=1bghvH9mxgajb9BNqQL225O-jmG7YNuCh" alt="">
Core Scientific, previously a loyal Bitmain customer, has recently placed orders with a unit of Jack Dorsey’s Block Inc, signaling a shift in the market. Similarly, Riot Blockchain has begun sourcing equipment from Chinese manufacturer <a href="https://ultramining.com/en/manufacturers/microbt/" rel="noopener noreferrer nofollow">MicroBT</a>, focusing on orders produced at its US-based facilities to gain more control over the supply chain. These moves reflect a growing sentiment among US miners to reduce dependence on Chinese suppliers due to national security concerns, as highlighted by Rajiv Khemani, CEO of Auradine, another emerging competitor.
<img src="https://lh3.googleusercontent.com/d/1QkBWc-fKfu9pRULx8yNpPlsT8uzCzur3?key=1QkBWc-fKfu9pRULx8yNpPlsT8uzCzur3" alt="">
The geopolitical landscape has been a significant factor in these shifts. In response to US tariffs imposed in 2018, Bitmain relocated some production from <a href="https://ultramining.com/news/en/immersion-cooling-transforms-chinas-crypto-mining-landscape/" rel="noopener noreferrer nofollow">China</a> to Southeast Asia. However, with the US intensifying efforts to curb China's access to advanced computing technology, Bitmain’s future in the US market remains uncertain. As the US continues to lead the world in Bitcoin mining, accounting for 35.4% of the global <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">hash rate</a>, the emergence of new competitors and shifting allegiances could signal a major change in the industry’s landscape.

US Miners Challenge Bitmain’s Dominance Amid Pressure

Ultramining_Eng

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