Core

Bitcoin

Block

Billion

The Bitcoin mining chip and <a href="https://ultramining.com/hardware/" rel="noopener noreferrer nofollow">hardware</a> industry is projected to become a $20 billion market over the next five years, according to analysts at Bernstein. Historically dominated by Chinese companies like <a href="https://ultramining.com/en/manufacturers/bitmain/" rel="noopener noreferrer nofollow">Bitmain</a>, the market is seeing new competition from U.S. companies such as Block and Auradine, which are launching advanced mining chips, according to <a href="https://www.theblock.co/post/308260/bernstein-mining-hardware-20-billion-usd-opportunity-trump-make-bitcoin-in-us" rel="noopener noreferrer nofollow">Theblock</a>.
Block, co-founded by former Twitter CEO Jack Dorsey, recently announced an agreement to supply <a href="https://ultramining.com/news/en/bitcoin-mining-giant-core-scientific-prepares-for-post-bankruptcy-comeback/" rel="noopener noreferrer nofollow">Core Scientific</a> with its new 3-nanometer ASIC mining chips, valued at $300 million. Auradine, backed by Bitcoin miner MARA, introduced its AT1500 Teraflux miners and plans to release more advanced models soon. The Teraflux 2800 series uses 3nm ASIC chips with 14J/TH efficiency. Auradine closed an $80 million Series B round in April.
Bernstein analysts expect 15-30% annual growth in <a href="https://ultramining.com/news/en/immersion-cooling-transforms-chinas-crypto-mining-landscape/" rel="noopener noreferrer nofollow">mining equipment</a> demand, driven by increasing network <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">hashrate</a> and the need for more efficient mining hardware post-Bitcoin halving. This demand represents an annual revenue opportunity of approximately $3-5 billion.
Donald Trump's recent push to "make bitcoin" in America, aiming to turn the U.S. into a Bitcoin mining superpower, could further boost the industry. Trump’s plan includes enhancing energy supply and developing the domestic shale oil market to support Bitcoin mining and ensure U.S. leadership in AI and Bitcoin.
The new U.S.-based competition in mining chips is expected to diversify the supply chain and reduce Bitmain's dominance. Innovations with open-source and customizable software, along with partnerships with U.S. miners, will likely improve fleet efficiency. Bernstein rates four public U.S. miners—<a href="https://ultramining.com/news/en/riot-platforms-to-boost-efficiency-with-midas-immersion-coolings/" rel="noopener noreferrer nofollow">Riot</a> Platforms, <a href="https://ultramining.com/news/en/cleanspark-doubles-down-on-bitcoin-mining-with-55m-expansion/" rel="noopener noreferrer nofollow">CleanSpark</a>, IREN, and Core Scientific—as outperform.

Bitcoin Mining Hardware Market to Reach $20 Billion Amid Trump’s Push

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