Crypto:
34170
Bitcoin:
$87.758
% 0.37
BTC Dominance:
%60.6
% 0.17
Market Cap:
$2.88 T
% 0.24
Fear & Greed:
46 / 100
Bitcoin:
$ 87.758
BTC Dominance:
% 60.6
Market Cap:
$2.88 T

Auradine Sees Opportunity for Bitcoin Mining!

Bitcoin Mining

US President Donald Trump’s trade war with China and efforts to boost domestic Bitcoin mining could present a major opportunity for US-based mining rig manufacturers. Auradine’s chief strategy officer Sanjay Gupta emphasized the urgent need to reduce US reliance on foreign technology in Bitcoin mining.

The United States contributes over 40% of Bitcoin’s global hashrate, yet it still depends on China-manufactured mining rigs. China-based Bitmain reportedly holds up to 90% of the global Bitcoin mining hardware market share.

In 2023, US Bitcoin firms faced a major supply chain issue when thousands of Bitcoin mining rigs were held at US Customs and Border Protection. Some believed it was due to a misconception that the chips contained illegal Chinese radio frequency devices.

Trade Tensions Disrupt Bitcoin Mining Supply Chain

According to Gupta, US-China trade tensions have significantly disrupted the flow of foreign Bitcoin miners.

“These trade tensions have caused delays and uncertainty for many hardware shipments,” Gupta explained, adding that the ongoing US-China rivalry in high-end chip manufacturing has further intensified these challenges for US-based crypto miners.


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Meanwhile, Bitmain expanded its production into the US in December 2023 to improve supply chain efficiency.

Bitcoin Mining

Auradine Could Benefit from Trump’s Onshore Manufacturing Push

Auradine sees Trump’s plan to increase onshore manufacturing as an opportunity. Gupta noted that a dramatic increase in electricity demand would put pressure on the US power grid, making it more important for Bitcoin miners to operate off-grid.

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The company recently launched its Teraflux AH3880 hydro-cooled Bitcoin miner, competing directly with Bitmain, MicroBT, and Canaan.

Could US Bitcoin Mining Growth Impact Decentralization?

When asked about Bitcoin decentralization, Gupta stated that securing the network with more energy-efficient solutions in the US is a net positive. However, he acknowledged that if Bitcoin mining growth outpaces technological advancements in sustainability and decentralization, it could pose risks.

According to Hashrate Index, over 95% of Bitcoin’s global hash power currently comes from the US and China.


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