Bitmain Launches U.S. Facility Amid Escalating U.S.-China Trade Tensions

Bitmain, the largest Bitcoin mining manufacturer by market share, , announced on Dec. 9 the launch of a new production facility in the United States. The expansion reflects the Beijing, China-based company’s strategy to solidify its presence in North America, a region responsible for nearly 45% of the global BTC network hash rate, according to Chain Bulletin data. Four of the largest BTC miners by market capitalization are also located in the U.S.: Marathon Digital Holdings ($7.45 billion), Core Scientific ($4.43 billion), CleanSpark ($3.83 Billion) and Riot Blockchain ($3.72 billion), according to Companies Market Cap data . As of 2024, Bitmain is estimated to control approximately 80% of the global market for Bitcoin mining equipment, according to BitStamp . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant