Bitmain to open first US-based ASIC chip factory: Bloomberg

Key Points

1. Bitmain plans to open its first US-based ASIC manufacturing facility in the coming months, with full-scale production expected by early 2026.

2. The company aims to hire 250 local employees and sees the US market as a 'unique opportunity' for Bitcoin dominance.

3. Bitmain, along with Canaan and MicroBT, controls nearly the entire Bitcoin ASIC hardware market, with Bitmain accounting for 82% of global production.

4. US authorities previously halted the delivery of Bitmain ASICs due to an investigation into a Chinese chip designer linked to Bitmain and Huawei.

5. The new US facility is expected to alleviate supply chain issues and regulatory challenges faced by US-based mining companies.