Chinese BTC Mining Firm Bitmain Mulls Building First US Facility
Main Idea
Chinese Bitcoin mining firm Bitmain plans to establish its first US facility, recruiting 250 local employees and setting up a new headquarters in Texas or Florida, driven by US industrial policies and China's regulatory environment.
Key Points
1. Bitmain intends to recruit about 250 local employees for manufacturing and site-level maintenance units in the US.
2. The company plans to set up a new headquarters in either Texas or Florida, citing US crypto policies and a 'Made in USA' strategy.
3. US labor costs are higher, but Bitmain sees commercial sense in the move due to disruptions in Chinese supply chains and heightened scrutiny by US Customs.
4. Bitmain would join top US publicly-listed miners like Mara Holdings, Riot Platforms, and CleanSpark if the facility is established.
5. The US's share of Bitcoin mining hashrate surged from 4% in 2019 to 38%, with Chinese miners pivoting to the US amid regulatory and security concerns.
Description
Chinese Bitcoin mining rig manufacturer Bitmain is considering a phased strategy to establish its first US factory soon. The company would also officially set up a new headquarters in either Texas or Florida, Bloomberg reported . In the first phase, Bitmain intends to recruit about 250 local employees for manufacturing and site-level maintenance units. According to Irene Gao, Bitmain’s global business chief, the company will start its initial output in early 2026 and begin full-scale production ...
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