Trump-backed American Bitcoin has ordered 16 299 Bitmain ASIC miners

What’s new? BTC mining company American Bitcoin, backed by members of US President Donald Trump’s family, exercised an option to purchase up to 17 280 ASIC miners from Chinese manufacturer Bitmain. According to TheMinerMag, it purchased 16 299 Antminer U3S21EXPH devices with a hashrate of 14,02 EH/s for approximately $314 million.

Material by TheMinerMag

What else is known? It is noteworthy that the deal excludes a possible price increase due to large-scale trade tariffs and import duties imposed by the Trump administration, which will affect Bitmain’s mining equipment manufactured in China.

In response to the increase in fees, Bitmain announced the opening of its first ASIC miner manufacturing plant in the United States by the end of the year and its headquarters in Florida or Texas.

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The White House’s measures have prompted leading mining equipment manufacturers to consider moving at least part of their business to the US to avoid high tariffs on their products.

According to a study by Cambridge University, more than 99% of all Bitcoin mining equipment is produced by three Chinese companies: Bitmain, MicroBT, and Canaan. Bitmain accounts for about 82% of the market.

The Trump administration’s strategy of using trade tariffs to bring manufacturing back to the US has been met with mixed reactions. For example, Hashlabs CEO Jaran Mellerud said that price increases due to tariffs could lead to a drop in demand in the US.

Source: X.com

As a result, ASIC chip manufacturers will have excess inventory that they can export to other countries at lower prices. This will lead to an increase in mining volumes in other countries and put American miners at a disadvantage, which contradicts the Trump administration’s goal of bringing the crypto industry back to the US.

In June, American Bitcoin raised $220 million in funding to purchase BTC and mining equipment. And in May, it announced a merger with Nasdaq-listed Gryphon Digital Mining to accumulate Bitcoin and offer it to its shareholders through securities under the ticker ABTC.

The launch of American Bitcoin was announced by miner Hut 8 in April. Eric Trump and Donald Trump Jr. participated in it.