China-based Bitmain reportedly holds as much as a 90% market share in the Bitcoin mining manufacturing market. “Trump’s continued focus to support the US BTC mining industry highlights the urgent need to address US reliance on foreign technology,” Auradine’s chief strategy officer, Sanjay Gupta, told Cointelegraph in a recent interview. US Bitcoin firms hit a major supply problem last year, with thousands of Bitcoin (BTC) miners held at ports of entry by the US Customs and Border Protection. One of the firms affected believed it was due to a mistaken belief that the chips were illegally imported Chinese radio frequency devices.
Gupta said his firm could also stand well-positioned amid Trump’s plan to ramp up onshore manufacturing as a “dramatic increase in demand” for electricity would, in turn, “put a tremendous deal of pressure on the electric grid” — making it more important for Bitcoin miners to operate off-grid. Auradine recently announced the launch of its new Teraflux AH3880 hydro-cooled Bitcoin miner, competing with the likes of Bitmain, MicroBT and Canaan.
The US was already competing with China to win the high-end chip manufacturing market, but the recent trade tensions have only “intensified” these challenges for US-based crypto miners, he added. China-based Bitmain is said to hold the majority of the Bitcoin mining manufacturing market.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Brayden Lindrea
The story "Bitcoin mining supplier Auradine sees opportunity in Trump policies" has 452 words across 16 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Bitcoin mining supplier Auradine sees opportunity in Trump policies" was covered 17 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 38 news stories per day.
It's most recent story was published 10 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
