China dominates the hardware market for cryptocurrency. Now you will do it from the US

The US is a critical market for Chinese criptodiviss mining hardware manufacturers. In fact, it is The most important on the planet. And it is for several reasons. The most obvious is that the country led by Donald Trump brings together a good part of the operators that They are dedicated to cryptocurrency because it offers them the ideal conditions to carry out this activity. Many of them have been installed in Texas, North Dakota, Georgia and other states of this country because electricity in them has a very competitive price.

In addition, some investment funds and American venture capital companies finance operators that are dedicated to mining. In fact, its support has acquired such size that companies such as Riot Platforms or Digital Marathon, which buy a large amount of hardware for mine, traded in the stock market. And we cannot ignore that in 2021 the Chinese government prohibited mining and transactions With cryptocurrencies, which forced Chinese operators to move to a country that offered them more favorable conditions.

Tariffs are restructuring the mining hardware market

The prohibition of the Chinese mining government and transactions with cryptocurrency in mid -2021 triggered an exodus of the operators. Many of them moved to the US, but this does not mean that no one is undermining in China. In fact, this last country still represents approximately 20% of Hashrate Bitcoin Global, so it only exceeds the US. What happens is that currently in China this activity is carried out in a clandestine way.

An important note before moving forward: the Hashrate or the rate of hash It measures the calculation power used to undermine cryptocurrencies. The higher this value, the greater the calculation capacity of a system or an infrastructure. Whatever it is important that we keep in mind that China is not only the place of origin of many operators that are dedicated to cryptodivine mining; A good part of the companies that are dedicated to the manufacture of mining hardware are Chinese. In fact, The three that sell the most come from China.

Bitmain, Canaan and Microbt produce more than 90% of mining equipment sold on the planet. And all three are making new facilities in the US with one purpose: dodge tariffs that the government led by Donald Trump has deployed so as not to lose competitiveness in the US market. These are the three most relevant Chinese companies, but, According to Reutersmany more companies from this Asian country are being installed in the US with the aim of continuing to compete with guarantees in this market.

However, this does not mean that Chinese hardware manufacturers for mining are abandoning China. They are not doing it. Its plan is to supply the US market thanks to its factories installed in the US and compete in the other markets on the planet with the production of its plants in China. “Although more than 30% of Bitcoin’s global mining occurs in North America, More than 90% of the hardware comes from Chinawhich represents a great imbalance between demand and supply “, SANJAY GUPTA holdsStrategy Director of the American Hardware manufacturer for Auradine Mining. This is the heart of this matter. All probability this imbalance will be corrected, but mining hardware will continue to be mostly in the hands of Chinese companies. Although they reside in the US.

Image | David McBee

More information | Reuters

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