A Bitcoin mining company with ties to the Trump family just made a massive purchase of computer chips, one of the biggest in the crypto world this year.
A $314 Million Bet on Bitcoin
American Bitcoin Corp. spent a whopping $314 million on 16,290 Antminer U3S21EXPH units from Bitmain, a Chinese tech giant. These super-powerful chips can generate a combined 14.02 exahashes per second – a serious boost to American Bitcoin’s mining power. They originally planned to buy even more, but acted fast to avoid higher prices due to new tariffs. This kind of huge order is pretty rare for US miners these days. While the company hasn’t said exactly where these chips will be used, they’ll likely be spread across several locations to minimize risk.
Tariffs and Political Pressure
This mega-deal happened right before the Trump administration started imposing tariffs on Chinese mining hardware. The goal was to encourage US-based production, but some experts worry these tariffs will actually hurt US miners by increasing their costs. Jaran Mellerud, CEO of Hashlabs, even warned that higher costs could kill demand.
Bitmain’s US Expansion
Bitmain, which controls a huge chunk (around 80%) of the global ASIC market, is responding to these tariffs by planning to open its first US ASIC production facility in early 2026. They’re also looking at setting up a new HQ in Texas or Florida. This move could encourage other big players like MicroBT and Canaan to do the same.
The Big Picture
The impact of these tariffs on the mining industry is still unclear, but this huge purchase shows just how much is at stake for both manufacturers and miners. For American Bitcoin, it’s a big vote of confidence in the future of Bitcoin mining, despite price swings and increased competition. For Bitmain, it’s all about adapting to political and economic changes to stay on top.