The reason was the grown American customs duties and the changed policy of the US authorities in relation to Chinese companies, writes Reuters. From April 2, Trump’s Trump tariffs entered into force on the import of Chinese products in 30%. The transfer of production in the United States can reduce costs, the interlocutors of the information agency explained.
The Vice President of Development and Capital Markets Canaan Leo Wang said that manufacturers of mining equipment are interested in reducing operating costs and the cost of their products for customers. Canaan launched the first pilot production line in the United States, which last year brought up to 40% of the total revenue.
Sanjay Gupta main strategist Sanjay Gupta told Reuters that the launch of mining equipment in the United States could increase the hashrate of the Bitcoin network, as well as reduce the cost of equipment and increase the profitability of mining.
However, despite the fact that localization can reduce the dependence of American miners on Chinese imports, high labor costs in the United States and potential restrictions on technology, as in the case of Sophgo affiliated with Bitmain, create potential risks, Sanjay Gupta believes.
Earlier, Coinshares analysts said that mining bitcoins, once considered the “golden residential”, is becoming a loss for miners of the United States and Germany.
Source: Bits
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