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U.S. Customs has released some seized Chinese ASIC miners, ending a four-year conflict over crypto equipment linked to Huawei, which remains blacklisted. Despite the release, many machines are still detained, and companies face hefty holding fees, complicating efforts to establish America as a crypto hub. The ongoing U.S.-China trade war continues to impact the crypto industry, with China supplying 98% of mining chips while the U.S. holds 38% of Bitcoin's hashrate.
U.S. Customs has released some seized Chinese ASIC miners, ending a four-year conflict over crypto equipment linked to Huawei, which is blacklisted. Despite the release, many machines remain detained, and companies face hefty holding fees, complicating efforts to establish the U.S. as a crypto hub. The ongoing trade war with China, which supplies 98% of crypto mining chips, poses challenges for American ambitions in the industry.
Trump's call for all remaining Bitcoin to be mined in the US faces significant hurdles, as experts highlight global competition and Bitcoin's decentralized nature. Currently, US miners account for less than 50% of Bitcoin's computational power, with countries like China and Russia leading due to lower energy costs and regulatory advantages. As 95% of Bitcoin's total supply has already been mined, controlling future production remains a complex challenge.
Ethan Vera
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
us customs releases seized chinese miners amid ongoing trade tensions
08:36 07.03.2025
us customs releases seized chinese miners amid ongoing trade tensions
08:36 07.03.2025
Trump's Bitcoin Mining Pledge Faces Global Competition and Practical Challenges
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