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American Bitcoin (ABTC) Secures $314 Million Bitmain Mining Rig Deal Amidst US Tariff Pressures
According to BeInCrypto, American Bitcoin (ABTC), a company supported by members of the Trump family and majority-owned by Hut 8, has finalized a significant purchase of 16,299 Antminer U3S21EXPH units from Bitmain, the world’s largest manufacturer of Bitcoin mining hardware. The total value of this acquisition is approximately $314 million, and it will provide ABTC with an additional computing power of about 14.02 exahashes per second (EH/s). This move brings ABTC closer to its target of reaching 25 EH/s.
The deal with Bitmain specifically protects ABTC from potential price increases due to new US import tariffs, which can reach up to 57.6% on Chinese mining equipment. To finance the purchase, ABTC pledged 2,234 BTC and used a previously paid deposit of $46 million. The new mining fleet will be deployed at ABTC’s main facility in Texas, which recently received power supply from Hut 8.
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| Number of Antminers | Total Value (USD) | Added Hashrate (EH/s) | BTC Pledged | Deposit Used (USD) | US Import Tariffs |
|---|---|---|---|---|---|
| 16,299 | $314,000,000 | 14.02 | 2,234 | $46,000,000 | up to 57.6% |
Bitmain, which holds an estimated 82% share of the global mining hardware market, is responding to tariff pressures by planning to open its first ASIC production facility in the US by the end of 2025 and considering a headquarters in Florida or Texas. Critics warn that these tariffs could backfire, increasing costs for US miners and potentially driving mining operations abroad, undermining the US government’s goal of crypto industry leadership.
“The most obvious effect of these tariffs? A significant increase in the prices for mining machines in the US,” said Jaran Mellerud, CEO of Hashlabs. He added that importing machines into the US now costs at least 24% more than in tariff-free countries like Finland.
- ABTC’s purchase shields it from imminent tariff hikes.
- US miners face higher costs, while global prices may drop due to excess supply.
- Bitmain is shifting production to the US to mitigate tariff impacts.
Summary: ABTC’s $314 million deal for 16,299 Bitmain miners boosts its hashrate by 14.02 EH/s and protects it from US tariffs, while industry experts warn of rising costs and potential offshoring of mining activities. (Source: BeInCrypto)
Google Acquires 8% Stake in TeraWulf for $3.7 Billion, Marking Major Entry into Bitcoin Mining Infrastructure
Coinspeaker reports that Google has made a landmark move by acquiring an 8% stake in TeraWulf, a publicly traded Bitcoin mining company, through a $3.7 billion deal. This investment does not involve direct Bitcoin purchases but represents a significant step by a major technology company into the infrastructure that powers the Bitcoin network.
TeraWulf is recognized for its energy-efficient mining operations in the US, utilizing both renewable and nuclear energy sources. Google’s investment is seen as a strategic effort to gain a foothold in the Bitcoin production process, focusing on sustainability and long-term growth in the digital economy. The deal is one of the largest by a Big Tech company in the Bitcoin mining sector and is expected to attract further institutional interest.
| Investor | Company | Stake Acquired | Deal Value (USD) | Mining Focus |
|---|---|---|---|---|
| TeraWulf ($WULF) | 8% | $3,700,000,000 | Renewable & Nuclear Energy |
The move is expected to send a strong signal to institutional investors, indicating that Bitcoin mining is now a mainstream, investable, and scalable business. The sustainability aspect of TeraWulf’s operations aligns with Google’s environmental goals, allowing the tech giant to support a “greener” Bitcoin without holding the volatile asset directly.
- Google’s $3.7 billion investment is among the largest in Bitcoin mining infrastructure by a tech company.
- TeraWulf’s operations are powered by renewable and nuclear energy, addressing environmental concerns.
- The deal is likely to encourage other institutional and tech investors to enter the mining sector.
Summary: Google’s acquisition of an 8% stake in TeraWulf for $3.7 billion marks a major shift in Big Tech’s approach to Bitcoin, focusing on infrastructure and sustainability rather than direct coin ownership. (Source: Coinspeaker)
Sources:
- Hive meldet $45,6 Mio. Gesamtumsatz, angetrieben durch den Bitcoin-Mining-Boom
- Trump-Unterstütztes American Bitcoin (ABTC) kauft Mining Rigs für 314 Mio. USD
- Tadschikistan erleidet durch illegales Krypto-Mining Verluste in Höhe von 3,52 Millionen US-Dollar
- Iranische Energiekrise verschärft sich, dadentKrypto-Mining-Betriebe dafür verantwortlich machen
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