American Bitcoin, Backed by Trump Family, Secures $314M Bitmain ASIC Order

The company exercised an option to acquire 16,299 Bitmain Antminer U3S21EXPH units delivering 14.02 EH/s, while Bitmain plans its first US-based ASIC production facility with potential headquarters in Florida or Texas.

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Summary

American Bitcoin, supported by Trump family members, exercised an option to purchase 16,299 Bitmain Antminer U3S21EXPH units for approximately $314 million, achieving a total mining power of 14.02 EH/s. The deal avoids tariff-induced price hikes, and Bitmain announced plans to launch its first US-based ASIC facility by year-end, possibly establishing headquarters in Florida or Texas.

Terms & Concepts
  • ASIC: An Application-Specific Integrated Circuit designed for efficient cryptocurrency mining by performing dedicated computing tasks.
  • EH/s: Exahashes per second, a unit measuring the total computational power used in cryptocurrency mining.