US Bitcoin Mining Set for Shake-Up as Block Unveils New Chips
Jack Dorsey, co-founder of Twitter and CEO of Block, Inc., has claimed the company’s latest Bitcoin mining chips outperform those produced in China. The statement came during Block’s Q1 2025 earnings call, where Dorsey confirmed that its Proto unit will launch the new chips on August 14, 2025, aiming to make mining hardware more accessible and reduce dependence on Chinese manufacturing.
While the United States currently leads in Bitcoin mining hash rate, China still controls the vast majority of mining equipment production. This dominance has become a strategic concern following President Trump’s tariff measures, which have added 22% to 36% to the cost of importing Chinese rigs after a 34% levy took effect in April 2025.
Dorsey responded to an X user’s question about whether Block had “out-engineered” China by stating simply, “we have,” hinting at the chips’ superior performance. The company also revealed plans to raise $1.5 billion on August 13, 2025, to fund ongoing and future projects.
Currently, more than 90% of global mining rigs come from Chinese firms such as Bitmain, Canaan, and MicroBT, leaving U.S. miners heavily reliant on imports despite leading in mining capacity. Block’s inclusion in the S&P 500 this year underscores its growing market influence, and Dorsey has repeatedly emphasised building mining hardware within the U.S.
Although a potential U.S.–China trade agreement could lower equipment prices, Block’s domestic chip production marks a significant move toward self-reliance. If successful, it could alter the balance of the Bitcoin mining industry worldwide.
