TechFlow news, July 30 — According to The Block, Bernstein, a research and brokerage firm, stated that the Bitcoin mining chip and hardware industry could become a $20 billion market opportunity over the next five years, particularly amid Trump's push for "Making Bitcoin in America." Although this market has historically been dominated by Chinese companies (such as Bitmain, which holds over 80% market share), the new mining chips launched in the U.S. by Block and Auradine present opportunities for supply chain diversification, advanced chip design competition, and global foundry capabilities.
In light of Trump’s recent pledge to "Make Bitcoin in America," Bernstein believes this will benefit U.S. Bitcoin miners by potentially improving equipment efficiency, reducing capital expenditures (due to lower chip prices), and enabling idle power capacity to be used for AI/HPC opportunities. Bernstein is particularly positive on large-scale mining consolidators, rating Riot Platforms, CleanSpark, IREN, and Core Scientific as outperforming the market.
