Japan Starts Anti-Dumping Probe Into Chinese, Korean Steel Goods
The investigation, which is expected to be complete within a year, will probe flows of hot-dipped galvanized coil, sheet and strip, the trade and finance ministries said in a statement on Wednesday. The decision follows an application in April by four firms, including Nippon Steel Corp. and Kobe Steel Ltd.
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Jack Dorsey declares victory over China in Bitcoin mining chip race
Jack Dorsey declares victory over China in Bitcoin mining chip race originally appeared on TheStreet. Twitter co-founder and Block, Inc. (NYSE: XYZ) boss Jack Dorsey thinks his team has outdone China in Bitcoin mining chips. Bitcoin mining is the process of using high-end computers to solve cryptographic functions, validate BTC transactions, and add blocks to the network in return for BTC rewards. Dorsey's fintech venture Block has increasingly adopted Bitcoin over the years, and its unit Proto is dedicated to Bitcoin mining. Proto, aiming to decentralize the supply of Bitcoin mining hardware and the distribution of hash rate, is expected to launch a suite of mining chips on Aug. 14. An X user wondered if Dorsey's Proto has "out engineered" China on Bitcoin mining chips, as it would turn the industry upside down. Dorsey simply responded, "we have." On Aug. 13, Block made another major announcement that it will privately raise $1.5 billion for general corporate purposes. How does Trump's China tariff policy affect Bitcoin mining? While the U.S. is the leading Bitcoin mining country in terms of hash rate, it is China that takes the lead in manufacturing mining rig equipment. The world's three largest manufacturers of Bitcoin mining machines, namely Bitmain, Canaan, and MicroBT — all of Chinese origin — build over 90% of global mining rigs. Bitcoin miners, including those based in the U.S., are highly dependent on the mining hardware supply from China. But President Donald Trump's aggressive tariff policy targeted toward China has the U.S. mining industry concerned about its prospects. This is where domestic players like Block come like Block, which recently joined the S&P 500 list, can manufacture Bitcoin mining rigs in the U.S. Co-founder and chairman Dorsey even said during the Q1 2025 earnings call, 'We're building in the United States.' Block's efforts notwithstanding, it will take a few years for the complete onshoring of the Bitcoin mining manufacturing. U.S. manufacturers of mining rigs face the dual challenge of exceeding or at least meeting China's product quality and undercutting its manufacturing costs. The onshoring process could also potentially come to a pause if the U.S. and China reach a long-term consensus on the tariff policy which doesn't put a heavy tax burden on imports of Chinese mining chips. Jack Dorsey declares victory over China in Bitcoin mining chip race first appeared on TheStreet on Aug 13, 2025 This story was originally reported by TheStreet on Aug 13, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24 minutes ago
- Yahoo
Senior analyst says Coinbase is a clear winner over Circle
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Fox News
26 minutes ago
- Fox News
'OUT OF BODY EXPERIENCE': Stephen Moore Describes His Experience Presenting Economic Data With Trump
Stephen Moore, Distinguished Fellow in Economics at the Heritage Foundation, founder of Club for Growth, Writer for the WSJ, and author of 'The Trump Economic Miracle: And the Plan to Unleash Prosperity Again,' joined the Guy Benson Show today with Pete Mundo to discuss his experience presenting economic data with President Trump in the White House. Moore described the experience as 'surreal,' and he shared a funny encounter he had with Trump while at 1600 Pennsylvania Avenue. Moore also projected future economic deals and ways of handling a 'dangerous' China economically, and you can listen to the full interview below. Listen to the full interview below: Listen to the full podcast below:
