The US administration’s crypto-friendly move has sparked several banks, institutions, and crypto companies to launch their services in the country. The recent stablecoin legislation act, the GENIUS Act, has also driven companies to reveal their own stablecoin, driving stablecoin adoption. Reportedly, Chinese Bitcoin mining giant Bitmain now plans to open its first US Bitcoin mining factory in Florida or Texas by the end of Q3 2025. Irene Gao, the global business chief of the world’s largest maker of bitcoin mining hardware, noted that the initial production of the mining hardware is anticipated in early 2026, while full-scale manufacturing will happen later.
How Bitmain’s mining factory could boost the evolving crypto industry in the US?
The crypto landscape in the US is burgeoning with major developments rolling out from the government. The GENIUS Act for payment stablecoins has stirred the stablecoin movement, with several fintech firms eyeing stablecoin adoption. Circle, Meta, Coinbase, and Visa are on th list of companies rolling sleeves to adopt stablecoins for payments.
Tether has echoed its voice! CEO Paolo Ardoino announced their plan to launch a new dollar-pegged stablecoin in the US for interbank settlement and institutional payments. And why in the US? The evolving supportive environment of digital assets in the region! Tether already has a stablecoin called USDT, which is used globally in the crypto market; however, the upcoming stablecoin is specifically designed for US institutions and consumers.
What’s more, if Bitmain launches its mining factory, it can establish a brand in the American market, reducing dependency on Chinese supply chains. Another significant impact would be on the job markets in the US. Once the mining factory is launched, more job opportunities will likely emerge to operate the firm in the region.
Crypto waves invite crypto firms to the US
Who else will not enter a region that is cuddled by crypto-progressive regulations? There is an influx of blockchain/crypto adopting cryptocurrencies, specifically after the GENIUS Act launch. Citigroup CEO Jane Fraser declared that the banking firm is looking to develop its stablecoin and expand into tokenized deposits. Ripple Labs has applied for a banking license in the US to become a completely regulated financial institution to operate as a bank and get access to the traditional financial system. Stablecoin issuer Circle also applied for a national trust bank charter to self-custody its USDC reserves. These movements directly point to the advancing crypto environment of the US.
As the craze for crypto adoption increases, more institutions and companies are wading in slowly to the industry, adopting and launching cryptocurrencies. Apart from the US, the UAE’s VARA and the European Union’s MiCA regulatory frameworks have enticed crypto firms, institutions, and even traders and investors to join the rapidly growing crypto realm.
