Bitmain Expand: US Manufacturing, Vietnam Meets Upbit, and More

Welcome to the Asia Pacific Morning Brief—your essential digest of overnight crypto developments shaping regional markets and global sentiment. Grab a green tea and watch this space.

Chinese mining giant Bitmain expands operations with US manufacturing plans while Vietnam’s government embraces crypto regulation through Dunamu partnerships. Meanwhile, the FBI strikes ransomware criminals and Japan pioneers NFT vending machines, marking significant blockchain adoption milestones as companies expand globally.

Bitmain Expands US Operations with First ASIC Manufacturing Plant

Chinese Bitcoin mining giant Bitmain will establish its first US manufacturing facility by early 2026, Bloomberg reported. The world’s largest ASIC chip producer plans to open its headquarters in Texas or Florida by the third quarter of 2025. Global business chief Irene Gao said Bitmain’s expansion will accelerate delivery and repair times for American customers.

Bitmain controls 82% of global Bitcoin ASIC production alongside competitors MicroBT and Canaan, who hold 15% and 2% respectively. The company will hire 250 local workers initially for manufacturing and facility maintenance roles. This expansion follows favorable crypto policies under the Trump administration and addresses previous regulatory challenges.

The move comes after US authorities seized thousands of Bitmain ASICs in November 2024 over sanctions concerns. Producing domestically offers a solution to ongoing regulatory issues while capitalizing on America’s Bitcoin mining boom. Full-scale manufacturing is anticipated by the end of 2026.

FBI Strikes Chaos Ransomware Group

The FBI seized $2.4 million worth of Bitcoin from cybercriminal “Hors” of the Chaos ransomware group. The Dallas-based FBI operation confiscated 20.28 BTC in a significant victory against international cybercrime. Chaos emerged in February 2025 as a dangerous new threat linked to the BlackSuit gang.

The group specializes in double extortion attacks across multiple countries, including the United States and the United Kingdom. Their sophisticated ransomware-as-a-service model targets Windows, Linux, and network storage systems with advanced encryption capabilities. This successful seizure demonstrates law enforcement’s growing ability to track cryptocurrency transactions despite anonymity measures.

Dunamu Meets Vietnam PM Over Crypto Market Expansion

South Korean crypto exchange Upbit’s parent company, Dunamu, met with Vietnamese Prime Minister Pham Minh Chinh in Hanoi. According to Vietnamese state media, Vice Chairman Kim Hyung-nyeon discussed strategic partnerships for Vietnam’s digital asset ecosystem development and regulatory framework establishment. The meeting included Hana Financial Group executives exploring blockchain-based asset management platforms.

Vietnamese Prime Minister Pham Minh Chinh met with Kim Hyung-nyeon, Vice Chairman of Dunamu, the parent company of Upbit. Source: Voice of Vietnam

Dunamu promised comprehensive cooperation, including technology transfer, infrastructure development, and talent cultivation based on global regulatory experience. Prime Minister Chinh instructed the Finance Ministry to lead pilot operation resolutions while directing central bank support. Vietnam plans comprehensive institutionalization, including regulatory sandboxes, tax systems, and investor protection standards for balanced industry growth.

Upbit ranks as the world’s fourth-largest cryptocurrency exchange by trading volume according to CoinMarketCap data.

Japan Launches World’s First NFT Vending Machines

Japanese company 24karat partnered with Dapper Labs to sell sports NFTs through nationwide AIICO vending machines. The world-first initiative brings digital collectibles, including NBA Top Shot, to physical retail locations. Customers tap touchscreens and scan QR codes for wallet-free purchases without blockchain knowledge required.

The image shows an actual vending machine deployed at TV Asahi headquarters in Roppongi Hills in Tokyo. Customers tap touchscreens and scan QR codes for wallet-free purchases. Source: 24karat

Shigeki Mori contributed.