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Opinion: Trump's Tariffs Squeeze US Bitcoin Miners, Mining Companies to Face Slower Growth
BlockBeats News, August 6th, according to TheBlock, Ethan Vera, Chief Operating Officer of Luxor Technology, stated that after the White House imposed high reciprocal tariffs on Bitcoin mining machines from Southeast Asia, U.S. Bitcoin miners are preparing for a slowdown in growth. The latest tariff rate will take effect on August 7th, including a 19% reciprocal tariff on ASIC mining machines from Indonesia, Malaysia, and Thailand, bringing the total import tariff rate of these countries to 21.6%. The tariffs have led to reduced demand from U.S. customers, with mining machines flowing to countries with more lenient import policies such as Canada. Under the 21.6% tariff, the U.S. has now become one of the least competitive regions for importing mining machines, and miners are considering expanding into Canada and other markets.
Ethan Vera expects that if the tariffs significantly impact the industry's supply chain, Russia will emerge as the main beneficiary, and the global mining hash rate landscape will begin to reshape, leading to a slowdown in U.S. growth.
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