President Donald Trump's Tariffs Are Hitting Bitcoin Mining Too! Here's the Details

The US Bitcoin mining sector is facing potential disruptions following President Donald Trump's recent announcement of tariffs that will impose a minimum 10% duty on all imports starting April 5.

Bitcoin Mining Sector Braces for Fallout as Trump Tariffs Impact Supply Chains

In addition, Thailand and Malaysia, key players in the Bitcoin mining equipment supply chain, will face customs duties of 36% and 24%, respectively, starting April 9.

Many major Bitcoin mining companies are based in the United States, but their supply chains are concentrated in Asia. Bitmain, the Chinese Bitcoin mining hardware giant, has manufacturing facilities in Indonesia, Malaysia, and Thailand.

Lin, a hardware manager at US-based Luxor Technology, which offers bitcoin mining software and services, said he had to urgently move 5,600 bitcoin miners from Thailand to the US within 48 hours to avoid upcoming tariffs.

The sudden policy changes have forced mining companies to rethink their strategies. Increased import costs for mining equipment could increase operating costs, which could impact the Bitcoin network hashrate and overall mining profitability in the US.

As tensions over trade policy mount, the long-term impact on Bitcoin mining operations and supply chain stability remains uncertain.

*This is not investment advice.

Source: cryptonews.net