The US-led trade war is having major repercussions for the Bitcoin mining industry, with looming disputes with Customs and Border Protection (CBP) potentially exposing American companies to massive liabilities.
That was a key takeaway from The Miner Mag’s latest Bitcoin Mining Update, which examined how mining firms are navigating a complex tariff environment shaped by ongoing US-China trade tensions.
With the White House modifying tariff rates on several Asian countries, the effective duty now stands at 57.6% on China-origin mining machines and 21.6% on those from Indonesia, Malaysia and Thailand, according to the report.
The Miner Mag also revealed that two publicly listed US mining companies, IREN and CleanSpark, recently received invoices from CBP over allegations that some of their equipment originated in China
CleanSpark warned that it could face up to $185 million in potential liabilities, while IREN is contesting a separate $100 million dispute with the agency.
Beyond tariffs, the report said that mining revenues “remain under pressure,” with the network’s hash price stuck below $60 petahashes a second and transaction fees declining below 1% of block rewards
IREN and MARA Holdings each produced more than 700 BTC in July. Source: The Miner MagAmid the trade war, American Bitcoin — backed by members of US President Donald Trump’s family — exercised an option earlier this month to acquire more than 16,000 mining rigs from Chinese manufacturer Bitmain. As Cointelegraph reported, the agreement excludes any potential price impact from tariffs.
Related:Jack Dorsey’s Block targets 10-year lifecycle for Bitcoin mining rigs
Bitcoin mining suppliers are also forced to adapt
The Bitcoin mining industry faces constant pressure to adapt — grappling with rising costs, shrinking margins and growing regulatory risks. The ongoing trade war has only accelerated this trend, pushing miners to become more sophisticated importers while diversifying their supply chains.
Some analysts suggest that US tariffs on mining equipment could dampen domestic demand for rigs, potentially giving an advantage to operators abroad. The ultimate impact, however, will hinge on how US tariff policy develops.
On the hardware front, Chinese manufacturers Bitmain, Canaan and MicroBT have all begun establishing facilities in the United States to mitigate the impact of escalating tariffs.
Canaan’s strategy stands out: The company not only shifted its headquarters to Singapore but also announced US investments aimed at sidestepping trade barriers.
Magazine:Bitcoin’s invisible tug-of-war between suits and cypherpunks
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‘US tariffs on mining rigs are rising sharply’ as CleanSpark, IREN report massive liabilities
The US-led trade war is having major repercussions for the Bitcoin mining industry, with looming disputes with Customs and Border Protection (CBP) potentially exposing American companies to massive liabilities.
That was a key takeaway from The Miner Mag’s latest Bitcoin Mining Update, which examined how mining firms are navigating a complex tariff environment shaped by ongoing US-China trade tensions.
With the White House modifying tariff rates on several Asian countries, the effective duty now stands at 57.6% on China-origin mining machines and 21.6% on those from Indonesia, Malaysia and Thailand, according to the report.
The Miner Mag also revealed that two publicly listed US mining companies, IREN and CleanSpark, recently received invoices from CBP over allegations that some of their equipment originated in China
CleanSpark warned that it could face up to $185 million in potential liabilities, while IREN is contesting a separate $100 million dispute with the agency.
Beyond tariffs, the report said that mining revenues “remain under pressure,” with the network’s hash price stuck below $60 petahashes a second and transaction fees declining below 1% of block rewards
Related: Jack Dorsey’s Block targets 10-year lifecycle for Bitcoin mining rigs
Bitcoin mining suppliers are also forced to adapt
The Bitcoin mining industry faces constant pressure to adapt — grappling with rising costs, shrinking margins and growing regulatory risks. The ongoing trade war has only accelerated this trend, pushing miners to become more sophisticated importers while diversifying their supply chains.
Some analysts suggest that US tariffs on mining equipment could dampen domestic demand for rigs, potentially giving an advantage to operators abroad. The ultimate impact, however, will hinge on how US tariff policy develops.
On the hardware front, Chinese manufacturers Bitmain, Canaan and MicroBT have all begun establishing facilities in the United States to mitigate the impact of escalating tariffs.
Canaan’s strategy stands out: The company not only shifted its headquarters to Singapore but also announced US investments aimed at sidestepping trade barriers.
Magazine: Bitcoin’s invisible tug-of-war between suits and cypherpunks