Trump tariffs could lower Bitcoin miner prices outside US, says mining exec
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The Trump administration’s sweeping tariffs could collapse US demand for Bitcoin mining rigs, which would benefit mining operations outside the country as manufacturers will look outside the US to sell their surplus inventory for cheaper, says Hashlabs Mining CEO Jaran Mellerud. “As machine prices rise in the U.S., they could paradoxically decrease in the rest of the world,” Mellerud said in an April 8 report. “The demand for shipping machines to the U.S. is set to plummet, likely nearing zero. “Manufacturers will be left with excess stock originally intended for the US market. To offload this surplus, they’ll likely need to lower prices to attract buyers in other regions,” he added. Falling mining rig prices could see non-US mining operations scale up and take a larger slice of Bitcoin’s total hashrate, Mellerud said. Source: Jaran Mellerud US President Donald Trump unveiled his administration’s “reciprocal tariffs” on nearly every country on April 2. Some of the largest crypto mining machine makers are based in countries hardest hit by the tariffs, including Thailand, Indonesia and Malaysia, which saw tariffs of 36%, 32% and 24%, respectively. Crypto mining rig makers Bitmain, MicroBT and Canaan moved to some of these countries to circumvent a 25% tariff that Trump imposed on China in 2018 during his last administration. Annual change in US tariffs on China, Indonesia, Malaysia and Thailand since 2017. Source: Hashlabs Mining Mellerud noted that Trump’s latest tariffs would mean a mining rig that initially costs $1,000 would be priced at $1,240 in the US. “Meanwhile, in Finland and most other countries, there are no tariffs, so the cost of a $1,000 machine remains unchanged.” “In an industry as cost-sensitive as Bitcoin mining, a 22% price increase on machines can make operations financially unsustainable,” he added. No coming back from Trump’s tariffs —…
Filed under: News - @ April 9, 2025 5:26 pm