Trump tariffs could slash Bitcoin miner prices abroad, warns mining exec
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Trump’s tariffs may shift mining rig supply and boost operations outside the U.S. U.S. Bitcoin mining stocks lost $12B amid falling confidence and market instability. Donald Trump’s proposed tariff plans have sent ripples through the crypto sector, with the mining industry now bracing for a potential fallout. In a recent analysis by Hashlabs Mining CEO Jaran Mellerud, it’s suggested that the U.S. market could see a sharp decline in demand for Bitcoin [BTC] mining rigs due to soaring equipment costs. As American miners face higher prices, manufacturers may shift surplus inventory to global markets. This could create a boom for international mining operations. The report added, “As machine prices rise in the U.S., they could paradoxically decrease in the rest of the world. The demand for shipping machines to the U.S. is set to plummet, likely nearing zero.” U.S. loses, but other countries gain Mellerud noted reduced interest from U.S. miners, leaving manufacturers with an oversupply of rigs meant for America. To address this surplus, manufacturers may cut prices and focus on emerging markets abroad. Previously, producers like Bitmain, MicroBT, and Canaan moved operations to Southeast Asia to avoid earlier tariffs on China. Ironically, these countries now face new tariffs. Thailand, Indonesia, and Malaysia are hit with rates of 36%, 32%, and 24%, respectively. Tariffs push U.S. rig prices up According to Mellerud, Trump’s new tariff policy could lead to a sharp price hike for mining hardware in the U.S., with a $1,000 rig now costing around $1,240 due to added import duties. Source: Hashlabs report He also expressed doubts when he said, “Even if these tariffs are rolled back within a few months, the damage is done — confidence in long-term planning has been shaken. Few will feel comfortable making major investments when critical variables can change overnight.” While many…
Filed under: News - @ April 9, 2025 11:20 pm