According to TheBlock, Luxor Technology chief operating officer Ethan Vera said that U.S. bitcoin miners are bracing for slower growth after the White House imposed high reciprocal tariffs on bitcoin miners from South East Asia. The latest tariff rates, which will take effect on August 7, include a 19% reciprocal tariff on ASIC miners from Indonesia, Malaysia and Thailand, bringing the total import tax rate from these countries to 21.6%.
Tariffs have led to less demand from US customers, with miners moving to countries with more relaxed import policies such as Canada. With the 21.6 per cent tariff, the US is now one of the least competitive regions for imported miners, and miners are considering expanding in Canada and other markets. If tariffs hit the industry supply chain across the board, EthanVera expects Russia to be the main beneficiary, the global mining computing power landscape will start to reshape, and growth in the US will slow.
Opinion: Trump tariffs squeeze U.S. bitcoin miners, miners will welcome slowing growth
2025-08-06 14:45:54
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