U.S. Tariffs on China May Push Bitcoin Mining Overseas
Bitcoin mining in the U.S. could move abroad due to higher hardware costs. A report by Hashlabs Mining CEO Jaran Mellerud explains why.
On April 9, Mellerud’s report showed that U.S. tariffs could make mining equipment 22% more expensive than in other countries. This is as U.S. miners mostly use hardware from Asia, now facing tariffs of at least 24%.
For example, China, a major supplier, now faces a 104% tariff. This makes mining less profitable in the U.S. Even with a stockpile of equipment, miners will likely pay a 22% to 36% premium.
Industry experts like Gadi Glikberg, CEO of CodeStream, agree. He says tariffs will slow U.S. mining growth. Miners may rethink expansion plans due to higher costs.
Taras Kulyk, CEO of Synteq Digital, noted that his firm rushed deliveries before the tariff hike. This shows miners are already adapting to the new costs.
U.S. miners may need to look overseas for cheaper equipment. this could change the global Bitcoin mining landscape.
