Trump’s Tariffs Deal a Blow to Bitcoin Mining

Bitcoin miners in the United States are set to be directly impacted by the tariffs announced on April 2 by President Donald Trump, according to industry experts.

A significant portion of cryptocurrency mining equipment is currently imported from Malaysia (new tariff rate — 24%), Thailand (36%), and Indonesia (32%), noted Mason Jappa, founder and CEO of Blockware Solutions.

This is going to have a major impact on the Bitcoin Mining industry, most of the current Bitcoin Mining Server imports were coming from Malaysia / Thailand / Indonesia. Rigs already landed in the USA will become more valuable. @BlockwareTeam

The new U.S. tariffs:

China — 34%…

— Mason Jappa (@Mason_Jappa) April 2, 2025

“Rigs already delivered to the USA will become more valuable,” he stated.

BitMars General Manager Summer Meng added China (54%) to the list. All factories of Bitmain, the largest manufacturer of bitcoin mining equipment, will be affected, she emphasized.

According to estimates by The Mining Pod experts, the China-based company holds about 80% of the ASIC miner market. Another 7% is accounted for by its Chinese competitor MicroBT, whose facilities are located in the same jurisdictions.

Both companies had previously announced plans to open production lines in the USA. However, their scale remains unknown, and chips for the rigs are still imported from abroad.

Blockware Solutions analyst Mitchell Eskew described the tariff implications as “massive.” He noted that this will lead to a reduction in imports, increasing domestic demand.

Tariffs have MASSIVE implications for Bitcoin Miners.

Except off-shore supply to get squeezed, increasing demand for on-shore miners.

If this is coupled with a BTC run we could see ASIC prices rip 5 to 10x like they did in 2021.

See this slide from the @BlockwareTeam 2025… https://t.co/IZk6dIa3xW pic.twitter.com/Y16uEJM7i5

— Mitchell ✝️?? (@MitchellHODL) April 2, 2025

“If this is coupled with a BTC run, we could see ASIC prices surge 5 to 10 times, as happened in 2021,” Eskew stated.

Some equipment suppliers are rushing to “catch the last train,” writes Bloomberg. Lauren Lin, head of equipment at service company Luxor Technology, has less than two days to ship 5,600 rigs from Thailand to the USA.

“Today we are just trying to get out of this. Ideally, we could charter a flight and deliver the devices. We will try to be as creative as possible to get them out,” she commented.

The cost of equipment constitutes a significant portion of miners’ expenses, and a more than 20% increase in procurement costs will significantly affect business profitability, she added.

CEO of Synteq Digital Taras Kulik believes the announced tariffs will “stifle further sector development.”

“If the new import duties affect key components, we will face higher capital costs for North American mining operators. This will increase pressure on an already cooling market,” said Wolfie Zhao, head of research at TheMinerMag.

During his election campaign, Trump called himself a “crypto president,” promising to make the USA the “world capital” of the digital asset industry and to globally protect the mining sector.