Trump's tariffs have thrown Bitcoin miners into a panic.

The 104% tariff on China announced by U.S. President Donald Trump has also hit Bitcoin mining companies. According to Blockspace Media, mining companies are quickly bringing forward their orders in anticipation of rising prices for the mining equipment they import from China.

They started renting planes at 4 times the normal price.

According to the information provided by sector managers, companies are renting planes for the transportation of these large orders at a price 2 to 4 times higher than normal, between 1.2 to 3.5 million dollars. Miners who made equipment contracts before April 5 are expected to be exempt from the new tax. However, a 10% tax will be applied to shipments that are contracted between April 5 and 9. For April 9 and beyond, this rate will vary between 24% and 104%.

Mining device production is concentrated in these countries

Bitcoin mining device manufacturers Bitmain, MicroBT, Canaan, Bitdeer, and Auradine are producing in Malaysia, Thailand, Indonesia, China, and Taiwan. The USA imposed taxes of 24%, 36%, 32%, 104%, and 32% on these countries, respectively. Bitmain and MicroBT, which hold more than 90% of the total market, had shifted production abroad following the tariff decisions on China during Trump’s first term. MicroBT also opened an assembly plant in the USA two years ago, and Bitmain launched its first assembly line in the USA in January, but these facilities account for only a small portion of the capacities of the two manufacturers.

"Comparable to the China ban in 2021"

Ethan Vera, COO of Luxor, which operates in the field of Bitcoin mining, claims that this situation poses a significant blow to the U.S. Bitcoin mining sector in the medium term. Kulyk states, "If tariffs continue, the industry's growth will definitely be hindered. It would be difficult to compete with mining companies in Canada and Russia if they can purchase equipment cheaper than you while you have to pay 36% more."

Vera also believes that the impact of customs duties on Bitcoin mining could be comparable to the period in 2021 when China banned mining. According to Vera, hash rate growth may slow down, and the distribution of hash rate may shift from the US to other countries.

Published: April 9, 2025 19:01