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šŗšø U.S. Bitcoin Mining Slows After New Tariffs
Bitcoin miners in the U.S. are pulling back after the government added new taxes on mining machines from Southeast Asia.
š ļø Whatās New?
Starting August 7, a 19% tariff will apply to mining machines from Indonesia, Malaysia, and Thailand, raising total import taxes to 21.6%.
š What This Means
U.S. miners are buying less equipment.
Many are turning to Canada, where taxes are lower.
The U.S. is becoming less attractive for mining.
š Global Shift
Ethan Vera (Luxor Technology) says if this continues, Russia could rise as a major player in Bitcoin mining.
š§¾ In Short:
High import taxes = slowdown in U.S. mining, and a shift to Canada and Russia.
#Bitcoinmining #UStariffsš„ #CryptoNewss #BinanceSquare #ASICM
$MYX $PROVE
š ļø Whatās New?
Starting August 7, a 19% tariff will apply to mining machines from Indonesia, Malaysia, and Thailand, raising total import taxes to 21.6%.
š What This Means
U.S. miners are buying less equipment.
Many are turning to Canada, where taxes are lower.
The U.S. is becoming less attractive for mining.
š Global Shift
Ethan Vera (Luxor Technology) says if this continues, Russia could rise as a major player in Bitcoin mining.
š§¾ In Short:
High import taxes = slowdown in U.S. mining, and a shift to Canada and Russia.
#Bitcoinmining #UStariffsš„ #CryptoNewss #BinanceSquare #ASICM
$MYX $PROVE
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