According to PANews, Southeast Asian Bitcoin mining equipment companies faced a critical deadline of midnight on April 9. Christopher Beshore, president of Canadian freight forwarding company Sealion Cargo, described the period as unforgettable due to U.S. President Donald Trump's unexpected announcement of reciprocal tariffs. The tariffs imposed were 36% on Thailand, 32% on Indonesia, and 24% on Malaysia, countries that have become central to the assembly and distribution of cryptocurrency mining machines.
The U.S. buyers of these mining machines faced significant financial challenges unless Beshore and his team could ship the equipment before the tariffs took effect. In response, Sealion chartered five planes and coordinated dozens of trucks and barges to transport $330 million worth of equipment from the three Southeast Asian countries to the United States. Beshore noted that the potential tariff risk exceeded $80 million.
The tariff threat posed a particular challenge to cryptocurrency mining, as few U.S.-made machines can perform the high-performance computing required to profit in the competitive industry.
