PANews reported on August 7 that Luxor Technology Chief Operating Officer Ethan Vera stated that the growth of U.S. Bitcoin mining machines will slow down as the White House imposes high import tariffs on Southeast Asian mining machines. Vera mentioned that U.S. operators are exploring overseas expansion, while manufacturers are increasing domestic capacity to serve the market.
Following the expiration of the 90-day tariff suspension announced by President Trump during the 'Liberation Day' trade reform on April 4, the White House finalized new reciprocal tariffs on major mining machine manufacturing centers on July 31. The latest tax rates took effect on August 7, which includes a 19% reciprocal tariff on ASICs imported from Indonesia, Malaysia, and Thailand, bringing the total import tariff for these countries to 21.6%.
Bitcoin mining technology and service company Luxor operates mining pools, provides ASIC brokerage services, custom firmware, and hash power derivatives. Although the United States is its largest market, Luxor serves mining companies in 32 countries. The company's Chief Operating Officer stated that tariffs have reduced demand from U.S. customers and shifted the flow of mining machines to countries with more favorable import policies, such as Canada. 'We generally expect U.S. economic growth to slow, which will lead to mining machines flowing to overseas markets with more favorable import tariffs,' Vera said. 'A 21.6% tariff makes the U.S. one of the least competitive jurisdictions for importing mining machines, and miners are also considering Canada and other markets as channels for expansion.'
