The U.S.-led trade war has significantly impacted the Bitcoin mining industry, and controversies at the International Trade Commission may leave U.S. companies facing massive liabilities.
The latest Bitcoin mining report from (Miner Magazine) highlights how mining companies operate in the complex tariff environment shaped by U.S.-China trade tensions.
The report states that the White House's modifications to tariff rates for several Asian countries have resulted in an effective tariff of 57.6% on Chinese mining machines, while Indonesia, Malaysia, and Thailand stand at 21.6%.
(Miner Magazine) reveals that U.S.-listed mining companies IREN and CleanSpark received bills from the International Trade Commission due to their equipment's origin from China.
CleanSpark warns that it may face potential liabilities of up to $185 million, while IREN is engaged in litigation over a $100 million dispute with the agency.
Aside from tariffs, miner revenues are also under pressure, with network hash prices below 60PH per second and transaction fees dropping to below 1% of block rewards.
Against the backdrop of the trade war, American Bitcoin, supported by members of President Trump's family, exercised its right earlier this month to purchase over 16,000 mining machines from Chinese manufacturer Bitmain, with the agreement excluding any potential tariff price impacts.
Bitcoin mining suppliers have also been forced to adapt.
The Bitcoin mining industry faces constant pressure to adapt, with the trade war accelerating this trend, pushing miners to develop more complex import chains and diversify their supply chains.
Some analysts indicate that U.S. tariffs on mining machines may suppress domestic demand for equipment, potentially giving foreign operators a competitive edge. However, the ultimate impact will depend on the development of U.S. tariff policies.
In terms of hardware, Chinese manufacturers Bitmain, Canaan Creative, and Ebang have begun establishing facilities in the U.S. to mitigate the impact of tariff escalations.
Canaan Creative's strategy is particularly prominent: the company not only relocated its headquarters to Singapore but also announced U.S. investments to bypass trade barriers.
