Trump tariffs sparked rush to get bitcoin mining gear out of Asia

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Trump tariffs sparked rush to get bitcoin mining gear out of Asia - Business Standard

Quick Summary:

Crypto miners depend heavily on Chinese suppliers like Bitmain Technologies Ltd.

For crypto mining, the tariff threats are especially disruptive since there are few US-made machines that can perform the type of high-performance computing needed to make money in the competitive industry.

Taras Kulyk, CEO at mining hardware supplier and consultant Synteq Digital, said the company has fielded “a lot of inbounds about finding capacity outside the USA over the last two weeks now,” adding that it would be “extremely helpful if the tariff exemptions could be applied to our hardware and infrastructure as well.