Trump Tariffs Might Slash Bitcoin Miner Costs Outside The US, Says Mining Exec
The Trump administration’s sweeping tariffs could collapse US demand for mining rigs and subsequently slash Bitcoin miner costs outside of the US, says Hashlabs Mining CEO Jaran Mellerud. “As machine prices rise in the US, they could paradoxically decrease in the rest of the world,” the Bitcoin mining executive wrote in an April 8 report . US Currently 40% Of Global Bitcoin Hashrate Mellerud said that the US is a major player in the Bitcoin ASIC (application-specific integrated circuit) machine market, and that the US currently accounts for 40% of the global Bitcoin hashrate. The mining executive subsequently predicted that the recent tariffs announced by President Donald Trump will lead to a 22-36% increase in the cost of the imported machines in the US. That could make operations financially unsustainable, considering how “cost-sensitive” the Bitcoin mining industry is, the mining executive added. “The demand for shipping m...