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US Raises Import Tariffs on Mining Machines, Mining Companies Shift Focus to Overseas Expansion
Summary: According to The Block, the US government has imposed a 19% import tariff on Bitcoin mining machines from Southeast Asia, resulting in a total tax rate of 21.6% for machines from Indonesia, Malaysia, and Thailand. The current tax rate for machines produced in China is 57.6%, but the US and China have agreed in principle ...
According to The Block, the US government has imposed a 19% import tariff on Bitcoin mining machines from Southeast Asia, resulting in a total tax rate of 21.6% for machines from Indonesia, Malaysia, and Thailand. The current tax rate for machines produced in China is 57.6%, but the US and China have agreed in principle to extend the tariff suspension period by 90 days. Mining company Luxor Technology stated that high tariffs will hinder market growth in the US, prompting mining companies to shift to regions with lower tax rates such as Canada. Mining machine manufacturers are expanding domestic production capacity, with companies like MicroBT already establishing production lines in the US. Data shows that the US mining machine import tariff has significantly increased from 2.6% before Trump took office, making it one of the highest-cost regions for mining machine imports globally.
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Link: US Raises Import Tariffs on Mining Machines, Mining Companies Shift Focus to Overseas Expansion [Copy]
