The Impact of Trump's Tariffs on the Bitcoin Mining Industry Supply Chain

BlockBeats News, April 3rd, according to Bloomberg, Trump's announcement of additional tariffs has affected the Bitcoin mining industry, with many large mining companies located in the United States but with supply chains in Asia. Beijing-based Bitmain Technologies has production lines in Indonesia, Malaysia, and Thailand. Lin, hardware director at Bitcoin mining software and services company Luxor Technology, said she had to move about 5600 Bitcoin mining machines from Thailand to the United States in less than 48 hours. Trump announced on Wednesday that starting from April 5th, a minimum of 10% tariff would be imposed on all goods exported to the United States, along with additional tariffs on the 60 countries with the largest trade imbalances with the United States. Thailand and Malaysia will face harsher tariffs of 36% and 24%, respectively, which will take effect on April 9th.