US Bitcoin Miners Prepare for Business Disruptions Due to China Tariffs

via- https://cryptonews.com/news/bitcoin-miners-us-tariffs-escalate-disruption/

Bitcoin (BTC) miners in the United States are preparing for business disruptions as the trade war between the US and China continues.

On Thursday, April 9 the White House announced that the 125% import tax on China was in addition to a 20% tariff that President Trump imposed for China’s role in supplying fentanyl to the US. President Trump clarified that he has raised tariffs on Chinese goods by a total of 145% since taking office.

Bitcoin Miners Face Increasing Buildout Costs
While Trump’s newly enforced tariffs with China are having a major impact on the S&P 500, Bitcoin miners are also being hit hard.

The US is heavily reliant on Bitcoin mining hardware produced in Southeast Asia, especially by companies like Bitmain, MicroBT, and Canaan.