Trump Tariffs Squeeze American Bitcoin Miners Amidst Global Competition

American bitcoin miners are facing a major setback due to escalating tariffs on mining equipment imports from Asia imposed by the Trump administration. These new tariffs have significantly increased costs, impacting profitability in an already competitive industry. 🇨🇳🇺🇸 The White House retaliated with a 125% surcharge on Chinese imports following China’s recent 84% tariff on American products. Mining machines are particularly targeted, seeing duties rise from 25% to 54%, leading to price increases of 22-36%. This adds to the strain on a sector already grappling with profitability challenges and global competition.