U.S. Tariffs Cripple Bitcoin Mining, Push Companies to Relocate

A recent surge in U.S. tariffs on Bitcoin mining rigs has triggered significant liabilities for companies like CleanSpark and IREN, raising concerns about the sector’s economic competitiveness. These tariff hikes have led these companies to explore international relocation options as they grapple with substantial financial burdens. 21.6% tariffs imposed by the U.S. government have fueled this dilemma, forcing miners to reconsider their operational strategies in light of a less favorable competitive landscape.