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

On April 3rd, according to Bloomberg, Trump's announcement of imposing additional tariffs has had an impact on the Bitcoin mining industry. Many large mining companies are located in the United States but have supply chains in Asia. Bitmain Technologies based in Beijing has production lines in Indonesia, Malaysia, and Thailand. Lin, the hardware director at Bitcoin mining software and services company Luxor Technology, said that she had to move about 5600 Bitcoin mining machines from Thailand to the United States within less than 48 hours. Trump announced on Wednesday that starting from April 5th, a minimum of 10% tariff would be levied 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 respectively face harsher tariffs of 36% and 24%, which will come into effect on April 9th.