Hardware Tariffs Threaten U.S. Crypto Mining Returns, Analysts Warn
Chinese crypto rig makers’ U.S. expansion to dodge tariffs could redirect mining capital, but won’t threaten Bitcoin’s core, Luxor’s COO says.
As Chinese crypto mining rig makers Bitmain, Canaan, and MicroBT look to set up factories in the U.S. to avoid rising tariffs, Ethan Vera, Chief Operations Officer at crypto mining infrastructure provider Luxor, says the move won’t hurt Bitcoin’s network, but it could change where miners choose to invest in the future.
Bitmain began U.S. production late last year, while Canaan and MicroBT are both advancing “localization strategies” to insulate themselves from the evolving trade war, Reuters reported Wednesday. The trio now controls more than 90% of the global mining hardware…
