Trump tariffs could benefit non-US Bitcoin miners

The Trump administration's new global "reciprocal tariffs" may lead to cheaper cryptocurrency mining equipment for operations outside the United States, according to Hashlabs Mining CEO Jaran Mellerud.

Mellerud predicts that as US demand for mining rigs collapses due to higher prices, manufacturers will look to sell surplus inventory intended for the US market at lower prices in other regions.

This could allow non-US mining operations to scale up and capture a larger share of Bitcoin's (CRYPTO:BTC) total hashrate.

The tariffs, announced on April 2, 2025, impact major crypto mining machine producers in countries like Thailand (36% tariff), Indonesia (32%), and Malaysia (24%).

These manufacturers had previously moved operations to these countries to avoid Trump's 25% tariff on China in 2018.

Under the new tariffs, a $1,000 mining rig would cost $1,240 in the US, while remaining at $1,000 in countries without tariffs like Finland.

Mellerud notes that such a 22% price increase could make US mining operations financially unsustainable.

The US currently accounts for nearly 40% of Bitcoin's network hashrate.

While Mellerud doesn't expect US miners to unplug existing machines, he believes expansion will become "steep and uncertain," potentially leading to a loss of hashrate share.

Mellerud also suggests that even if the tariffs are reversed, confidence in long-term planning has been shaken, making major investments risky when "critical variables can change overnight."

At the time of reporting, the Bitcoin (BTC) price was $76,886.21.