Trump's Asia tariffs takes a massive hit on Bitcoin miners originally appeared on TheStreet.

As per the latest report by The Block, President Donald Trump's latest order on global tariffs seems to be becoming a pain in the neck for the Bitcoin mining community in the U.S.

LATEST: Trump’s new tariffs slap 21%+ duties on ASIC imports, squeezing U.S. bitcoin miners and shifting rigs overseas, Luxor warns.

source: TheBlock#Trump #ASIC #Bitcoin #CryptoNews #Tariffs pic.twitter.com/8vZ6M0lv0f

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As the 90-day tariff pause deadline neared, Trump announced a slew of new global tariff rates on July 31. Among the worst-hit are the key centers of mining rig manufacturing in Southeast Asia.

For those unfamiliar, crypto mining is the process of using high-tech hardware to validate and secure transactions on a blockchain network.

Ethan Vera, the COO of a Bitcoin mining technology and services company, Luxor Technology, shared a document with The Block as per which the latest directive imposes 21.6% tariffs, including a 19% \\"reciprocal tariff,\\" on imports of application-specific integrated circuits (ASICs) from Indonesia, Malaysia, and Thailand beginning Aug. 7.

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ASICs are chips that are designed to execute a specific task extremely efficiently such as crypto mining, as opposed to general-purpose processors like central processing units (CPUs) or graphics processing units (GPUs).

As per the report, U.S. tariffs on imports from China, a major hub of mining rig manufacturing, stand at a staggering 57.6%, which includes a 10% baseline reciprocal tariff and an additional country‑specific tariff of 20%. Anyway, the tariff pause deadline between the two countries is set to expire on Aug. 12, and there has been no breakthrough so far.

While still lower than earlier rates, the current tariffs are significantly higher than the 2.6% tariffs on ASICs imported from the Southeast Asian countries before Trump's second term. However, Chinese machines even earlier used to face an additional 25% ad valorem rate.

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Vera said, \\"At 21.6% tariffs, the U.S. is now one of the least competitive jurisdictions to bring machines in, and miners are looking at Canada and other markets to expand too.\\"

However, the new trade conditions could also lead to a rise in the prices of U.S.-based used ASIC machines in the face of high tariffs on imported rigs, he explained.

Though Luxor is excited about the production of mining rigs in the U.S., it warned fully onshoring the manufacturing could take years because most of the raw materials are still imported from Asia. The mining company expected the Trump administration to exempt the mining equipment from tariff hikes in order to encourage the domestic crypto industry.

Trump's Asia tariffs takes a massive hit on Bitcoin miners first appeared on TheStreet on Aug 6, 2025

This story was originally reported by TheStreet on Aug 6, 2025, where it first appeared.