Apr 3, 2025

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Bitcoin Mining Stocks Decline Amid Rising Tariff Concerns

Bitcoin mining is facing challenges due to recent tariffs on equipment imports. Key points include:

• Majority of bitcoin mining supply chain is based in Asia, affecting US operations.
• Bitmain Technologies holds a 90% market share and has relocated production to Indonesia, Malaysia, and Thailand.
• New tariffs range from 24% to 37% on imports from these countries.
• Bitmain plans to establish a US production line to mitigate tariff impacts.
• Mining equipment has experienced significant supply chain delays, impacting availability.
• Bitcoin mining stocks fell significantly: Marathon Digital down over 8%, Riot Platforms down around 7%, Core Scientific down about 10%.

President Trump's recent announcement complicates efforts to establish the US as a hub for bitcoin mining.