BTC Mining Industry Exempt from New Trump Tariffs on Semiconductors
Asia Morning Briefing - Key Market Updates
Manufacturers of bitcoin mining equipment are exempt from new U.S. tariffs on semiconductors due to major chip producers like TSMC and Samsung having U.S. investments. Key points include:
- TSMC confirmed exemption from 100% tariffs due to its Phoenix facility.
- Samsung also received similar confirmation for its Texas fabs.
- ASICs for BTC mining, produced by TSMC and Samsung, will not be impacted.
- Bitdeer, a BTC mining company, stated it partners with TSMC and plans to establish a U.S.-based assembly factory within a year.
- The market reacted positively; the TAIEX index in Taipei is up 2.3%, with TSMC gaining 3%.
- SMIC, lacking a U.S. facility, has outperformed the Hang Seng index despite being targeted by the tariffs.
Market Movements
- BTC: Bitcoin trades at $117,386.04 after reaching an all-time high of $123K, showing signs of short-term consolidation.
- ETH: Ether is priced at $3,905.42 (+6.43%). Short-term capital flow shifted from Solana to Ether, with record highs in network activity.
- Gold: Gold is trading at $3,387, up 0.5%, amid tariff impacts on Indian oil imports.
- Nikkei 225: Japan’s Nikkei 225 is up 1.18%, with Topix hitting a record high of 3,031.78.
- S&P 500: The S&P 500 rose 0.73% to 6,345.06, driven by Apple’s investment announcement.
Elsewhere in Crypto
- SEC's case against Ripple officially concluded.
- Paxos to pay $26.5M fine related to Binance charges.
- Ripple plans to acquire payments firm Rail for $200M to enhance RLUSD.