That’s the warning from The Miner Mag’s latest Bitcoin Mining Update, which outlined the risks facing firms caught in the crosshairs of escalating tariffs.
According to the report, the White House’s recent tariff adjustments have left importers facing steep duties on mining rigs. Machines originating from China are now subject to a 57.6% tariff, while those sourced from Indonesia, Malaysia, and Thailand face a 21.6% rate.
The consequences are already hitting leading US-listed mining firms. CleanSpark disclosed it could face as much as $185 million in potential liabilities tied to a CBP dispute over equipment origins, while IREN is fighting a $100 million claim from the agency.
At the same time, mining revenues remain under pressure. The network’s hash price has been stuck below $60 per petahash a second, with transaction fees dropping to less than 1% of block rewards. Despite these headwinds, IREN and MARA Holdings each managed to produce more than 700 BTC in July.
Meanwhile, American Bitcoin, a mining venture backed by members of President Donald Trump’s family, has moved forward with a major acquisition, exercising an option to purchase more than 16,000 rigs from Bitmain. The deal, structured to sidestep tariff-related pricing, underscores how US miners are adapting to shifting trade rules.
On the supply side, Chinese hardware giants are also adjusting. Bitmain, Canaan, and MicroBT have all announced US-based operations to ease tariff impacts. Canaan, in particular, has shifted its headquarters to Singapore and revealed new US investments, reflecting a broader effort to secure market access despite rising barriers.
Analysts warn that if tariffs continue to climb, US demand for mining rigs could weaken, potentially giving an edge to operators abroad. For now, the industry remains in flux, caught between shrinking margins, growing regulatory risks, and the geopolitical weight of the trade war.
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