US Crypto Miners Rush to Import Rigs Amid 90-Day Tariff Pause

US crypto miners are expected to take advantage of the recent 90-day pause in tariffs imposed by the Trump administration by stocking up on mining rigs. However, industry executives caution that the remaining 10% baseline tariff will still put US miners at a disadvantage compared to their international competitors. The pause, announced by President Donald Trump, halts the hefty reciprocal tariffs until July 8, but maintains a minimum 10% tariff on most countries, with China facing a 145% rate.

Jaran Mellerud, CEO of Hashlabs, pointed out that while the 10% levy is much lower than the initial tariffs, US miners still face a "clear disadvantage" when purchasing mining machines. He explained that the baseline tariffs, though not enough to make mining unprofitable in the US, will increase capital expenditure and impact the long-term viability of new investments. Mellerud expects a short-term spike in machine imports as miners rush to get ahead of potential future tariff hikes.

Ethan Vera, chief operating officer at Luxor Technology, also noted that US miners are already experiencing a price hike on crypto mining rigs. Vera mentioned that US-landed machines and contracts with onshore assembly have seen price increases, prompting miners to purchase machines ahead of potential further tariff hikes in 90 days.

The tariff instability has raised concerns about the future of US Bitcoin mining growth. Mellerud, in an April 8 report, predicted that Trump’s levies could collapse US demand for mining rigs, benefiting non-US mining operations as manufacturers seek cheaper markets. The sudden pause in tariffs, while offering some relief, has added uncertainty for US Bitcoin mining firms looking to plan and scale their operations. Vera noted that the policy changes will likely hinder growth in the US, prompting Luxor to consider expanding into international markets for future growth.

Despite the tariffs, Trump has expressed a desire for all remaining Bitcoin to be "made in the USA." Several members of Trump’s family have partnered with Bitcoin mining firm Hut 8 to lead the venture "American Bitcoin," aiming to build the world’s largest Bitcoin mining firm with strategic reserves. However, Vera noted that the crypto mining industry is not a high priority for the Trump administration, and the tariffs have had a broader impact on various markets, including crypto markets and Bitcoin.