U.S. Releases Seized Chinese Crypto Miners After Months of Delays
1min read U.S. Customs and Border Protection (CBP) authorities have reportedly begun releasing Chinese-made cryptocurrency mining equipment that had been seized at various ports of entry across the United States. The move comes after months of delays, during which thousands of units were held up.
Taras Kulyk, CEO of crypto mining manufacturer firm Synteq Digital, told Reuters that "thousands of units have been released" after as many as 10,000 miners were seized. He also suggested that some CBP officials may have targeted the Bitcoin mining sector out of personal dislike for the industry.
Ethan vera, chief operating officer of Bitcoin mining infrastructure firm Luxor Technology, confirmed that some held shipments are being released, but noted that this is still a minority of the total number of seized miners.
The holdup is understood to be related to Bitmain-related chip designer sophgo, which was caught up in a U.S. Department of Commerce investigation in October. The investigation involved chips ordered in Taiwan that were found in a Huawei AI processor, which is under U.S. sanctions. Sophgo has denied any business relationship with Huawei.
One company reportedly said the CBP was charging a holding fee for the 200 ASICs it was waiting to receive, with the bill exceeding $200,000. ASICs from other Chinese manufacturers were not being held by the CBP.
The actions by the CBP reportedly came at the request of the U.S. Federal Communications Commission Agency.
The release of the Chinese-made Bitcoin miners comes as the Trump administration imposed a 10% tariff on Chinese imports. The administration's tariff plans with bordering countries Canada and Mexico are still going ahead.
China supplies 98% of all chips used in crypto mining. Bitmain, the largest manufacturer, recently expanded its production line into the U.S. to better deal with delayed deliveries. The company hopes the move will provide a "significant boost" to its industry partners.
Nearly 38% of the Bitcoin network hashrate is based in the U.S., according to The Chain Bulletin's Bitcoin Mining Map. Four of the largest Bitcoin miners by valuation — mara holdings, Core Scientific, CleanSpark, and Riot Platforms — are also based in the U.S.
