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Trump’s latest tariff blitz is piling pressure on Bitcoin miners — and the timing couldn’t be worse. According to Braiins Chief Marketing Officer Kristian Csepcsar, the U.S. mining sector is already struggling with brutal margins. These new rules, he says, could make a bad situation worse.
Tariffs Target Equipment and Kill Profitability
Trump announced sweeping tariffs on April 2, hitting all countries with a base 10% levy and slapping extra “reciprocal” charges on key partners. Chinese mining imports now face a crushing 34% tariff on top of an existing 20%.
Csepcsar told Cointelegraph that U.S.-based miners still rely heavily on imported parts. “It’s still not possible to make the whole supply chain, including materials, U.S.-based,” he said. China’s Bitmain — the world’s biggest ASIC maker — is a key source of mining hardware and now sits in tariff crosshairs.
He added that tariffs on mining equipment had already started climbing under Biden in 2024, but “they keep getting stricter under Trump.”
Bitcoin’s Hashprice Hits All-Time Lows as Costs Climb
It’s not just about hardware. Revenue is down too. According to Bitbo data, Bitcoin’s hashprice — the dollars miners make per terahash — was sitting at $53 on March 30. That’s near all-time lows.
“Hashprice is the key metric miners follow to understand their bottom line,” he explained. “It is at all-time lows, ever.”
Other Regions Start Gaining Ground
Csepcsar also warned that regions like Russia and Kazakhstan could benefit if the trade war drags on. Lower tariffs and energy costs could lure hashrate away from the U.S.
“If we continue to see trade war, these regions… can see a major boom,” he said.
Miner Stocks Take a Hit
The market isn’t ignoring any of this. In the two days after the tariff news, shares of MARA, Riot Platforms, and Bitfarms dropped between 4% and 6%. Even Coinbase fell 4%.
If this keeps up, miners won’t just need better margins. They’ll need a miracle.
Which Are the Best Crypto Stocks to Buy?
For investors looking to find crypto stocks that best suit their needs, conducting thorough research is crucial. A helpful resource for this is TipRanks’ Compare Crypto Stocks tool. This tool allows investors to compare various crypto stocks side-by-side, examining key metrics such as performance history, valuation ratios, and analyst price targets.
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