Luxor Chief Operating Officer: Trump's tariff reform will squeeze the US Bitcoin mining machine market

According to The Block, Ethan Vera, Chief Operating Officer of Luxor Technology, stated that the growth of Bitcoin mining machines in the United States will slow down as the White House imposes high import tariffs on Southeast Asian mining machines. Vera stated that US operators are exploring overseas expansion, while manufacturers are increasing domestic production capacity to serve the market. Following President Trump's announcement in April; Liberation Day; After the 90 day tariff suspension announced during the trade reform period expired, the White House finally finalized the implementation of new reciprocal tariffs on major mining machine manufacturing centers on July 31. The latest tax rate came into effect on August 7th, which includes a 19% reciprocal tariff on ASIC imports from Indonesia, Malaysia, and Thailand, bringing the total import tariff for these countries to 21.6%. Luxor, a Bitcoin mining technology and service company, operates mining pools and provides ASIC brokerage services, customized firmware, and computing derivatives. Although the United States is its largest market, Luxor still provides services to mining companies in 32 countries. The company's Chief Operating Officer stated that tariffs have reduced demand from American customers and redirected mining machines to countries with more favorable import policies, such as Canada. “ We generally expect a slowdown in US economic growth, which will lead to mining machines flowing into overseas markets with more favorable import tariffs; Vera said. “ The 21.6% tariff makes the United States currently one of the least competitive jurisdictions for mining machine imports, and miners are also considering Canada and other markets as channels for expansion. ”