Trump's tariffs have caused a "life-or-death race" in the Bitcoin mining market

PANews reported on April 17 that according to Jinshi, in about a week, Bitcoin mining companies in Southeast Asia are facing a suffocating deadline: midnight on April 9. Christopher Bescher, president of Canadian freight forwarding company Sealion Cargo, said, "That time will definitely be etched in my memory for the rest of my life." Trump unexpectedly announced a reciprocal tariff plan, imposing tariffs of 36%, 32% and 24% on Thailand, Indonesia and Malaysia, respectively. These three countries have become centers for the assembly and distribution of crypto mining machines. American buyers of these "mining machines" face a major economic blow-unless Bescher and his staff can ship them out before the tariffs take effect on April 9. In the subsequent frenzy, Sealion rented five planes and supervised dozens of trucks and barges to transport $330 million worth of equipment from three Southeast Asian countries to the United States. "The potential tariff risk is more than $80 million," Bescher said. For cryptocurrency mining, the threat of tariffs is particularly devastating because few American-made machines can perform the high-performance computing required to make money in the highly competitive industry.

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Author: PA一线

This content is for informational purposes only and does not constitute investment advice.

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