Apparently, it is not for nothing that the sons of the US President Eric and Donald Trump suddenly joined the mining business, in partnership with Hut 8 founded a company called American Bitcoin.
The recent trade restrictions between the US and China (which, by the way, announced the introduction of 34% trade duties on US goods starting April 10) have caused significant upheaval in the cryptocurrency and mining market.
After announcement of new tariffs by US President Donald Trump, Bitcoin price dropped to $81 thousand, and other altcoins are also depreciating. At the same time, shares of cryptocurrency companies are falling.
Strategy (formerly MicroStrategy) lost more than 9%, Coinbase Global — 6%, Robinhood Markets — 10%, and crypto mining company MARA Holdings — 9%. Hut 8 shares also fell by 11%.
The Chinese company Bitmain, which controls about 90% of the bitcoin mining hardware market, has faced increased scrutiny from US customs authorities. This has led to delays in the supply of equipment to American customers. This also causes problems for American mining companies.
The introduction of new customs tariffs has also affected the cost of bitcoin mining in the United States. It is estimated that in 2025, the cost of mining one coin is about $81,650, which significantly reduces the profit margin for miners. By in words a representative of Luxor Technology, the cost of mining equipment is a significant part of crypto miners’ capital expenditures, and operators are now facing more than a 20% increase in procurement costs. Luxor Technology had only 28 hours to ship 5,600 pieces of equipment to the United States to avoid the new tariffs (+10%) from April 4. And Thailand expects to increase duties to 36% starting April 9.
Many mining equipment manufacturers were based in China, but the introduction of US tariffs, bans, and sanctions against this country since 2018 may force businesses to move production to the United States. The largest bitcoin mining hardware manufacturer Bitmain Technologies Ltd. has already announced the launch of a local production line to serve North American customers faster. And MicroBT has signed an agreement with the American company Riot Blockchain to use its production facilities. Luxor also announced a $131 million deal with the same company to assemble WhatsMiner machines in the United States.
Earlier, the Trump administration announced the creation of a strategic reserve of bitcoin and the stock of US digital assets aimed at supporting the national economy and stabilizing the cryptocurrency market, as well as strengthening the dollar. This step has forced China to start considering its own aggressive crypto strategies.
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