Trump promised bitcoin ‘made in America’ then ruined it with tariffs
During Donald Trump’s campaign for the presidency, he promised that “all” bitcoin (BTC) should be “made in the US.” However, his new tariffs are likely to hurt the US BTC mining industry. BTC mining depends on specialized computers based around application-specific integrated circuits (ASICs) that are specifically optimized for Bitcoin’s hashing algorithm. These machines are imported, as their production is largely outside the United States, though Bitmain and MicroBT had started setting up production lines in the United States for final assembly. However, it seems these production lines are still dependent on importing various components for the devices. Crypto promises that Donald Trump must now live up to Read more: DoJ scraps crypto unit, tells staff to ignore crypto exchanges and mixers Historically, these machines were built in China, but after earlier tariffs during Trump’s first term, the production had moved to other co...