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Stock impact report

Bitcoin miners in U.S. fear wipeout as 36% tariffs threaten to ‘destroy' thriving industry [Fortune]

Marathon Digital Holdings, Inc. (MARA) 
Last marathon digital holdings, inc. earnings: 8/14 04:00 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.marathonpg.com
Company Research Source: Fortune
The move paid off as a mix of cheap energy and deep capital markets saw the U.S. become the world's leader in Bitcoin production and, following the election of pro-crypto President Donald Trump, American miners' future seemed brighter than ever. In April, all of that changed. That's because, even as the U.S. took the lead in production, American miners continued to rely heavily on machines from Asia—machines that are now subject to hefty tariffs as high as 36% as Trump aims to choke off overseas imports. Most Bitcoin mining machines in the U.S. are produced in Southeast Asia in countries like Thailand , Malaysia and Indonesia. Under Trump's tariff policy—which was set to go into effect on April 9 but has since been put on a 90-day pause —these countries face tariffs ranging from 24% to 36%. In the meantime, a general 10% rate remains in place. Mining machine marketplace Luxor Technology imports many of its machines from Thailand, the company's chief operating officer Ethan Vera Show less Read more
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