Opinion: If Trump imposes tariffs on Bitcoin mining rigs, Russia may become the main beneficiary of Bitcoin mining.

GateUser-6433627c · 2025-05-07T14:42:37+00:00

The Russian Bitcoin Mining Company Luxor pointed out that if Trump imposes tariffs on the Bitcoin industry, Russia will benefit. Russia's advantages lie in hardware design not being American, cheap energy, and gradually loosening regulations, leading to a continuous rise in Mining. Despite sanctions, the government is promoting the legalization of Crypto Assets, and experts say that large-scale evasion of sanctions still poses challenges.

GateUser-6433627c

2025-05-07 14:42:37

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On May 7, Russian Bitcoin mining technology company Luxor estimated that if Trump imposes tariffs on the Bitcoin industry’s supply chain, Russia will become a major beneficiary, as most Bitcoin mining hardware is still designed outside the United States. The industry has long been dominated by Bitmain’s Antminer, which holds more than 80% of the market share. Additionally, benefiting from energy cost advantages and gradual easing of cryptocurrency regulations, Bitcoin mining activities in Russia have significantly risen. Despite facing sanctions from Western countries, the Russian government continues to promote the legalization of cryptocurrencies, especially in international payments and mining. Experts point out that despite Russia’s progress in the cryptocurrency field, large-scale circumvention of sanctions using cryptocurrencies remains challenging due to market liquidity constraints.

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