US tariffs on mining equipment could be beneficial for Russia

If the Donald Trump administration imposes new tariffs on ASIC miner imports, Russia could be the main beneficiary, Luxor Technology COO Ethan Vera told The Block.

According to him, Russian miners will gain an advantage due to lower prices for equipment, while the growth of asset production in the US will face a slowdown due to the rising cost of infrastructure. The expert predicts a redistribution of capital: Chinese companies will rush to Russia, and Western investors - to Canada, Northern European countries, South America (Brazil, Argentina, Chile) and other regions.

"This will cause a geographic shift in the industry," he said.

Currently, Bitmain supplies about 80% of its mining chips, but tariff increases from July 2025 could push the cost of purchasing from the US from 12.6% to 26-38%, depending on the country of origin. Luxor hopes that cryptocurrency mining equipment will receive exemptions similar to those applied to servers and computer equipment.

Earlier it was reported that the Ministry of Finance of the Russian Federation has developed a bill aimed at detailing the procedure for collecting taxes on the rental of mining equipment and the provision of computing power for cryptocurrency mining.