US Bitcoin Miners Face Challenges Due to Delays and Rising Costs
According to IT BOLTWISE® x Artificial Intelligence, US-based Bitcoin mining companies are currently grappling with significant challenges stemming from delays in equipment delivery and increasing costs. Since November 2024, the US Customs and Border Protection (CBP) has intensified inspections, causing 2,000 Bitmain mining rigs to be held at customs. These delays are a direct result of escalating trade tensions between the US and China.
Industry experts have noted that nearly all mining machines transported via air freight are being inspected, leading to logistical complications for mining companies. For instance, Bit Digital, a New York-based mining firm, experienced weeks-long delays for 700 rigs, while another company in Oklahoma has 2,000 rigs stuck in customs. Additionally, a 10% tariff on Chinese imports, effective February 1, has further increased the costs of these machines, exacerbating the financial strain on the industry.
The situation is compounded by the rising difficulty of Bitcoin mining. As of February 2025, the mining difficulty has surged to over 114 trillion, while the hash price has dropped to just $53 per petahash per second (PH/s). This has made it particularly challenging for companies using older hardware, such as the Antminer S19 Pro, especially in regions with high electricity and hosting costs. Some firms have adapted by diversifying into sectors like AI data centers or holding Bitcoin as a corporate asset to offset reduced mining profits.
Geopolitical tensions have also played a role in these challenges. In January 2025, the US Department of Commerce blacklisted Sophgo, an AI company linked to Bitmain, further disrupting operations. Bitmain's co-founder, Zhan Ketuan, has shifted focus towards AI hardware, moving away from traditional mining equipment. Despite these obstacles, Bitmain is reportedly planning a new facility in the US, although the location remains undisclosed. These developments underline the mounting pressures on US Bitcoin miners, as highlighted in the report by IT BOLTWISE® x Artificial Intelligence, available at https://www.it-boltwise.de/us-bitcoin-miner-stehen-vor-herausforderungen-durch-verzoegerungen-und-steigende-kosten.html.
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