The American bitcoin mining industry is going through a critical period. Between archaic tax rules and growing economic pressure, minors are demanding fair treatment today in the face of their traditional raw foods.
In short
- Bitcoin minors undergo immediate taxation during the extraction and then again during the sale, unlike gold producers who pay only once.
- This tax pressure pushes companies to liquidate massively: 40% of their production sold in March 2025, a record since October 2024.
- US customs tariffs (up to 54% on Chinese equipment) and obsolete tax rules financially strangle the national mining sector.
A two -speed taxation which penalizes Bitcoin
Beautiful Turner, CEO of Abuant Mines, points the finger at a striking tax anomaly. Where a gold producer pays only at the time of the sale, the Bitcoin minors undergo immediate taxation from the extraction.
“” The IRS treats mined cryptos as regular income “He explains during an interview with Thestreet Roundtable. This approach creates artificial pressure on an already volatile market.
This double taxationreturned to mining and capital gains on sale, mechanically pushes operators to premature liquidations.
The figures of March 2025 perfectly illustrate this phenomenon: the 15 main listed companies have sold more than 40% of their fresh production, marking the largest wave of liquidation since October 2024.
Cleanspark embodies this new reality by officially adopting a “self -funded” model based on regular sales. This strategy, dictated by current tax constraints, breaks with the strategic accumulation observed after the last Halving.
Turner sums up the situation:
If you have a tax bill without having sold your bitcoin, you will have to liquidate it to pay the state.
The recent evolution of the Financial Accounting Standards Board (FASB), authorizing the use of accounting at just value for Bitcoin, however suggests a change in regulatory approach. This decision, which notably benefits Michael Saylor Strategy, could foreshadow a tax harmonization long awaited by the mining industry.
External challenges that amplify the crisis
Beyond tax issues, American industry faces an economic storm. The Trump administration's pricing policies hit the importance of Asian equipment.
Trump imposed customs tariffs of more than 34 % on China, the main supplier of mining equipment. Other Asian countries are no exception to increases: 24 % to 37 % depending on sources.
With customs duties going from 25 % to 54 % for Chinese machines, and similar increases for countries like Thailand or Malaysia, equipment costs explode from 22 to 36 %.
The problem ? Chinese companies control 70 % to 80 % of the global mining equipment market. Impossible to do without it overnight. This dependence transforms each price increase into financial disaster.
The actions of mining companies immediately dropped after Trump's announcement, and some experts predict that American mining could become “economically impracticable”.
Faced with this double pressure, some actors try to adapt. Bitmain and Whatsminer accelerate their American establishment to bypass the prices. Other American minors squarely envisage relocation to countries without customs prices.
This brain and capital leak could redistribute global calculation power, weakening American domination in this strategic sector.
In short, the American bitcoin mining industry is at a decisive crossroads. The obsolete tax rules, combined with trade tensions, create a hostile environment that pushes actors to exile or forced liquidation.
Beautiful Turner sums up the situation without detours. His request is however simple:
We are not asking for preferential treatment, just to be treated like any raw materials company.
A reform in this sense could transform market dynamics, reduce forced sales … and stabilize, perhaps, the price of Bitcoin.
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