A trade war between the U.S. and China is heating up. Waiting for a rise in price of ASIC miners?
Source:
In June, the US trade office has changed the wording of the definition of Asimov «machines for processing» «equipment». The decision of the authority passed almost unnoticed, because it increased the tax on mining hardware from scratch to just 2.6 percent. Recently, however Bitmain customers from the United States began to pay much more for the desire to produce .
How much is asik in the USA
Between China and the United States is a trade war. A couple of months ago in the administration of Donald trump announced the increase of taxes by 250 billion dollars in trade between the two countries. After another failed negotiations with China, the Americans threatened to raise the tax on almost the entire turnover.
Because Of this, Bitmain asik became the object to recover 25% tax. Now with each piece of equipment the state receives in total a whopping 27.6 percent of taxes. A total of almost a month, the purchase price of the equipment for ASIC mining in the United States jumped more than a quarter.
All this applies to Bitmain, because the main manufacturer of Asimov was in China. Its customers have alternatives, but they are relatively few, for now, Bitmain is more than 51 percent of the market. The rest of the Chinese companies (Canaan and Ebang International) belongs only 8.5 and 3.8 percent, respectively.
For the Bitmain trade war is also a big problem. In 2018, the total income of the company amounted to $ 2.7 billion, while 94.3 per cent of this amount goes to Bitmain due to the sale of equipment for mining. In addition, almost half of Asimov sent abroad. The relevant data can be found in the application for Bitmain.
In 2015, 2016 and 2017 Bitmain received, respectively, 65,3, 51,0 and 51.8% of revenue from international sales.
About 27 percent of purchases are paid with a cryptocurrency that Bitmain mines too. According to Inner Mongolia, the company has more than 60,000 pieces of equipment for mining with a total capacity of 90 megawatts.
However, analysts believe that the leadership of the main manufacturer of Asimov more concerned about the growing competition in the market than a trade war with the United States. Earlier, Canaan, and some other Chinese company to release a new generation of Asimov more energy efficient.
image Source — eCrypto
However, given the large share of international sales, the increase in taxes in the U.S. will affect Bitmain. The company is planning to build a major mining centers in Washington and Texas, so transportation of equipment between the two countries will become quite challenging.
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