PANews reported on April 3 that according to OKG Research, the tariff policy implemented today far exceeded market expectations. The United States imposed a 34% tariff on China and imposed higher tariffs on Southeast Asia - 36% in Thailand, 46% in Vietnam, and 49% in Cambodia. Based on the calculation of component splitting, the cost of Bitcoin mining is expected to increase by at least 24.65%.
Tariffs have impacted the mining industry, significantly extending the ROI cycle. Under the current computing difficulty and electricity price levels, it is almost impossible to make a profit on newly purchased mining machines unless the price of Bitcoin rises sharply or the electricity cost is extremely low. The increase in tariffs will not only directly increase the purchase cost of mining machines, but will also significantly extend the payback period. Especially for small and medium-sized miners, high tariffs will make it more difficult for them to bear the cost pressure and accelerate the concentration of mining in large-scale enterprises.
"Off-chain blockade, on-chain openness" - stablecoins become a channel for shadow dollar reservoirs. Although the "tariff" shock wave hit the entire financial market, various data show that the liquidity flowing into the crypto market is not so pessimistic. The US "reciprocal tariff" policy on China, coupled with Executive Order No. 14117, which will take effect on April 8, has accelerated the use of US dollar stablecoins and further strengthened the financial strategy of "off-chain blockade, on-chain openness". It is worth noting that the main collateral asset of the US dollar stablecoin is US Treasury bonds, which means that the crypto market is becoming a natural shadow dollar reservoir, which may have a profound impact on the global dollar liquidity pattern.
