CleanSpark Faces $185M Mining Gear Tariff Storm as US Cracks Down on Crypto Miners
CleanSpark just hit a regulatory iceberg—Washington’s laser focus on mining hardware could sink $185M into tariff waters. The Bitcoin miner’s ASICs are now in the crosshairs as policymakers flip from 'innovation friendly' to 'show me the money.'
The Price of Progress
Customs forms never looked so expensive. With Uncle Sam scrutinizing every watt-hungry rig, CleanSpark’s bottom line faces a brutal squeeze—because nothing says 'strategic industry' like slapping fees on the machines printing digital gold.
Wall Street’s Ironic Twist
Meanwhile, hedge funds still trade paper Bitcoin ETFs with zero operational headaches. The real miners? They’re stuck jumping through regulatory hoops while suits profit from their volatility. Classic finance.
A $185m question of origin and CleanSpark’s high-stakes defense
According to the report, If U.S. Customs and Border Protection prevails in its claim, CleanSpark could face a staggering $185 million in retroactive tariffs. The fine could represent nearly 70% of the company’s record Q3 2025 net income, not including additional statutory interest.
The agency’s invoices target all Bitmain Antminers imported between April and June 2024, a period when CleanSpark’s fleet consisted exclusively of these machines. While the company hasn’t set aside reserves for the potential liability, citing low probability of payment per its June 30 filings, the sum would represent one of the largest known tariff enforcements in crypto mining history.
CleanSpark’s defense hinges on two pillars: purchase agreements specifying non-Chinese origins, and supplier-provided documentation it claims validates compliance. “The allegation is without merit,” the company stated in its SEC filing, suggesting CBP’s assessment contradicts both paper trails and contractual warranties.
A Pattern emerges
CleanSpark isn’t navigating this challenge alone. IREN, another publicly traded miner, disclosed a $100 million CBP dispute in early 2025 over similar allegations regarding imports from April 2024 through February 2025. Both cases center on Bitmain hardware, though neither company has accused the manufacturer of misrepresentation.
The overlapping timelines and growing liabilities suggest a broader, more aggressive U.S. customs crackdown targeting the origin declarations of cryptocurrency mining equipment. This enforcement push adds a layer of complexity to the operational risks miners must manage beyond market forces, implicating supply chain transparency as a critical factor in the industry’s future.
Record profits meet regulatory headwinds
The tariff dispute lands as CleanSpark celebrates its most profitable quarter. On August 7, the company reported a $257.4 million net income, 91% revenue growth year-over-year, and a bitcoin treasury now worth over $1 billion.
CEO Zach Bradford emphasized the results were achieved “without raising capital through equity offerings since November 2024,” a subtle nod to the company’s ability to weather financial shocks.
With $933.3 million in working capital, CleanSpark could absorb the potential $185 million hit, but not without sacrificing strategic initiatives like its newly launched derivatives strategy or planned hashrate expansion.
