Today, China announced that it will increase tariffs on the goods it ships to the United States from 34% to 84% in response to President Trump stating that he will raise tariffs on the goods the U.S. ships to China to 104%.

The increased Chinese tariffs on the U.S. will make it more costly for U.S.-based public Bitcoin mining companies to purchase ASICs (the premier machines used to mine bitcoin), the majority of which are produced in China.

And this will be largely beneficial for the health of the Bitcoin mining ecosystem.

As Troy Cross eloquently explained in “The Future OF Bitcoin Mining Is Distributed”, if one country controls too much of the Bitcoin hashrate, Bitcoin’s…

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