"Some Mining Companies Falsely Report Mining Equipment Prices to Evade Tariffs"

JH Kim

Summary

It was reported that some Bitcoin mining companies have a practice of deliberately underreporting mining equipment prices to evade tariffs.
According to experts, while it was possible to report up to 90% lower than the actual price in the past, it is now much more restricted.
This trend is said to be due to strengthened regulations after President Donald Trump took office, limiting price manipulation.

Some Bitcoin (BTC) mining companies have been found to deliberately underreport the shipping prices of mining equipment to the U.S. Customs and Border Protection (CBP) to reduce tariffs.

According to CoinDesk, a virtual asset specialized media outlet, on the 22nd (local time), Jill Ford, the founder of the mining equipment procurement specialist company BitFord Digital, confessed, "Previously, if the actual equipment price was $3,000, it was reported as $300."

However, she stated, "Such acts are clear fraud and illegal, and while it may have been easier in the past, the situation has changed since President Donald Trump took office," adding, "Currently, the maximum underreporting may be around 20-30%, and it has become virtually impossible to drastically manipulate prices as before."

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