The American authorities have finally begun to release seized Chinese crypto-mining equipment, reports Reuters. Taras Kulyk, head of Synteq Digital, a broker in mining hardware, reports that “thousands of units” are now free. But there’s a catch: at one point, as many as 10,000 devices were stuck in various ports.
Kulyk has an idea why it took so long. “Some guys at customs (CBP) weren’t too keen on Bitcoin mining,” he says. To him, it felt like a deliberate nuisance to harass the sector. And it all started late last year when the CBP – in conjunction with the FCC – started hunting for Bitmain stuff (think Antminers), but also MicroBT and Canaan. Reason? Concerns about radio frequency emissions and some trade violations.
What turns out? Some of those seized machines had chips from Sophgo, a Chinese company that ended up on the blacklist in 2023. Why? Because they were said to have helped smuggle Taiwanese TSMC chips to Huawei, which has long been in Washington’s sights. Trade tensions between the US and China also play a big role here.
Ethan Vera, COO of Luxor Technology, confirms that there is some movement: “Some shipments are being released, but the bulk is still stuck.” Both he and Kulyk laugh off those emission concerns. “Nonsense,” they think. However, it remains a mess, as not everything has been released yet. The US is keeping a tight grip on Chinese tech, and the miners who depend on this hardware are feeling it.
The fact that some stuff is now being released is a small breakthrough for miners who have been twiddling their thumbs for months. But it’s not a party for everyone: a lot of shipments are still on hold. The Sophgo blacklist was part of a larger US operation to thwart Huawei, and that leaves its mark.
Does this mean a policy shift? Maybe, but the fate of that detained hardware remains a question mark. What do you think – is there light at the end of the tunnel for these Chinese machines?
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