Asia Open: Bitcoin Mining Firms Shrug Off Trump’s New Trade Measures

The latest U.S. semiconductor tariffs are unlikely to disrupt the bitcoin mining sector, as the industry’s key chip suppliers—Taiwan Semiconductor Manufacturing Company (TSMC) and Samsung—have been granted exemptions due to their U.S.-based operations.

Taiwanese officials confirmed TSMC’s facilities in Phoenix, operational since 2023, qualify the company for exemption from the 100% import tariffs. Similarly, South Korean authorities announced that Samsung’s chip manufacturing plants in Texas secure it protection from the new trade restrictions.

TSMC and Samsung manufacture ASIC chips for leading bitcoin mining hardware providers such as Bitmain, Canaan, and Bitdeer. While Bitmain and Canaan declined to comment, Bitdeer stated it relies on TSMC for ASIC production and plans to open a U.S. assembly facility within the next year.

Market reactions have been largely positive. Taiwan’s benchmark TAIEX index is set to open 2.3% higher, with TSMC shares up 3% and nearing record territory. Even SMIC, a Shanghai-based competitor lacking U.S. operations and directly impacted by the tariffs, has posted weekly gains, outperforming the Hang Seng Index.

Market Highlights

• Bitcoin (BTC): BTC is in a cooling phase after hitting an all-time high of $123,000. It currently trades at $117,386.04, with indicators suggesting a short-term consolidation or slight downside risk, according to CryptoQuant.
• Ethereum (ETH): ETH is showing renewed strength, trading at $3,905.42 (+6.43%) and closing in on the $4,000 level. Glassnode data reveals capital rotation from Solana into Ethereum, with ETH/BTC crossing its 200-day EMA for the first time in two years. Open interest has reached $58 billion, supported by surging on-chain activity.
• Gold: Gold is up 0.5% to $3,387 as investors weigh the effects of new U.S. tariffs on India’s Russian oil imports.
• Asia-Pacific Equities: Japan’s Nikkei 225 climbed 1.18% on Friday, with the Topix Index hitting a record 3,031.78. Notable gainers include Nippon Chemical Industrial, Miyakoshi Holdings, J-Lease, and Japan Electronic Materials.
• S&P 500: The U.S. stock market closed higher Wednesday. The S&P 500 rose 0.73% to 6,345.06, driven by a 5% surge in Apple shares following its announcement of an additional $100 billion investment in domestic manufacturing, bringing its total commitment to $600 billion.