CleanSpark under threat: $185 million tariffs endanger mining leader
Introduction: A New Challenge for CleanSpark
The American company CleanSpark Inc. (NASDAQ: CLSK), a leader in bitcoin mining, is facing a significant financial risk. The U.S. Customs and Border Protection (CBP) has filed claims suggesting that the mining equipment imported by the company in 2024 originates from China and is subject to prohibitive tariffs. The potential obligations are estimated at $185 million, which could substantially impact the company's financial stability and market reputation.
CBP Claims: Details of the Dispute
According to CleanSpark's report for the second quarter of 2025, beginning May 27, 2025, the company started receiving bills from the CBP concerning equipment imports between April and June 2024. During this period, CleanSpark's mining infrastructure was entirely composed of Antminer devices manufactured by Bitmain. The CBP claims that these devices are made in China, subjecting them to high tariffs under the U.S. trade restrictions against Chinese goods. If the agency proves its case and applies tariffs to all shipments starting from April 2024, CleanSpark may be required to pay up to $185 million, excluding interest.
CleanSpark's Position: Documents Against Allegations
CleanSpark categorically denies the allegations, stating that they are baseless. The company relies on import documentation and supplier guarantees that confirm the equipment is not of Chinese origin. An official statement emphasizes that CleanSpark intends to "vigorously defend" against the CBP's claims. As of June 30, 2025, the company has not set aside financial reserves for potential payments, considering the likelihood of an adverse outcome low.
Market Reaction: Decline in Stock Despite Successes
Despite record financial results for the third quarter of 2025—$198.6 million in revenue and $257.4 million in net profit—the news about the dispute with CBP sparked a negative market reaction. On August 8, 2025, CleanSpark's shares dropped by over 5%, fluctuating between $9.82 and $11.35. Investors are concerned about potential financial risks and the overall weakness of the cryptocurrency asset market.
Not Only CleanSpark: Industry Trend
CleanSpark is not the only company facing similar claims. Another public miner, IREN, reported a dispute with the CBP amounting to $100 million over similar allegations regarding the import of Chinese equipment during the period from April 2024 to February 2025. Both companies challenge the claims, citing supplier documentation. These cases indicate increased scrutiny by U.S. authorities over the origin of mining equipment, potentially part of a broader policy of trade restrictions against China.
Consequences for the Industry: Rethinking Supply Chains
The situation with CleanSpark and IREN highlights the growing risks for American miners associated with stricter customs regulations. Amid the trade war between the U.S. and China, companies are forced to reconsider their supply chains. Some manufacturers, like Bitmain, are already considering opening production facilities in the U.S. to avoid tariffs and speed up deliveries. This could lead to increased operating costs and a change in market structure.
Conclusion: What's Next for CleanSpark?
The dispute with the CBP represents a serious challenge for CleanSpark, despite its financial successes and stable market position. The outcome could not only affect the company's financial strategy but also set a precedent for the entire crypto mining industry. If CleanSpark manages to prove its case, it will strengthen investor confidence. However, if it loses, the company will face multimillion-dollar payments that could limit its expansion plans. The industry is closely monitoring events as they may determine the future of mining equipment import regulations in the U.S.