Erick Fenelus

Heat flight to Boston scheduled to depart at 3:30. Everyone in practice today, except for sidelined Tyler Herro. About 90 minutes to go to trade deadline. Almost everyone around Heat has done something.

🚨 Tariffs & Bitcoin Mining Hardware 🚨 Following up on the White House’s April 11th, 2025, update regarding tariff exceptions under EO 14257, let's dive into the implications for ASIC miners imported into the U.S. In 2018, U.S. Customs and Border Protection (CBP) classified ASIC miners under HTSUS code 8543.70.9860 per ruling N297495. Despite attempts in 2019 and 2020 to appeal that classification, it remains unchanged. After the recent White House update, Compass Mining and our Strategic partner CM Global services have received numerous inquiries about HTSUS code 8471, which was included in the tariff exemption update, leading some to believe ASIC miners might be covered. To be clear, they are not covered. ASIC miners still fall under 8543.70.9860, and that classification was not included in the April 11th exceptions. As of today (April 15, 2025), ASIC miners face a 2.6% import duty under N297495, with additional tariffs of 25% and 125% for Chinese-origin goods, and 10% for other countries, effective retroactively to April 10, 2025. At Compass Mining, we’re dedicated to providing clear, proactive guidance to our partners, so please feel free to DM if you have any questions about tariff classifications or import procedures.

JUST IN: 🇺🇸 Texas Strategic Bitcoin Reserve legislation SB 21 PASSES the Senate.