CleanSpark Pushes Back Against $185 Million Tariff Claim Amid Record Earnings

CleanSpark, a leading cryptocurrency mining company, is locked in a fierce dispute with U.S. Customs and Border Protection (CBP) over a staggering $185 million in retroactive tariffs for allegedly importing Chinese-made Bitcoin miners in 2024. This controversy comes at a critical moment, as the company celebrates its most profitable quarter on record.

Origin of Dispute

According to a report from TheMinerMag, the CBP began invoicing CleanSpark in late May 2025, demanding payment for what it claims were improperly declared imports of Bitmain Antminers between April and June 2024. The agency asserts that the machines originated in China, making them subject to steep punitive tariffs under ongoing U.S. trade restrictions.

CleanSpark’s Defense

However, CleanSpark insists that its suppliers provided documentation certifying the miners were manufactured outside China, a claim the company says it will “vigorously” defend. The company’s defense hinges on two pillars: purchase agreements specifying non-Chinese origins, and supplier-provided documentation that validates compliance.

Stakes are High

If the CBP prevails in its claim, CleanSpark could face a staggering $185 million in retroactive tariffs, representing nearly 70% of the company’s record Q3 2025 net income, not including additional statutory interest. The fine would be one of the largest known tariff enforcements in crypto mining history.

Pattern Emerges

CleanSpark isn’t alone in this struggle. IREN, another publicly traded miner, disclosed a $100 million CBP dispute in early 2025 over similar allegations regarding imports from April 2024 through February 2025. Both cases center on Bitmain hardware, though neither company has accused the manufacturer of misrepresentation.

Broader Implications

The overlapping timelines and growing liabilities suggest a broader, more aggressive U.S. customs crackdown targeting the origin declarations of cryptocurrency mining equipment. This enforcement push adds a layer of complexity to the operational risks miners must manage beyond market forces, implicating supply chain transparency as a critical factor in the industry’s future.

Record Profits Amid Regulatory Headwinds

The tariff dispute lands as CleanSpark celebrates its most profitable quarter. On August 7, the company reported a $257.4 million net income, 91% revenue growth year-over-year, and a Bitcoin treasury now worth over $1 billion. CEO Zach Bradford emphasized the results were achieved “without raising capital through equity offerings since November 2024,” a subtle nod to the company’s ability to weather financial shocks.

Impact on Operations

With $933.3 million in working capital, CleanSpark could absorb the potential $185 million hit, but not without sacrificing strategic initiatives like its newly launched derivatives strategy or planned hashrate expansion. The outcome of this dispute will have significant implications for CleanSpark’s operations and the broader cryptocurrency mining industry.