Bitcoin miner alleges Stripe cut them off as Trump bans crypto debanking

Bitcoin miner alleges Stripe cut them off as Trump bans crypto debanking originally appeared on TheStreet.

A Germany-based Bitcoin mining hardware seller says they have been cut off from processing credit card payments after Stripe allegedly closed their account.

The business, posting under the handle Solomining on X, says the move came shortly after Shopify’s built-in payments service banned them from selling mining equipment.

“GM. We just got debanked by Stripe for selling mining hardware,” Solomining wrote. “Yes, we do accept BTC as payment, but many customers prefer to pay with dirty fiat using their credit card.”

Solomining is a Germany-based vendor that sells compact, energy-efficient Bitcoin mining hardware for solo and home mining setups.

The miner said Stripe was their second choice after losing Shopify Payments. “It is about the credit card payments processing on the Shopify checkout, not about the banking itself. My conventional business bank is totally fine with my business and will not debank me,” they clarified.

Executive order in the United States targets Operation Chokepoint 2.0

The timing of the claim is notable because just days earlier United States President Donald Trump signed an executive order called Fair Banking for All Americans. The directive bans US banks and payment processors from refusing services to crypto companies on political or arbitrary grounds.

The order is designed to dismantle what the industry has dubbed “Operation Chokepoint 2.0” — an alleged Biden-era push to pressure financial institutions into cutting off services to digital asset firms. The White House said the move ensures regulators cannot engage in “politicized or unlawful debanking.”

However, because Solomining is based in Germany, the new rules offer no direct protection. “We’re located in Germany, not the US. So this won’t help us,” the account owner responded when advised about the executive order.

Personal and political backdrop

Trump’s order comes after years of political debate on the issue. His son Eric Trump has previously claimed in an interview that his own accounts were shut down without explanation and called the incident politically motivated.

Since taking office in 2025 Donald Trump has appointed multiple pro-crypto officials to regulatory positions.

His administration has rolled back several Biden-era enforcement actions against the industry and permitted crypto investments in 401(k) retirement plans.

Limited options outside the United States

In the Solomining thread, fellow entrepreneurs suggested alternative processors, including Authorize.net, Paystand, and Revolut, though integrating these with Shopify may be complex. Others warned that mining hardware sellers are often flagged as “high-risk merchants” by card processors, making debanking a persistent risk regardless of jurisdiction.

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Bitcoin consulting firm BTC DACH 21, based in Germany, said it had faced three bank rejections before finding a partner willing to support its business model. “You’re walking the path we walked a couple years ago,” commented Dutch miner Bitcoin Brabant, who experienced similar account closures in 2022.

TheStreet Roundtable reached out to Stripe for comment and will update the story if and when the company responds.

Bitcoin miner alleges Stripe cut them off as Trump bans crypto debanking first appeared on TheStreet on Aug 14, 2025

This story was originally reported by TheStreet on Aug 14, 2025, where it first appeared.

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