CoinDesk Podcast Network

THE MINING POD: Trump Tariff Troubles, Hashprice Dog Days, Pakistan is Mining Bitcoin

6 snips
Apr 11, 2025
Bitcoin miners face daunting challenges as hash prices plummet to around $40, pushing many into tough financial waters. The scramble to import ASICs before Trump’s tariff policies added urgency, complicating already strained budgets. Meanwhile, Pakistan eyes Bitcoin mining as a solution for surplus energy. In a surprising twist, investing in inverse ETH ETFs proved to be a goldmine, climbing 247% this year. The podcast dives deep into these pressing issues reshaping the landscape of cryptocurrency mining.
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INSIGHT

Hash Price Pressure

  • Bitcoin miners are facing pressure from low hash prices, worsened by a large difficulty adjustment.
  • This puts many public miners at break-even or operating at a loss, excluding overhead and financing.
ANECDOTE

Tariff Deadline Scramble

  • Before the Trump tariff deadline, Bitcoin miners scrambled to import ASICs, chartering flights at exorbitant costs.
  • Some miners chartered flights for $2 million to $4 million to avoid tariffs.
INSIGHT

Tariffs Favor Onshoring

  • US Bitcoin miners face higher hardware costs due to tariffs, making expansion more difficult. This makes onshoring efforts by Bitmain, MicroBT, and Canaan more attractive.
  • The situation also favors companies like Ordine and Protominer.
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