July 09, 2025
11 11 11 AM
Latest Post
Bitcoin gets 'highly favorable' cues as DXY sets 21-year weakness record New Zealand Wants to Ban Crypto ATMs in Anti-Money Laundering Overhaul Bitcoin Treasury Firms Expand War Chests as Global Adoption Rises Focus on Market Cap, Trading Volume Rather Than Engagement for a Successful Token Launch, Research Shows Crypto Traders Mint Millions From Grok Glitching on ‘MechaHitler’ Memecoin PNUT Rips on Elon Musk’s Epstein Cue Key Market Dynamic Keeps Bitcoin, XRP Anchored to $110K and $2.3 as Ether Looks Prone to Volatility Robinhood Says OpenAI Stock Tokens Backed by Special Purpose Vehicle OmegaPro Founder and Co-Conspirator Charged by U.S. DOJ in $650M Ponzi Scheme XRP Clears $2.28 on Breakout Volume, Eyes $2.30 on Ripple’s Banking Charter Push

Bitcoin Miner 1Q Results May Disappoint as Hashprice Fell, Tariffs Hit: CoinShares

Bitcoin (BTC) miners’ first-quarter results may disappoint because the hashprice, a measure of daily mining profitability, fell further and trade tariffs weighed on the market, asset manager CoinShares (CS) said in a blog post on Friday.

“Q2 results may show deterioration, as tariffs on imported mining rigs range from 24% (Malaysia) to 54% (China),” analysts led by James Butterfill wrote.

Bitcoin miners that are dependent on older or less-efficient rigs are faced with higher exposure to these tariffs, the report said.

Core Scientific (CORZ) is “better insulated, as it transitions to HPC,” the authors wrote, adding that Bitdeer (BTDR), which makes its own rigs, could see margin pressure on sales outside the U.S.

The asset manager predicts that the Bitcoin network hashrate could reach 1 zettahash per second (ZH/s) by July and 2 ZH/s by early 2027.

The hashprice outlook is not as positive.

The asset manager’s model indicates “a gradual structural decline, with prices likely to remain range-bound between $35 and $50 per PH/day through to the 2028 halving cycle.”

Tariffs and trade tensions could be positive for bitcoin adoption in the medium term, asset manager Grayscale said in a research report earlier this month.

Read more: Bitcoin Miners With HPC Exposure Underperformed in First Two Weeks of April: JPMorgan

This post was originally published on this site

Please enter Coingecko Free Api Key to get this plugin works