CoinShares reported that Bitcoin miners' first-quarter results could be disappointing due to a decline in hashprice and the impact of trade tariffs. The report highlights that miners relying on older or less efficient equipment are facing greater exposure to these tariffs, which range from 24% to 54% for imported mining rigs from countries like Malaysia and China. Analysts expect a deterioration in results for Q2 as a result. In contrast, certain firms like Core Scientific are said to be better insulated as they transition to high-performance computing (HPC). Additionally, the Bitcoin network's hashrate is expected to reach 1 zettahash per second (ZH/s) by July and 2 ZH/s by early 2027. Despite the current challenges, there is a prediction of continued moderately stable hashprice between $35 and $50 per petahash per day through to the 2028 halving cycle. These tariffs and trade tensions may ultimately benefit Bitcoin adoption in the medium term.

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