US-Canada tariff flip-flops have Bitcoin miners on their toes
Bitcoin miners are adjusting their strategies amid the ongoing trade war between the US and Canada, which has led to energy price and policy uncertainties. President Trump's threats to substantially raise tariffs on steel and aluminum have prompted Ontario's government to reconsider its energy export plans. Canadian Bitcoin mining firm Bitfarms remains relatively insulated due to its operations in regions with abundant hydroelectric power, yet CEO Ben Ganon warns of potential future regulatory changes. He advocates for greater access to electricity markets, noting that some tariffs unexpectedly benefit miners by encouraging resource utilization from previously heavy industries. Meanwhile, US miners struggle with hardware import delays from China due to Trump's tariffs, which have already imposed significant costs and logistics challenges. Miners are exploring the revival of American manufacturing industries as opportunities arise. The mixed effects of Trump's policies have resulted in volatility within the crypto market, complicating predictions and asset valuations.
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