Trump’s Global Tariffs Impact Even Large Bitcoin Miners

Recent decisions by US President Donald Trump have had a severe impact on the crypto mining industry, even on the largest Bitcoin miners, pushing them into the net-negative realm.

Trump has caused a cascade of events with his global tariffs across industries. Crypto mining was not spared. The tariff news triggered a broad market sell-off, which in turn triggered a Bitcoin hashprice drop.

Bitcoin’s hashprice is a measure of mining profitability. This week, it has fallen back below $40/PH/s, a level last seen in September 2024, according to the latest Miner Weekly report by BlocksBridge Consulting.

Then, Trump changed his mind yet again and announced a temporary 90-day pause on the global tariffs. The market somewhat recovered, but Bitcoin’s hashprice remained just above $42/PH/s. #BTC