Bitcoin mining in the U.S. faces risks as Ontario Premier Doug Ford threatens to cut power exports in response to U.S. tariffs. This could impact 1.5 million electricity customers in New York, Michigan, and Minnesota, driving up energy costs.
Analyst Michael Maloney warns that 300-500 MW of Bitcoin mining capacity near the New York–Canada border, making up 2.5-5% of global hashrate, could be affected. Rising electricity prices may make mining unprofitable, with only the most efficient rigs remaining viable. Tariffs could further worsen the situation by increasing equipment costs.
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