Bitcoin miners fit their business techniques because the ongoing trade war between the US and Canada makes energy prices and policies more unsure.
US president Donald Trump threatened to double his steel and aluminum tariffs from 25% to 50%, Leading The Government of the province of Ontario to walk back to its own plan to increase the cost of exporting power to the US.
Ontario Premier Doug Ford has promised to further increase the surcharge or Although “I -shut off the electricity thoroughly,” was given further urge. However, it appears that he softens his stance, at least for now.
The trade war may reach a blur, but some crypto companies expect possible policy changes to protect their growth.
https://www.youtube.com/watch?v=isnMkbijktc
Bitcoin miners expect changes in energy markets
Ben Ganon, the CEO of Canadian Bitcoin Mining Firm Bitfarms, said Bloomberg on March 11 said recent energy prices, if they passed, were not likely to affect its company’s business.
Bitfarms operations are mostly Quebec and British Columbia, both of which boast the significant hydroelectric capacity related to the total provincial energy mix. Ontario, by comparison, has been “unstable in an energy market. And in the last few years, they have really gained a huge push for cutting the baseload capacity.”
But even though the bitfarms’ energy situation may look stable in time, Ganon said tariffs “have implications for what policy and regulation that frameworks will look in the future.”
He said his firm would like to see “more accessible to power markets” as well as fewer regulations in setting up a new business or new power application.
The energy policy has become a controversial area of political debate in Canada, along with critics accused The Liberal Government – Today by Prime Minister Mark Carney – of harmful The Canadian economy with their techniques to lower leaks.
Related: What does the new liberal PM Mark Carney mean for crypto
Ganon said: “The opportunities present in the United States are also present in Canada. And I think it will solve everything and end with a more deregulated and smooth and efficient market since these years it has been tied to regulation of red tape.”
How can a Bitcoin miner benefit from tariffs?
Tariffs on goods such as steel, aluminum, and other industrial products – intended to encourage domestic production in the US – also affect Bitcoin miners, with some impact that is not expected to benefit.
While Ganon noted that miners could not control the price of Bitcoin, they could control their electricity costs. “One of the ways we can do is that we can find energy pockets that are not measured, used to empower the heavy industry, which has been outsource in other countries in the last 20 or 30 years.”
According to Ganon, Bitfarms has an operation in Pennsylvania – a “rust belt” state that has been greatly affected by the outsource of American steel and metals industries. The properties of his firm may soon be highly demanding if the US manufacturing industry returns from the dead.
Ganon said Bitcoin miners invested in the energy infrastructure that “used in the power of aluminum smelters and steel refineries and all things that are outsource.”
“Now Bitcoin miners have these possessions. And while pendulum swings back to America, these possessions are in high demand.”
China’s tariffs squeeze bitcoin’s mining hardware
Canadian miners like BitFarms may not be associated with today, but Trump’s tariffs in China have begun to squeeze American crypto miners, which imported hardware from China-based companies such as Bitmain.
According to Bloomberg, Bitcoin’s mining hardware transmissions from China to the US are experiencing significant delays in February 2025. The delays have been reported as a result of AI affiliated AI associated with Xiamen Sophgo technologies.
Heavy customs fees for BitMain -related hardware inspections cost US miners up to $ 500,000, according to Vishnu MacKenchery, Director of Global Logistics and Services at Compass Mining Inc. New tariffs can make new imports of the next Gen miners in the US “fully cost-prohibitive,” according to Synteq digital CEO Taras Kulyk.
China-based hardware producers such as Bitmain can set up operations in other countries to avoid US penalties. In Trump’s first term, when he imposed a 25% tax task on a number of consumer electronic goods from China, many mining producers moved to Malaysia, Indonesia and Thailand to avoid tariffs.
Bitmain also announced that it would launch a US production line in December 2024 to “provide faster response hours and better services to North American customers.” Bloomberg noted that the firm did not provide the exact location of its US line.
Related: Treasury Secretary Scott Bescent said that BTC onshore should bring us
Trump’s economic policies continue to be a mix of bags for the crypto industry. The wild fluctuations in trade policy and the last minute returns have become difficult to predict the market. Everywhere, the European Union has promised to impose counter-targets in the US, which further threatens property values.
Bitcoin Price Price Sept. 1, 2024 to March 13, 2025. Source: TradingView
Marcin Kazmierczak, co-founder and chief operating officer of Blockchain Oracle Solution Firm Redstone, told Cointelegraph that it will see Bitcoin sink for $ 75,000, a level not seen since November 2024.
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