{"id":24199,"date":"2025-04-28T16:47:12","date_gmt":"2025-04-28T16:47:12","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=24199"},"modified":"2025-04-28T16:47:12","modified_gmt":"2025-04-28T16:47:12","slug":"bitcoin-miner-1q-results-may-disappoint-as-hashprice-fell-tariffs-hit-coinshares","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=24199","title":{"rendered":"Bitcoin Miner 1Q Results May Disappoint as Hashprice Fell, Tariffs Hit: CoinShares"},"content":{"rendered":"<div>\n<p>Bitcoin (<a href=\"https:\/\/www.coindesk.com\/price\/bitcoin\/\">BTC<\/a>) miners&#8217; first-quarter results may disappoint because the hashprice, a measure of daily mining profitability, fell further and trade tariffs weighed on the market, asset manager CoinShares (CS) said in a blog post on Friday.<\/p>\n<p>&#8220;Q2 results may show deterioration, as tariffs on imported mining rigs range from 24% (Malaysia) to 54% (China),&#8221; analysts led by James Butterfill wrote.<\/p>\n<p>Bitcoin miners that are dependent on older or less-efficient rigs are faced with higher exposure to these tariffs, the report said.<\/p>\n<p>Core Scientific (CORZ) is &#8220;better insulated, as it transitions to HPC,&#8221; the authors wrote, adding that Bitdeer (BTDR), which makes its own rigs, could see margin pressure on sales outside the U.S.<\/p>\n<p>The asset manager predicts that the Bitcoin network hashrate could reach 1 zettahash per second (ZH\/s) by July and 2 ZH\/s by early 2027.<\/p>\n<p>The hashprice outlook is not as positive.<\/p>\n<p>The asset manager&#8217;s model indicates &#8220;a gradual structural decline, with prices likely to remain range-bound between $35 and $50 per PH\/day through to the 2028 halving cycle.&#8221;<\/p>\n<p>Tariffs and trade tensions could be positive for bitcoin adoption in the medium term, asset manager <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/04\/10\/tariffs-trade-tensions-may-be-positive-for-bitcoin-adoption-in-medium-term-grayscale\">Grayscale said<\/a> in a research report earlier this month.<\/p>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/04\/16\/bitcoin-miners-with-hpc-exposure-underperformed-in-first-two-weeks-of-april-jpmorgan\"><span style=\"text-decoration:underline\">Bitcoin Miners With HPC Exposure Underperformed in First Two Weeks of April: JPMorgan<\/span><\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) miners&#8217; first-quarter results may disappoint because the hashprice, a measure of daily mining profitability, fell further and trade tariffs weighed on the market, asset manager CoinShares (CS) said in a blog post on Friday. &#8220;Q2 results may show deterioration, as tariffs on imported mining rigs range from 24% (Malaysia) to 54% (China),&#8221; analysts [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-24199","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/24199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24199"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/24199\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}