Bitcoin Miner 1Q Results May Disappoint as Hashprice Fell, Tariffs Hit: CoinShares
Bitcoin (BTC) miners' 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.
"Q2 results may show deterioration, as tariffs on imported mining rigs range from 24% (Malaysia) to 54% (China)," analysts led by James Butterfill wrote.
Bitcoin miners that are dependent on older or less-efficient rigs are faced with higher exposure to these tariffs, the report said.
Core Scientific (CORZ) is "better insulated, as it transitions to HPC," the authors wrote, adding that Bitdeer (BTDR), which makes its own rigs, could see margin pressure on sales outside the U.S.
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.
The hashprice outlook is not as positive.
The asset manager's model indicates "a gradual structural decline, with prices likely to remain range-bound between $35 and $50 per PH/day through to the 2028 halving cycle."
Tariffs and trade tensions could be positive for bitcoin adoption in the medium term, asset manager Grayscale said in a research report earlier this month.Sign in to access your portfolio
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
30 minutes ago
- Yahoo
New lawsuit accuses MicroStrategy of 'misleading' shareholders
New lawsuit accuses MicroStrategy of 'misleading' shareholders originally appeared on TheStreet. On June 10, Levi & Korsinsky, LLP announced a class action lawsuit against MicroStrategy Incorporated. Investors who had purchased stock in the company from the end of April 2024 through the beginning of April 2025 were invited to register their intent to seek recompense for alleged financial damages. The lead plaintiff registration cutoff is set for July 15. The official complaint said that Strategy (previously MicroStrategy) management intentionally misled shareholders regarding the true profitability and risks associated with their Bitcoin-centric investment plan, while downplaying the immense volatility inherent in the cryptocurrency's market valuation. For the first quarter of 2025 financials, Strategy adopted Accounting Standards Update No. 2023-08 for evaluating future adjustments on crypto assets, as the market price reported an unrealized loss of $5.91 billion. Upon releasing interim corporate statements on April 7, Strategy stock plunged 8.7% as investors reacted to the substantial impairment, closing at $268.14 per share. Just weeks later, on May 1, the firm acknowledged a loss of nearly $6 billion stemming directly from Bitcoin's massive price drop and the growing uncertainty surrounding future earnings generated through such risky assets. On May 19, Strategy was hit with another class action lawsuit wherein a plaintiff named Anas Hamza sought damages for violating the Securities Exchange Act. Michael Saylor has always spoken with conviction, saying, "Our capital structure is constructed so that if Bitcoin falls 90% and stays there for four or five years, we would still be stable." TheStreet Roundtable reached out to Strategy's team for comments on the lawsuit but has not received a response at the time of press. New lawsuit accuses MicroStrategy of 'misleading' shareholders first appeared on TheStreet on Jun 10, 2025 This story was originally reported by TheStreet on Jun 10, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
CEO who sees Bitcoin hitting $1M now favors Tesla
CEO who sees Bitcoin hitting $1M now favors Tesla originally appeared on TheStreet. ARK Invest's CEO, Cathie Wood, conservatively estimates that Tesla's (TSLA) stock will reach $2,600 per share by 2030, representing a 744% increase from its current price. Wood's prediction is primarily tied to the forthcoming robotaxi platform, on a podcast called The Diary of a CEO. She refers to Tesla as potentially redefining its original model of selling electric vehicles for a one-time fee to customers who may rarely or never recharge, a major source of revenue. Instead, Wood argues that the major source of revenue for Tesla will now come from its autonomous vehicles, generating active recurring revenue. Elon Musk, CEO of Tesla, stated on a recent earnings call that Tesla's self-driving cars could function like Airbnb, allowing owners to generate passive income by renting out their cars when they're not in use. Owners could list their vehicles for short-term rentals, converting their idle assets into money-making machines. This model aligns well with the concept of decentralization underlying blockchain, which suggests that the two could work together. Crypto-based payments and smart contracts could facilitate the easy management and automation of transactions on this type of sharing platform, resulting in precise and quick settlements. Tesla could generate even more revenue by incorporating blockchain technology and utilizing cryptocurrency for ride payments or subscriptions. Tesla CEO Elon Musk also partnered with Polymarket, a cryptocurrency-based prediction market, for his other company, X. Wood sees Tesla and its customers having the potential to generate revenue in two ways: through subscription or pay-as-you-go models, depending on the vehicle's usage. If blockchain is incorporated, crypto could exist with both payment structures. "You could subscribe to the network. It could be either or subscription or à la carte if you don't think you're going to use it that much," said Wood. Cathie Wood's ARK Invest has made big crypto predictions in the past. She predicts Bitcoin will be worth $1.5 million by 2030 and supports a base case of $700,000. In the most optimistic scenarios, it could be worth $1 million. ARK's spot Bitcoin ETF (ARKB) now manages over $2.2 billion, indicating that large institutions are very interested in it. Wood's company also invested $373 million in Circle's initial public offering, which provided access to USDC and blockchain payments. Interestingly, Kraken has announced that users can now access tokenized stocks of Tesla around the clock, providing investors outside the U.S. with the chance to purchase stocks, bridging the gap between traditional finance and cryptocurrency. At press time, Tesla is trading at 318.35, up 3.17% over the last 24 hours. CEO who sees Bitcoin hitting $1M now favors Tesla first appeared on TheStreet on Jun 10, 2025 This story was originally reported by TheStreet on Jun 10, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
2 hours ago
- Business Wire
KNOW LABS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Know Labs, Inc.
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ('KSF') are investigating the proposed sale of Know Labs, Inc. (NYSE: KNW) to Goldeneye 1995 LLC ('Buyer'). Under the terms of the proposed transaction, the Buyer will acquire that number of shares of the Company's common stock obtained by dividing (i) the sum of 1,000 Bitcoin and a cash sum to retire existing debt, redeem outstanding preferred equity and provide additional working capital, by (ii) the per share purchase price of $0.335. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company. If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ( toll free at any time at 855-768-1857, or visit to learn more. To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit
