The trade war between the US and Canada could disrupt Bitcoin mining operations, potentially affecting up to 1.5 million customers in New York, Michigan, and Minnesota.
Miners in the US Northeast, specifically along the New York-Canada border, face a significant risk if Ontario curtails or halts electricity exports.
The potential loss of 300-500 MW of Bitcoin mining capacity accounts for between 2.5% and 5% of global hashrate.
Higher energy prices due to tariffs could make current Bitcoin mining machines unprofitable, leading to a decline in Bitcoin's hashrate.