In March 2025, Bitcoin’s hashrate soared to 850 million TH/s, highlighting increased mining competition. However, mining costs have sharply risen to 87,000 USD per Bitcoin, driven primarily by higher electricity prices and the costs of mining hardware.

US tariffs on Chinese ASIC imports are straining operational capacities and supply chains for miners, raising costs and jeopardizing profitability. The industry, particularly smaller players, faces heightened risks as dependency on single manufacturers like Bitmain creates vulnerabilities.