Despite high Bitcoin prices and support from former President Donald Trump, leading U.S. miners are facing serious financial challenges.
Miner Losses in Q1 2025
Analysts predict that seven of the eight largest U.S. Bitcoin mining companies will show losses in Q1 2025, transitioning from a $1.1 billion profit in Q1 2024 to an expected loss of $190 million in Q1 2025.
Rising Tariffs and Record Mining Difficulty
Bitcoin's mining difficulty has reached an all-time high, reducing profitability per block. A significant factor impacting this situation has been tariff hikes on mining equipment, leading to increased costs and diminished competitiveness for U.S. miners.
Complicated Situation for Bitcoin Miners
Despite Trump's promises of promoting U.S. Bitcoin production, the challenges in the industry stem from a mismatch of trade and economic policies that negatively affect profits. Only one of the eight largest companies, CleanSpark Inc., is expected to report a profit in Q1 2025.
The situation with U.S. Bitcoin miners shows that even high-level support cannot eliminate the impact of global economic factors and local political decisions.
