Hey there! Big news just dropped on Cointelegraph (April 8, 2025): Trump’s new tariffs might crash U.S. demand for Bitcoin mining rigs, giving non-U.S. miners a chance to scale up and grab more of Bitcoin’s hashrate! This could mean a global shift in the crypto mining landscape.
How does this affect Steemit? As more miners look for alternative ways to engage with crypto, Steemit could become a hotspot for them to share knowledge and earn rewards. But our rewards are volatile—STEEM is at $0.12 and TRX at $0.24, so a 1,000 STEEM reward is $120, but if STEEM drops to $0.10, it’s only $100! I think we should create content like “Top 5 Tips for Bitcoin Miners in a Tariff Era” to attract this crowd. What do you think—any other ideas to draw in miners to Steemit? Let’s discuss!
Step 1: Gather the Latest News About Bitcoin
Given the current date and time (April 8, 2025, 10:59 PM PDT), I'll focus on the most recent news about Bitcoin from the web results, ensuring no overlap with previous messages (e.g., Bitcoin price drops, Gen Z adoption in Chile, GameStop's investment, or price predictions).
Trump Tariffs Impact on Bitcoin Mining (April 8, 2025): Cointelegraph reports that U.S. President Donald Trump’s sweeping tariffs could reduce U.S. demand for Bitcoin mining rigs, benefiting non-U.S. miners. Hashlabs Mining CEO Jaran Mellerud notes that mining machine prices may rise in the U.S. while falling elsewhere, allowing non-U.S. operations to scale up and capture more of Bitcoin’s hashrate.
Justice Department Scales Back Crypto Cases (April 8, 2025): The Washington Post states that the U.S. Justice Department, under Trump’s directives, is limiting pursuit of certain cryptocurrency crimes, focusing on fraud and victim-centered cases rather than technical violations. This shift aims to protect consumers in the "Wild West" of crypto.
Bitcoin’s Correlation with Tech Stocks (April 8, 2025): Yahoo Finance highlights a study by Standard Chartered showing Bitcoin’s correlation with tech stocks at 0.5 (down from 0.8 earlier in 2025). With tech stocks declining amid Trump’s tariffs, Bitcoin is behaving like a volatile tech stock, down nearly 30% from its 2025 high, while gold surpasses $3,000.
BlackRock’s Bitcoin ETF in Europe (April 7, 2025): Reuters notes that BlackRock launched its first Bitcoin exchange-traded product (ETP) in Europe, following $50 billion in similar U.S. products, tapping into growing demand for crypto exposure.
.jpg)