Bitfarms CEO Ben Gagnon has highlighted the critical role of energy access and deregulation in the future of Bitcoin mining, especially amid evolving geopolitical challenges. Speaking in a Bloomberg TV interview, Gagnon discussed how ongoing trade tensions and shifting energy policies could impact mining operations in North America.

Energy Markets and Geopolitical Challenges

Affordable and reliable energy remains essential for Bitcoin mining success

For over 200 years, both the US and Canada have been energy-driven economies. However, ongoing trade tensions and tariffs could create instability in energy markets, potentially affecting Bitcoin miners.

• Quebec and Alberta are primary locations for Bitfarms due to competitive energy pricing.
• Ontario is less attractive due to its weaker energy market and reduced capacity.
• Regulatory support is needed to maintain stable energy costs and ensure long-term growth.

Gagnon emphasized that deregulation and improved market access are crucial for Bitcoin miners to expand their businesses.

Strategic Acquisitions Strengthen Market Position

Bitfarms is expanding its geographical footprint to secure energy access

To navigate regulatory and economic challenges, Bitfarms has shifted its focus:

• Increased North American presence from 40% to 80%, with 66% now in the US.
• Geographic diversification ensures better energy access and operational efficiency.
• Transition of industrial energy infrastructure to Bitcoin mining presents new growth opportunities.

“For years, miners have been investing in energy assets once used for industries like aluminum smelting. As demand shifts back to North America, these resources are becoming highly valuable,” Gagnon noted.

Regulatory Uncertainty and Policy Changes

Clearer regulations are needed to ensure long-term stability for miners

While the industry remains bullish, regulatory uncertainty poses a significant challenge.

• President Trump’s discussions on a strategic Bitcoin reserve highlight growing governmental interest in Bitcoin.
• Greater clarity on crypto and energy regulations is essential for industry expansion.
• Access to electricity markets and supportive policies will be key to driving long-term success.

Gagnon stressed that continued deregulation and market-friendly policies will shape the future of Bitcoin mining and enable greater growth.