Trade talks impact Bitcoin mining costs amid US-China crypto and financial infrastructure shifts

Recent US-China trade discussions highlight that Bitcoin demand in mainland China remains suppressed due to reinforced crypto restrictions. Instead, the focus is on evolving financial infrastructure, with US firms like BlackRock and Goldman Sachs expanding Bitcoin ETFs and tokenized products, while Hong Kong advances regulated digital finance through stablecoin licensing. Bitcoin mining costs are directly affected by China-dependent supply chains for ASIC hardware and rare earth materials, making trade outcomes critical for mining investment and global hashrate growth. The visit underscores broader integration of digital assets into global finance rather than a shift in China's crypto policy.