Global Crypto Mining News in June：Miner BTBT Shifts to Ethereum MicroStrategy, Bhutan's Bitcoin Reserves Reach 40% of GDP, and All Three Major Mining Rig Manufacturers Establish U.S. Factories, etc
1.
The International Monetary Fund (IMF) has expressed serious concern over Pakistan’s recent announcement to allocate 2,000 MW of electricity for Bitcoin mining and AI data centers. It has demanded an urgent explanation from the Ministry of Finance regarding the legality of the plan, power distribution, and resource utilization. The IMF noted that the decision was made without prior consultation and comes amid Pakistan’s ongoing energy crisis and fiscal vulnerabilities, potentially impacting ongoing budget negotiations.
2.
Publicly listed Bitcoin mining company MARA released its unaudited Bitcoin production update for May. The company mined 950 BTC last month, a 35% month-over-month increase, bringing its total holdings to 49,179 BTC. MARA did not sell any BTC in May.
3.
Nasdaq-listed crypto mining firm CleanSpark announced it produced 694 BTC in May, bringing its Bitcoin holdings to 12,502 BTC as of May 31. The company sold a total of 293.5 BTC during the month at an average price of approximately $102,254 per BTC.
4.
Bitcoin mining firm Riot Platforms (RIOT) produced 514 BTC in May, an 11% increase from April and a 139% increase year-over-year. The company sold nearly all newly mined Bitcoin, generating $51.3 million in revenue at an average price of $102,591 per BTC. (Coindesk)
5.
BitFuFu published its May 2025 Bitcoin mining and operations update, reporting a total of 400 BTC mined — a 91.4% month-over-month increase, with 357 BTC mined by cloud mining clients. Total managed hashrate rose to 34.1 EH/s, up 20.5% from April. The company sold 178 BTC at an average price of $104,000 to cover operating expenses and enhance liquidity. As of May 31, it held 1,709 BTC.
6.
Bitcoin mining firm BitMine Immersion Technologies (NYSE American: BMNR) completed a public offering of 2.25 million shares at $8 per share, raising a total of $18 million. The company plans to use the net proceeds to directly purchase Bitcoin. BitMine’s stock is now listed on the NYSE American exchange under the ticker “BMNR” as of June 5, ending its OTCQX trading.
7.
Ukraine’s National Police Cybercrime Unit arrested a man accused of crypto-jacking. The suspect allegedly breached over 5,000 customer accounts of an international hosting service company and used its servers to deploy virtual machines and mining software for illegal crypto mining, causing losses of over 185 million UAH (approximately $4.4 million). (Cointelegraph)
8.
Tether CEO Paolo Ardoino announced that its Bitcoin mining operating system MOS (Mining OS) will be open-sourced in Q4 2025. The modular system supports a wide range of deployments, from Raspberry Pi to large-scale farms. It includes plugins for various miners and power devices and allows custom extensions. MOS will integrate with Tether’s QVAC tool to optimize performance and reporting, aiming to lower entry barriers for small and medium-sized miners and promote open mining infrastructure.
9.
U.S. energy management firm KULR announced a new at-the-market (ATM) equity offering plan to raise up to $300 million, partly to increase its Bitcoin holdings. KULR currently holds 800 BTC and officially incorporated Bitcoin into its core treasury strategy by the end of 2024. The company also signed a mining equipment lease deal worth over $4 million and recently acquired nearly 700 BTC via Coinbase. (CoinDesk)
10.
American Bitcoin, a mining firm backed by the Trump family, has accumulated 215 BTC worth over $23 million since its launch in April. In an SEC filing, the company stated Bitcoin is considered a long-term asset and will continue to increase its holdings, though no specific reserve target was set. It will assess funding needs based on market conditions. (Cointelegraph)
11.
Jason Hughes, VP of the OCEAN mining pool, announced his exit from the industry and the sale of all his Bitcoin in protest of upcoming Bitcoin Core changes to the OP_RETURN rules. Thirty-one core developers signed a letter supporting an increase of the default mempool transaction limit to 4MB in the upcoming Bitcoin Core v30 (October), enabling data on-chain use for DAOs, oracles, and more. The move sparked controversy, and Hughes expressed disappointment, claiming Bitcoin’s uniqueness is gone. He has already received job offers from outside the crypto industry.
12.
Bitcoin mining firm IREN (formerly Iris Energy, listed on Nasdaq) plans to raise $450 million through a convertible senior note offering to qualified institutional investors, with an additional $50 million option. Part of the funds will be used for capped call transactions and a prepaid share repurchase agreement of up to $100 million to reduce dilution and stabilize the stock price. The remainder will support general operations and working capital. (The Block)
13.
Bitdeer released its unaudited May 2025 mining and operations update, reporting 196 BTC mined — a month-over-month increase of 18.1% — bringing its total BTC holdings to 1,351. The company also disclosed that Tether exercised warrants in May 2025, resulting in the issuance of 5,186,627 shares and raising $50 million in cash. This transaction is linked to a private placement from May 2024.
14.
Bitcoin mining and cloud mining service provider BitFuFu launched a new at-the-market (ATM) equity offering plan to raise up to $150 million. According to its SEC filing, BitFuFu signed a sales agreement on June 10 with B Riley Securities, Cantor Fitzgerald, Northland Securities, and Roth Capital Partners. Under the agreement, the company may issue and sell Class A common stock from time to time on Nasdaq or other markets as needed.
15.
UK-listed Bitcoin mining company Vinanz announced it has completed a retail offer (Retail Offer WRAP), raising £3.6 million (approx. $4.88 million). The funds will be used to expand Bitcoin holdings and support business growth.
16.
Ohio’s “Bitcoin Rights” bill HB 116 passed unanimously (13–0) in the state House Technology and Innovation Committee. The bill protects citizens’ rights to self-custody, run nodes, and engage in mining, and introduces a $200 capital gains tax exemption per crypto asset transaction.(Cointelegraph)
17.
The world’s three largest Bitcoin mining rig manufacturers — Bitmain, Canaan, and MicroBT — have all established factories in the U.S. to avoid tariffs imposed by the Trump administration. The Chinese companies collectively hold over 90% of the global market share. Canaan has started trial production in the U.S., aiming to minimize tax exposure while managing risk. MicroBT is also advancing its localization strategy.
18.
Bitdeer announced the successful issuance of $330 million in convertible bonds to fund development of its SEALMINER ASIC miners and data center expansion. The initial fundraising target was $300 million, later increased to $330 million, with an additional $45 million overallotment option. Of the proceeds, $129.6 million will fund zero-strike price options, and $36.1 million will be used for bond swaps with existing high-yield convertible noteholders.
19.
The Norwegian government plans to investigate a potential temporary ban on cryptocurrency mining this fall to alleviate pressure on electricity, network capacity, and land resources. The ban could be enacted under the Planning and Building Act, which grants the government authority over energy allocation. Previously, Norwegian citizens had called for mining facilities to be shut down due to noise complaints. (Cointelegraph)
20.
Norwegian deep-sea mining firm Green Minerals has launched a “Bitcoin Treasury” strategy and aims to raise up to $1.2 billion with partners. Bitcoin will serve as a core part of the company’s financial structure. Green Minerals plans to gradually accumulate BTC and introduce a BTC/share metric.
21.
Canaan Inc., a publicly listed mining hardware manufacturer, announced it will discontinue its non-core AI chip business to focus on Bitcoin miner sales, self-mining, and consumer mining products. The company said the restructuring aims to streamline operations, improve capital efficiency, and reduce non-core expenses. In FY2024, the AI business generated only $900,000 in revenue but accounted for 15% of operating expenses.
22.
Bitcoin mining company Genesis Digital Assets (GDA) announced a purchase agreement with Auradine for 1,000 of its latest AT2880–277 air-cooled mining rigs. The devices will be deployed at its Texas data center and offer up to 260 TH/s per unit with energy efficiency as low as 16 J/TH. GDA stated that this deal aligns with its sustainability and grid-responsiveness goals and is part of its U.S. expansion strategy.
23.
Publicly listed mining company Hut 8 announced an amendment and expansion of its Bitcoin-backed credit facility with Coinbase Credit, increasing the loan limit from $65 million to $130 million and extending the term to July 16, 2026. The revised deal includes a lower fixed interest rate of 9%, improved collateral terms, and new non-dilutive capital to support Hut 8’s expansion in high-performance computing and Bitcoin mining.
24.
Hong Kong-listed company DLA Holdings (1709.HK) announced a strategic cooperation agreement with mining pool operator ViaBTC. The two parties plan to form a joint venture to engage in cryptocurrency OTC trading, provide asset management and family office services to OTC and mining clients, and explore establishing a Bitcoin reserve and applying for virtual asset trading and management licenses.
25.
Bit Digital (Nasdaq: BTBT) announced a full strategic pivot toward Ethereum staking and asset allocation, gradually phasing out its Bitcoin mining business. The company plans to reinvest mining revenue into ETH. As of the end of March, Bit Digital held about 24,434 ETH and 418 BTC, valued at approximately $44.6 million and $34.5 million, respectively, and intends to convert all BTC to ETH over time. (The Block)
26.
Canadian-listed Neptune Digital Assets released an update on its Bitcoin treasury strategy. The company currently holds 404 BTC and plans to expand its reserves through DCA, Bitcoin mining, and Solana staking. Neptune noted that staking 33,312 SOL yields around 7.5% annually, and the company also earns 50% to 100% annualized returns from selling SOL options, which it uses to acquire more BTC.
27.
AI infrastructure firm CoreWeave is in talks to acquire Bitcoin miner Core Scientific. An earlier offer of $5.75 per share made in 2024 was rejected, then valuing the miner at just over $1 billion. With Core Scientific’s market cap now at around $3.7 billion, the expected deal will likely include a premium and could be finalized within weeks.
28.
Bitcoin miner Bit Digital recently raised $150 million via a public offering to accelerate its transition from Bitcoin mining to Ethereum staking and treasury management. The offering included 75 million shares at $2 each, with underwriters allowed to purchase up to an additional 11.25 million shares within 30 days. Proceeds will be used to purchase Ethereum.
29.
Since launching its Bitcoin mining initiative in 2020, Bhutan has accumulated approximately $1.3 billion in Bitcoin, nearly 40% of the country’s GDP, making it the third-largest government Bitcoin holder globally. Leveraging its abundant hydropower, Bhutan has built at least six mining farms and partnered with Bitdeer. The country plans to hold Bitcoin long-term and integrate crypto into tourism payments and future smart city development.
30.
Cango announced it has acquired 18 EH/s of Bitcoin hashrate from Bitmain affiliate Antalpha, pushing its total hashrate past 50 EH/s, making it the third listed miner after MARA and CleanSpark to reach that scale. The transaction was completed by issuing approximately 146.7 million shares. Equipment is already operating in the U.S., and multiple sellers now hold a combined 41.38% stake in Cango. (TheMinerMag)
31.
Bitmain officially launched its ANTRACK V2 liquid cooling miner solution on June 25. The product includes a cabinet that houses four liquid-cooled mining machines and an external cooling system priced at $8,888. The cooling system features a heat pump module that recycles heat at 80°C while maintaining stable cooling, improving energy efficiency.
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