Bitcoin Hashrate Falls While BTC Treasuries Grow: June in Charts

Bitcoin’s Hashrate Drops 15% Amid Summer Heatwave

Bitcoin’s network hashrate saw a steep 15% decline in June, dropping from 942.6 million terahashes per second (TH/s) to just under 800 million TH/s. This marks the sharpest drop in over three years. While some attributed the dip to Israel’s infrastructure strikes on Iran — potentially impacting mining operations — energy strain from heatwaves in the U.S. is a more likely culprit. Higher cooling demand drove up electricity costs, forcing marginal mining operations offline.

Crypto Hacks Surge, Losses Reach $150 Million

Blockchain security firm TRM Labs reports $150 million in losses from crypto-related hacks in June alone, bringing the 2025 total to $2.15 billion. Most attacks stemmed from infrastructure vulnerabilities, including private key thefts, seed phrase leaks, and compromised front ends. TRM warned that these exploits are increasingly driven by nation-state actors and geopolitical motives, urging stricter security measures such as MFA, cold storage, and regular audits.

250 Companies Now Hold Bitcoin on Their Balance Sheets

Following in the footsteps of Strategy’s Michael Saylor, 26 more companies added Bitcoin to their treasuries in June, raising the total to 250. Strategy itself gained 6% in stock price during the month, despite aggressive debt issuance to fund additional BTC purchases. However, a June report by Breed VC cautioned that most companies in the Bitcoin treasury trend may not survive long-term volatility, particularly if faced with sharp BTC price declines.

Asian Nations Push Forward Pro-Crypto Legislation

Crypto saw significant policy progress across Asia this month. Thailand extended its capital gains tax exemption on crypto until December 2029. South Korea introduced a bill enabling stablecoin issuance for companies with at least $368,000 in equity and received endorsement from the Bank of Korea for a won-backed stablecoin. Meanwhile, Malaysia launched a regulatory sandbox, and Hong Kong moved toward allowing crypto derivatives trading for professional investors.

Five Major Crypto Firms Win Global Licenses

June was an active month for regulatory expansion. Coinbase, Kraken, and Gemini secured European MiCA licenses, giving them legal footing across the EU. Bitget obtained approval to operate in Georgia, while MoonPay earned a coveted BitLicense from New York state. JD.com, Inc. and Ant Group both announced stablecoin licensing ambitions, though locations remain undisclosed.

Seven U.S. States Pass Crypto-Focused Legislation

While federal crypto policy remains complex, seven states passed meaningful crypto laws in June. Texas enacted a Bitcoin reserve bill and introduced new forfeiture policies for crypto linked to crime. Colorado and Oregon expanded property and fraud rules to include digital assets. Louisiana introduced a licensing regime for crypto kiosks and launched a study committee for AI, crypto, and blockchain. Connecticut and Rhode Island made crypto ATM reforms and licensing updates. Florida failed to pass similar kiosk regulations.

Sources: TRM Labs, Breed VC, Coinbase, Kraken, South Korean Democratic Party, Bank of Korea, Thai Cabinet, Press News Research