Bitcoin Miners Pull Back, Businesses Load Up: June Crypto Trends at a Glance

Bitcoin network activity took a noticeable hit in June as the summer heat baked the U.S. grid. While miners powered down, a wave of public and private companies added BTC to their books. And in the background, Asia opened the doors to crypto while hacks drained another $150 million.

Hashrate Drops 15% As Heat Wave Hits Miners

Bitcoin’s hashrate fell from 942.6 million TH/s to 799 million TH/s in June — the steepest drop in three years. While some speculated whether geopolitical tension in the Middle East might be impacting global infrastructure, the more likely culprit is closer to home: the first summer heat wave in the United States.

As electricity demand surged across states like Texas and Georgia, mining costs skyrocketed. For smaller operators or those running on razor-thin margins, powering off became the only viable option.

$150M Lost in Hacks This Month Alone

According to TRM Labs, crypto hacks and exploits drained $150 million from users and protocols in June. That brings the 2025 total to $2.15 billion — already half a billion more than the same period in 2024.

A full 80% of June’s losses came from infrastructure breaches like seed phrase thefts and compromised front-ends. Smart contract bugs, often blamed in the past, only accounted for 12%.

TRM noted “increased strategic intent” from state actors and criminal groups, pushing the need for stronger practices across the board: cold storage, multi-factor authentication, and frequent audits.

26 Companies Add Bitcoin to Their Balance Sheets

Inspired by Strategy’s lead, 26 new companies added BTC to their treasuries in June, bringing the total to 250 businesses worldwide holding Bitcoin on their books.

Strategy’s tactic — using debt to buy BTC — continues to pay off. The company’s stock (MSTR) rose 6% in June alone. Analysts now estimate a 91% chance it joins the S&P 500 this quarter.

Still, not everyone is convinced. A June report from Breed Capital warned that if BTC prices correct sharply, many of these treasury-holding firms could be forced to liquidate, triggering a broader selloff.

Asia’s Crypto Momentum Builds

Four Asian nations took decisive pro-crypto steps in June:

• Thailand extended its crypto capital gains tax exemption through 2029.
• South Korea proposed a framework for stablecoin issuance and refund protections.
• Malaysia launched a Digital Asset Innovation Hub sandbox.
• Hong Kong began drafting a rulebook to allow crypto derivatives trading.

South Korea’s central bank even endorsed the idea of a won-backed stablecoin, suggesting it could reduce reliance on dollar-backed alternatives.

Licenses Granted: Global Compliance Ramps Up

Crypto firms continued securing critical licenses in June:

• Coinbase, Kraken, Gemini all locked down MiCA approvals to operate across the EU.
• Bitget secured a license in Georgia.
• MoonPay obtained a BitLicense in New York.
• JD.com, Inc. and Ant Group began seeking global approvals for stablecoin operations.

Regulatory momentum is shifting from resistance to integration — especially in markets hungry for innovation and oversight.

Seven U.S. States Push New Crypto Laws

At the state level, seven U.S. states passed or progressed crypto-friendly legislation in June:

• Texas now requires the state to hold Bitcoin reserves.
• Oregon, Colorado, Connecticut, Louisiana, and Rhode Island updated laws to regulate or define crypto ATMs, digital assets, and blockchain studies.
• Florida attempted to pass crypto kiosk rules, but the bill died in committee.

Meanwhile, the GENIUS Act passed the U.S. Senate — a symbolic step forward for crypto at the federal level.