Wu Shuo June Mining News: Mining company BTBT shifts to Ethereum microstrategy, Bhutan's Bitcoin reserves account for 40% GPU, and three major mining machine manufacturers have factories in the United States, etc.
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The International Monetary Fund (IMF) has expressed serious concerns regarding Pakistan's recent announcement to allocate 2,000 megawatts of electricity for Bitcoin mining and AI data centers. It has requested the Ministry of Finance to provide urgent clarification on the legality of the plan, electricity allocation, and resource utilization. The IMF pointed out that this move was not communicated to them beforehand and may affect ongoing budget negotiations, especially at a time when Pakistan is facing energy shortages and financial fragility.
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Bitcoin mining company MARA released its unaudited Bitcoin production update for May, disclosing that it mined 950 $BTC last month, a 35% increase month-over-month, bringing its total Bitcoin holdings to 49,179. MARA decided not to sell any $BTC in May.
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Nasdaq-listed crypto mining company CleanSpark announced that it mined 694 Bitcoin in May, bringing its Bitcoin holdings to 12,502 as of May 31. The company sold a total of 293.5 Bitcoin during the month at an average price of approximately $102,254.00 per coin.
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Bitcoin mining company Riot Platforms (RIOT) mined 514 $BTC in May, an 11% increase from April and a 139% increase year-over-year. The company sold almost all of its newly mined Bitcoin, generating $51.30 million in revenue at an average price of $102,591.00 per coin. (Coindesk)
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BitFuFu announced its Bitcoin mining and operations update for May 2025, stating that it produced 400 Bitcoin during the month, a 91.4% increase month-over-month, with 357 coming from cloud mining customers. Total managed hashrate increased to 34.1 EH/s, a 20.5% increase month-over-month. The company sold 178 Bitcoin during May at an average price of $104,000.00 to cover operating expenses and enhance liquidity. As of May 31, the company held 1,709 Bitcoin.
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Bitcoin mining company BitMine Immersion Technologies (NYSE American: BMNR) announced the completion of a public offering of 2.25 million shares, priced at $8.00 per share, raising a total of $18.00 million. The company plans to use the net proceeds to directly purchase Bitcoin. Additionally, BitMine stock has been approved for listing on the NYSE American exchange on June 5, with the ticker symbol "BMNR," and trading on the OTCQX market will be terminated simultaneously.
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The Cybercrime Department of the Ukrainian National Police arrested a man suspected of crypto hijacking. Police stated that the man hacked over 5,000 customer accounts of an international hosting service company and used its servers to deploy virtual machines and crypto miners for illegal mining, causing the company to suffer economic losses of over 185.00 million Ukrainian hryvnia (approximately $4.40 million). (Cointelegraph)
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Tether CEO Paolo Ardoino stated that its Bitcoin mining operating system, MOS (Mining OS), will be open-sourced in the fourth quarter of 2025. MOS has a modular architecture, supports various deployment scenarios from Raspberry Pi to large-scale mining farms, integrates multiple miner and power equipment plugins, and allows users to customize extensions. The official announcement stated that the system will be combined with Tether's QVAC tool to optimize mining performance and report generation, aiming to lower the barrier for small and medium-sized miners and promote the opening of mining infrastructure.
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U.S. energy management company KULR announced plans to raise up to $300.00 million through an "at-the-market (ATM)" common stock offering program for various corporate purposes, including increasing its Bitcoin holdings. As of now, KULR holds 800 Bitcoin and formally incorporated Bitcoin into its core financial reserve strategy at the end of 2024. KULR also recently signed mining equipment leasing agreements worth over $4.00 million and purchased nearly 700 Bitcoin on the open market through Coinbase. (CoinDesk)
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American Bitcoin, a mining company backed by the Trump family, has accumulated 215 $BTC worth over $23.00 million since its establishment in April of this year. American Bitcoin stated in a filing with the SEC that Bitcoin is a long-term asset and will continue to increase its holdings, but has not set a specific reserve target, and will dynamically assess financing needs based on market conditions to expand its reserve scale. (Cointelegraph)
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OCEAN mining pool Vice President Jason Hughes announced that he would sell all of his Bitcoin and leave the industry due to his opposition to Bitcoin Core's upcoming adjustment to the OP_RETURN rules. 31 core developers signed a letter yesterday, planning to increase the default mempool transaction limit to 4MB in the next Bitcoin Core v30 update (October) to support data on-chain for DAOs, oracles, etc. This move has sparked controversy. Hughes expressed disappointment, believing that Bitcoin's uniqueness no longer exists. He has received job offers from non-crypto industries.
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Bitcoin mining company IREN (Nasdaq-listed, formerly Iris Energy) plans to raise $450.00 million through the issuance of convertible senior notes to qualified institutional investors, with an additional $50.00 million option to issue more. Part of the funds will be used to execute capped call option transactions and a prepaid share repurchase agreement of up to $100.00 million to reduce equity dilution and stabilize the stock price, with the remaining funds used for general operations and working capital. (The Block)
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Bitdeer announced its unaudited mining and operations update report for May 2025, disclosing that it mined 196 Bitcoin, an 18.1% increase compared to April, and currently holds 1,351 Bitcoin. In addition, Bitdeer disclosed that Tether exercised warrants in May 2025, and the company issued 5,186,627 ordinary shares and received $50.00 million in cash as proceeds. This transaction was related to a private placement that occurred in May 2024.
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Bitcoin mining and cloud mining service provider BitFuFu launched a new at-the-market (ATM) stock offering program, seeking to raise up to $150.00 million. According to its filing with the SEC, the company entered into an ATM sales agreement with B Riley Securities, Cantor Fitzgerald, Northland Securities, and Roth Capital Partners on June 10. Under the agreement, BitFuFu may issue and sell Class A common stock from time to time through the aforementioned agents as needed, and the stock will be sold on Nasdaq or other trading markets.
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UK-listed Bitcoin mining company Vinanz announced the completion of its retail offering (Retail Offer WRAP), raising a total of £3.60 million (approximately $4.88 million). The company stated that the financing will be used to further increase its Bitcoin holdings and support business expansion.
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The "Bitcoin Rights" bill HB 116 in Ohio, USA, was passed unanimously by the State House of Representatives Technology and Innovation Committee with a vote of 13:0. The bill guarantees citizens' rights to self-custody, node and mining freedom, and establishes a capital gains tax exemption of $200.00 per transaction for crypto assets. (Cointelegraph)
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The world's three largest Bitcoin mining machine manufacturers, Bitmain, Canaan, and MicroBT, have all established factories in the United States to circumvent the latest tariffs imposed by the Trump administration. The three companies are from China and account for over 90% of the global market share. Canaan stated that it has started trial production in the United States, aiming to control input risks while avoiding taxes. MicroBT said it is promoting a localization strategy.
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Bitdeer announced the completion of a $330.00 million convertible bond offering to provide funding support for its ASIC miner SEALMINER development and data center expansion. The financing was originally targeted at $300.00 million but was eventually increased to $330.00 million, with an additional $45.00 million over-allotment option. Bitdeer stated that the proceeds from this financing will be used for various purposes, including $129.60 million to establish a zero-strike call option structure, and $36.10 million in cash for bond swaps with previous high-yield convertible bondholders.
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The Norwegian government plans to launch an investigation this fall to assess whether to implement a temporary ban on Cryptocurrency mining to alleviate the strain on electricity, network capacity, and land resources. The ban could be enforced under the Planning and Building Act, which grants the government the power to allocate energy. Previously, Norwegian citizens had called for the closure of mining facilities due to noise issues. (Cointelegraph)
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Norwegian deep-sea mining company Green Minerals launched a Bitcoin treasury strategy, planning to raise up to $1.20 billion with partners and make Bitcoin the core of its financial structure. Green Minerals stated that it will gradually purchase Bitcoin and introduce a "Bitcoin per share" (BTC/share) metric.
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Listed mining machine manufacturer Canaan Inc. announced that it will discontinue its non-core AI semiconductor business to focus on core crypto-related businesses such as Bitcoin mining machine sales, self-operated mining, and consumer mining products. Canaan stated that the adjustment aims to streamline operations, improve capital efficiency, and reduce non-core expenditures. In fiscal year 2024, the AI business generated only approximately $900,000.00 in revenue but accounted for approximately 15% of operating expenses.
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Bitcoin mining company Genesis Digital Assets (GDA) announced a purchase agreement with Auradine to introduce 1,000 of the latest model AT2880–277 air-cooled miners, to be deployed in its Texas data center. The batch of equipment has a single-unit hashrate of up to 260 TH/s and a power efficiency of as low as 16 J/TH. GDA stated that the cooperation is in line with its strategic goals in sustainability and grid response support, and is also part of its US expansion plan.
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Listed Bitcoin mining company Hut 8 announced that it has amended and expanded its Bitcoin-backed credit facility with Coinbase Credit from $65.00 million to up to $130.00 million, and extended the loan term to July 16, 2026. The adjustments include a fixed interest rate reduction to 9%, an improved collateral structure, and new non-dilutive funding, which will support Hut 8's expansion plans in areas such as high-performance computing and Bitcoin mining.
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Hong Kong-listed company Deren Holdings (1709.HK) announced that it has signed a strategic cooperation term sheet with mining pool operator ViaBTC, intending to establish a joint venture to jointly conduct Cryptocurrency OTC transactions, provide asset management and family office services for OTC and miner clients, and explore the establishment of Bitcoin reserves and apply for virtual asset trading and management platform licenses.
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Bit Digital (Nasdaq: BTBT) announced that it will fully transform into a company focused on Ethereum staking and asset allocation, planning to gradually close its Bitcoin mining business and reinvest the related proceeds into ETH. As of the end of March, the company held approximately 24,434 ETH and 418 $BTC, worth approximately $44.60 million and $34.50 million, respectively, and will gradually convert all $BTC into ETH in the future. (The Block)
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Canadian listed company Neptune Digital Assets announced the latest progress of its Bitcoin reserve strategy, currently holding 404 $BTC, and plans to continue to expand its Bitcoin reserves through fixed investments, Bitcoin mining, and Solana staking. Neptune stated that staking 33,312 SOL can generate an annualized yield of approximately 7.5%, and also obtains an annualized yield of 50% to 100% by selling SOL options, which is used to further purchase BTC.
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Artificial intelligence infrastructure company CoreWeave is in talks to acquire Bitcoin mining company Core Scientific, after its offer of $5.75 per share in 2024 was rejected, which valued the latter at slightly over $1.00 billion. As Core Scientific's stock price has doubled to a market value of approximately $3.70 billion, the transaction is expected to include a premium, and if successful, it may be reached within a few weeks.
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Bitcoin mining company Bit Digital recently raised $150.00 million through a public offering, aimed at accelerating its strategic transformation from Bitcoin mining to Ethereum staking and treasury asset management. The offering sold 75.00 million shares at a price of $2.00 per share, and underwriters can purchase up to an additional 11.25 million shares within 30 days. The funds raised will be used to purchase Ethereum.
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Bhutan launched a Bitcoin mining program in 2020 and has since accumulated Bitcoin reserves worth approximately $1.30 billion, accounting for nearly 40% of the country's GDP, making it the third-largest government holder of Bitcoin in the world. Bhutan relies on abundant hydropower resources for mining, has built at least six mines, and has partnered with mining company Bitdeer. The country plans to hold Bitcoin for the long term and gradually promote the application of Cryptocurrency in tourism payments and future urban construction.
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Cango announced that it has completed the acquisition of 18 EH/s of Bitcoin hashrate from Bitmain affiliate Antalpha, bringing its total hashrate to over 50 EH/s, making it the third listed mining company to reach this scale after MARA and CleanSpark. The transaction was completed through the issuance of approximately 146.70 million shares, and the equipment has been put into operation in the United States. Multiple sellers hold a total of 41.38% of the shares. (TheMinerMag)
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Bitmain officially launched its liquid-cooled miner solution ANTRACK V2 on its website on June 25. The product consists of a cabinet that can accommodate 4 liquid-cooled miners and an external cooling system, priced at $8,888.00. The external cooling system integrates a heat pump module, which can achieve 80°C heat recovery while providing stable cooling, improving energy utilization efficiency. [吴说区块链]