Rising US inflation tempers investors’ interest rate cut hopes, leaving Bitcoin at a critical juncture below $120,000. Key takeaways: June CPI data showed rising headline and core inflation, reducing expectations of an interest rate cut in July. Bitcoin must reclaim the $119,250–$120,700 zone to confirm bullish momentum and aim for fresh highs above $123,000. Read more
CleanSpark reached 50 EH/s in operational hashrate in June, increasing its total Bitcoin holdings to 12,608 BTC even with significant monthly sales. CleanSpark’s Bitcoin output has surged more than 50% year-over-year, despite the challenges posed by the post-halving environment for BTC miners. The company posted an operational hashrate of 50 EH/s in June from 20.4 EH/s a year earlier, representing a 145.1% jump in mining capacity. Last month, it mined 685 BTC worth $74.2 million at current prices, from 445 BTC mined in June 2024. EH/s stands for exa hash per second, a measurement of computational power. "The tireless efforts of our operations and technology teams resulted in the addition of over 10 EH/s of capacity across four states to achieve the ambitious target,” said in a statement Zach Bradford, CEO and president of CleanSpark. “This represents a 9.6% month-over-month increase.” Read more
Bitcoin adoption grew considerably in June, with 26 firms adding it to their balance sheets; meanwhile, Bitcoin’s hashrate fell 15%. This month, Bitcoin’s hashrate dropped 15% amid a summer heat wave that stressed the United States’ electricity grid. Crypto hacks and exploits have racked up record numbers, costing investors and platforms $150 million in June alone. Moreover, businesses have followed the example of vocal Bitcoin (BTC) proponent and Strategy executive chairman Michael Saylor by adding BTC to their balance sheets. According to industry tracking services, there are now 250 companies that have some form of Bitcoin treasury. Regulators in Asia are softening their stance on crypto, with new laws carving out crypto tax exemptions and permissions for stablecoin issuance in four different countries, including Hong Kong and South Korea. Read more
Pi2Day 2025 brings key user-friendly upgrades, from a new KYC sync button solving verification roadblocks to expanded wallet access and enhanced security features. Every year on June 28, Pi Network celebrates Pi2Day, a kind of mid-year check-in that builds on the original Pi Day (March 14). It’s supposed to be a clever nod to math (3.14 → 6.28), but it’s also become a key moment for the Pi community. Since 2023, the core team has used the day to showcase progress and rally users behind major initiatives. Read more
If Bitcoin continues to tumble this season, it will mark its fourth consecutive summer in the red, while TradFi aims to extend its winning streak to three. Bitcoin is facing a potential fourth straight summer loss if it ends the 2025 stretch in the red, while the S&P 500 will log its third straight seasonal rally if its winning streak continues. From 2020 to 2024, the S&P 500 logged eight positive July and August performances, while Bitcoin (BTC) had six. So, while their summer trends aren’t entirely decoupled, the divergence has become clear in June. Since 2020, Bitcoin has posted just one positive June, while the S&P 500 has seen only two negative ones over the same span. A closer look at the past few years shows that Bitcoin’s summer slumps have less to do with seasonal patterns and more to do with crypto-native shocks and economic trends, such as China’s mining ban, halving cycles and post-COVID inflation. Read more
Though concerns about the Trump family’s connections to World Liberty Financial’s stablecoin shadowed debate on the GENIUS Act, the bill is closer to passing the Senate. Lawmakers in the US Senate are scheduled to consider a vote on the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, after a majority chose to invoke cloture for the bill. According to a Thursday notice from Senate Democrats, the full chamber will vote on the GENIUS Act on Tuesday, June 17. The floor vote will follow senators proposing a variety of amendments to the bill, including one to address elected officials and their families potentially profiting through connections to the crypto industry. Read more
Metaplanet plans to own 100,000 Bitcoin by the end of 2026, James Wynn lost $25 million in a Bitcoin bet: Hodler’s Digest Metaplanet, also known as Japans Strategy, has updated its Bitcoin acquisition plans to acquiring 100,000 BTC by the end of 2026. Metaplanet on June 6 posted its new Bitcoin plan, increasing its previous target of 21,000 BTC. Our previous target to hold 21,000 BTC by the end of 2026 has now been dramatically revised upward. We now aim to hold 100,000 BTC by that time, Metaplanet CEO Simon Gerovich said in an announcement posted on X. Read more