Bitcoin Hashrate Falls While BTC Treasuries Grow: June In Charts

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.

In the US, legislation moved forward on the state level, with 10 states working on laws to include crypto in their commercial code, establish Bitcoin reserves and further study how crypto could affect their state’s economy.

Here’s June by the numbers:

Bitcoin’s hashrate is down 15% in June

The hashrate of the Bitcoin network, the measure of the total computational power on the Bitcoin blockchain, saw a significant dip of 15% on the month. 

Starting the month around 942.6 million terahashes/second (TH/s), the current rate is 799 million TH/s. The sharp drop left observers speculating about the possible reasons behind the decrease, which was the steepest drop Bitcoin’s hashrate has seen in three years.

While some speculated that the possible reason could be Israel’s attacks on Iran, which have targeted critical infrastructure, including those Iran could use to mine Bitcoin, the connection is weak.

The hashrate was already in decline, and the US, which has significantly more mining activity, has been experiencing electricity price spikes due to its first summer heat wave. Increased demand for cooling will see prices increase and spare capacity disappear, which could lead miners operating on thin margins to flip the switch on their operations till things cool down. 

The cost of crypto hacks grew $150 million in June 

Crypto hacks are getting more advanced, and in June, $150 million was lost to hacks and exploits. 

Losses in June bring the total amount of crypto lost in hacks and exploits this year up to $2.15 billion, according to a report by TRM Labs — $500 million higher than the same time frame for 2024.

According to TRM, infrastructure attacks, including “private key and seed phrase thefts, and front-end compromise,” made up 80% of the losses in 2025. 

Correspondingly, protocol attacks — i.e., attacks that “target vulnerabilities in a blockchain protocol’s smart contracts or core logic,” including flash loan and reentrancy attacks — made up just 12% of losses. 

TRM drew special attention to “escalating strategic intent from state actors and other geopolitically motivated groups,” which it states requires more collaboration and the need to “reinforce fundamental security — multifactor authentication (MFA), cold storage, and frequent audits.” 

250 businesses are holding BTC on their balance sheets

A growing number of companies are adding Bitcoin to their balance sheets after seeing the success of software company Strategy. Some 26 companies added the asset to their balance sheet, bringing the total number of companies with Bitcoin in their treasuries up to 250.

Michael Saylor pioneered the idea of putting Bitcoin on a company’s balance sheet. Strategy’s stock has since evolved into a proxy instrument for investors to get exposure to Bitcoin.

Related: Michael Saylor’s Strategy has 91% chance of joining S&P 500 in Q2: Analyst

Saylor’s tactic of issuing debt to fund these Bitcoin purchases has gained ground; Strategy’s company’s stock price, despite increased issuances, has continued to grow. In June, MSTR gained 6%.

Not all observers are convinced of the strategy. A June report from venture capital (VC) firm Breed stated that few Bitcoin treasury companies will last. The firm posited a seven-step cycle, triggered by a hypothetical Bitcoin price crash and culminating in BTC liquidations and market panic.

Four countries across Asia make carve-outs for crypto

Four different jurisdictions across Asia made crypto-friendly policy changes in June. In Thailand, the Cabinet — the primary organ of the executive branch of the government — approved a proposal from the Ministry of Finance to exempt crypto from capital gains tax until Dec. 31, 2029. 

In South Korea, newly elected president Lee Jae-myung’s ruling Democratic Party proposed the Digital Asset Basic Act to fulfill a campaign promise to allow stablecoin issuance. The bill would allow companies with at least $368,000 in equity capital to issue stablecoins, as well as provide refund guarantees. 

On June 20, the governor of South Korea’s central bank said that he wasn’t opposed to the issuance of a won-based stablecoin, saying that “issuing won-based stablecoin could make it easier to exchange them with dollar stablecoin rather than working to reduce use of dollar stablecoin.”

Malaysia has launched a regulatory sandbox called the Digital Asset Innovation Hub, while in Hong Kong, securities regulators are working on a framework that would allow crypto derivatives trading for professional investors.

Five major crypto firms get licenses worldwide

Crypto adoption at the government level is growing, but this also means there are new and evolving licensing frameworks that crypto businesses like exchanges need to secure to stay in business and enter new markets. In June, five major crypto businesses secured licenses in different jurisdictions.

Coinbase, Gemini and Kraken all secured licenses in the EU under the Markets in Crypto-Assets (MiCA) regulatory framework. The certification will allow them to serve clients in European markets. 

Recent: Coinbase secures MiCA license, names Luxembourg as EU headquarters

Bitget secured a license in the Caucasian country of Georgia, while crypto payments-related firm MoonPay scored a BitLicense from New York state regulators in the US. 

Fintech firm Ant Group and e-commerce giant JD.com are looking for certifications related to stablecoins. Ant Group indicated it is currently seeking licenses in Hong Kong and Singapore, while JD.com founder Liu Qiangdong announced a broad global certification push to enter the stablecoin space. It is not yet clear if or where JD.com is seeking licensure.

Seven states pass crypto-related laws in the US

While the crypto industry was able to count a victory at the federal level this month, with the GENIUS Act passing the Senate on June 17, seven states have made headway on their own crypto-related lawmaking.

Oregon amended state laws about abandoned property to include cryptocurrencies. Colorado has done the same while also enacting a law that requires crypto ATM owners to disclose certain information to customers, as well as provide refunds in the case of fraud. 

Texas Governor Gregg Abbott signed the state’s Bitcoin reserve bill into law while enacting a law that requires crypto to be forfeited if it is related to misdemeanors or felony crimes. 

Louisiana has set up a licensing structure for crypto kiosk providers while also establishing a subcommittee to study blockchain, crypto and artificial intelligence. 

Connecticut has updated money transmission rules and requirements to include crypto, especially crypto kiosks, and has introduced licensing requirements for the same. Neighboring Rhode Island has also introduced standards for crypto ATMs, as well as created a special legislative commission to study blockchain and cryptocurrencies. 

Florida seems less eager to pass crypto kiosk rules. H0319, a bill requiring Bitcoin kiosks to register with the Office of Financial Regulation, died in committee. 

Magazine: North Korea crypto hackers tap ChatGPT, Malaysia road money siphoned: Asia Express