This week brought significant developments for Bitcoin mining companies, with strategic expansions, financial maneuvers, and operational shifts dominating the industry landscape. Below is a concise update on key players based on verified reports from the past seven days.
Cipher Mining
Cipher Mining has commenced Bitcoin production at its 300 MW Black Pearl data center in Texas, with Phase I currently operating at 150 MW and an initial hashrate of 2.5 EH/s. The company anticipates scaling to 9.6 EH/s by Q3 and projects a total self-mining capacity of 23.1 EH/s across its fleet, emphasizing low-cost operations amid post-halving competition.
Bitdeer
Bitdeer secured $330 million through convertible notes while increasing its self-mined Bitcoin production by 18.1% in May 2025. Strategically, the company paused 570 megawatts of Bitcoin mining expansion to redirect resources toward AI-driven growth initiatives. More details
Genesis Digital Assets
Genesis Digital Assets acquired 1,000 air-cooled miners from Auradine, featuring 260 TH/s hash rate and 16 J/TH energy efficiency. These units will be deployed at GDA’s 40 MW Texas data center, participating in ERCOT’s demand-response program to enhance grid stability.
Core Scientific
Core Scientific has halted its monthly Bitcoin hodl and hashrate disclosures, joining peers like Argo Blockchain and Hut 8 in reducing transparency amid declining fee revenue and operational pressures. The company continues publishing daily mined BTC figures via social media. Bitcoin cloud mining is altering traditional approaches, offering unique advantages and challenges.
Canaan
Canaan exited its AI semiconductor business to concentrate exclusively on Bitcoin mining, targeting a 15% reduction in operating expenses. The move accompanies halted financing efforts and new share buybacks to streamline operations.
Industry Trends
Bitcoin production costs rose over 9% in Q2 2025, intensifying margin pressures as transaction fees plummeted to 1.05% of miner revenue—the lowest since 2023. Public miners like Terawulf and Bitfarms also ceased monthly disclosures, reflecting broader financial headwinds and strategic pivots toward diversified revenue streams like AI hosting.
This week’s updates highlight a sector consolidating around scalable infrastructure, energy efficiency, and adaptive financial strategies to navigate evolving market dynamics. Additionally, understanding hashrate in cryptocurrency mining remains critical for miners aiming to optimize their operations.
