Weekly Bitcoin Mining Company Updates: June 23–30, 2025
Metaplanet
Metaplanet has purchased an additional 1,005 BTC, elevating it to the ranks of the top five corporate Bitcoin holders worldwide. This acquisition aligns with the company’s strategy of utilizing Bitcoin as a treasury reserve asset, driving its stock price up by 10% upon the announcement.
Bit Digital
Bit Digital has exited Bitcoin mining entirely, shifting its focus exclusively to Ethereum staking and treasury management. The company plans to divest its mining assets to reinvest capital into Ethereum-based revenue opportunities, reflecting a strategic pivot to leverage the expanding Ethereum ecosystem.
Bitdeer
Bitdeer successfully raised $330 million through a convertible note offering, which carries a 4.875% five-year yield and a 44% conversion premium. The infusion of capital is aimed at enhancing its mining operations and infrastructure amidst escalating energy costs.
Hut 8
Hut 8 has increased its Bitcoin-backed loan with Coinbase to $130 million, benefiting from a reduced interest rate of 9%. The additional funding is set to support hardware improvements and operational expansion.
Canaan
Canaan has decided to divest from its AI chip development division, with plans to redirect resources toward Bitcoin ASIC production. This strategic move is intended to fortify its position in a consolidating market focused on mining hardware innovation.
AgriFORCE
AgriFORCE has launched a new gas-powered Bitcoin mining facility in Alberta, utilizing stranded natural gas. The company aims to scale the site’s capacity to 1 EH/s by 2026, promoting efficient and sustainable energy practices. Learn more about renewable energy integration in mining.
Cipher Mining
Cipher Mining has begun production at its 300 MW Black Pearl data center, currently producing 2.5 EH/s. This development marks the commencement of Phase 1 operations, with plans to reach a total of 23 EH/s across all sites by the third quarter of 2025.
Hive Digital
Hive Digital has purchased a 7.2 MW Toronto site to establish its first liquid-cooled Tier 3 data center. This facility will support AI training and cloud workloads, diversifying Hive’s income streams beyond conventional cryptocurrency mining.
Sector Trends
Bitcoin mining profitability faces challenges due to rising energy prices, with production costs exceeding $70,000 per Bitcoin. Companies such as Iris Energy and Core Scientific have managed to outperform others by diversifying into AI hosting, whereas pure-play Bitcoin miners like Bitfarms are experiencing lag in stock performance. For those looking into the profitability of Bitcoin mining in 2025, understanding the current dynamics is essential.
