Bitcoin Magazine
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CleanSpark Announces Mining 685 Bitcoin Worth Over $74 Million In June
Today, CleanSpark, Inc. (Nasdaq: CLSK) announced it mined 685 bitcoin in June 2025, generating over $61 million in revenue from 578 BTC sold at an average price of $105,860. This surpassed the month’s volume weighted average price (VWAP) by $446.
Introducing $CLSK's June Bitcoin mining update as of June 30, 2025:
*Bitcoin produced in June: 685
*Operational hashrate: 50.0 EH/s
**First Bitcoin miner to achieve milestone entirely through fully self-operated infrastructure
**9.6% month-over-month increase
*Average… pic.twitter.com/cJsQ50rAcB— CleanSpark Inc. (@CleanSpark_Inc) July 7, 2025
“Our initial strategies went live, and we are seeing positive proof of concept results in our actively managed spot sales program and derivative overlay,” stated the CFO of CleanSpark Gary A. Vecchiarelli. “June resulted in an average sale price of $105,860 per bitcoin net of customary fees, which is $446 above VWAP for the same period, not including the premiums received from derivative transactions. While these strategies are still evolving, I’m proud of the institutional-grade discipline and performance our treasury team is already demonstrating.”
CleanSpark now operates 241,227 mining units and holds a bitcoin treasury of 12,608 BTC. This ranks the company seventh among all publicly traded companies worldwide in bitcoin holdings. Every bitcoin in its treasury has been mined internally.
“We achieved our mid-year target of reaching 50 EH/s of operational hashrate, becoming the first Bitcoin miner to do so entirely through fully self-operated infrastructure,” said the CEO and President of CleanSpark Zach Bradford. “This represents a 9.6% month-over-month increase which further improved our fleet’s energy efficiency to 16.15 J/Th.”
The company also announced that it has secured an additional 179 megawatts of power capacity. This will support more than 10 EH/s of future hashrate as part of CleanSpark’s continued infrastructure expansion across four states. Currently, the company utilizes 808 megawatts out of 987 megawatts under contract.
“Corporations around the globe are embracing the value of a Bitcoin-enhanced balance sheet,” Bradford added. “In fact, corporate Bitcoin acquisitions have outpaced ETF net inflows for the third consecutive quarter. At CleanSpark, we’ve been strategically positioned for this moment from the beginning. Rather than acquiring bitcoin on the open market, we invested in geographically diverse data center infrastructure backed by low-cost energy, enabling us to produce bitcoin at costs well below market price.”
“I want to express my gratitude to our team, especially our COO Scott Garrison and CTO Taylor Monnig, for their grit and leadership,” Bradford commented. “With the talent, infrastructure and power contracts in place, CleanSpark is well-positioned to continue scaling.”
This post CleanSpark Announces Mining 685 Bitcoin Worth Over $74 Million In June first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.
Crypto News Flash
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The International Monetary Fund (IMF) has reportedly rejected Pakistan’s proposal to utilize excess power to offer cheaper electricity to the crypto mining sector, despite the country’s surplus energy capacity. Pakistan’s Crypto Mining Proposal Faces Uncertainty On Thursday, news outlet Independent Urdu reported that the IMF has rejected Pakistan’s proposal to subsidize electricity to certain industries, including the crypto mining and artificial intelligence (AI) sectors. In a statement before the Senate Standing Committee on Energy, Secretary of Power Fakhar Alam Irfan explained that all major energy sector initiatives must be cleared with the international financial institution, adding that the IMF raised concerns despite Pakistan’s surplus energy capacity. In November 2024, the Power Division proposed a marginal cost tariff of PKR 22-23, or around $0.80, per kilowatt-hour for specific industries with significant energy consumption, including the copper and aluminum smelting sectors, data centers, and crypto miners. The Division alleged that it would increase power demand and reduce the potential surplus capacity. Earlier this year, the recently established Pakistan Crypto Council (PCC) proposed utilizing surplus energy to support crypto mining operations and AI data centers in regions where excess electricity capacity is largest. The bid, led by the CEO of the PCC and the finance minister’s advisor, Bilal Bin Saqib, aims to convert unused electricity into a productive resource. Nonetheless, the IMF questioned Pakistan’s plan a month ago, seeking urgent clarification from the finance minister on the power allocation. According to the Thursday report, Irfan stated that the IMF is wary of any pricing mechanism that could destabilize the market, lead to potential economic imbalances, and create “new complications in the already strained power sector.” The international financial institution reportedly argued that Pakistan’s energy plan resembles sector-specific tax breaks that have historically created market imbalances. Additionally, the Senate Standing Committee on Energy expressed discontent over the absence of the Federal Power Minister during the meeting. Multiple senators raised concerns about the “forced” load shedding in the Tharparkar, Matiari, and Umerkot areas, where daily shutdowns continue for up to 14 hours despite consumers paying their bills. A New Era For Digital Assets Irfan affirmed that the government has not withdrawn the proposal, despite the IMF’s negative, adding that it is currently in consultation with international institutions, including the World Bank and other development agencies, to improve it. This follows the country’s efforts to position itself as a crypto hub. In May, the PCC CEO announced the creation of a national Strategic Bitcoin Reserve using existing BTC held by the federal government. He also revealed the establishment of a national Bitcoin wallet to hold cryptocurrencies under the state’s custody, intended to reflect the country’s long-term commitment to the growing industry. Notably, Saqib has previously stated that the election of pro-crypto US President Donald Trump motivated the government to develop the blockchain and digital assets industry, which has been largely unregulated, despite its adoption rate. Pakistan is “done sitting on the sidelines,” he has affirmed, expressing his desire to make the country one of the leaders of blockchain-powered finance.
Bitcoin Magazine
Bitcoin Magazine
Bitcoin Miner Riot Produces 450 Bitcoin In June
Today, Riot Platforms, Inc. (NASDAQ: RIOT) reported the production of 450 Bitcoin in June 2025, a 12% decrease from May but a 76% increase year-over-year. The company also saw a surge in power credits, totalling $5.6 million, more than double from the previous month.
Riot Announces June 2025 Production and Operations Updates.
Riot mined 450 #bitcoin in June, increasing total bitcoin holdings to 19,273. The Company had a deployed hash rate of 35.5 EH/s and an all-in power cost of 3.4¢/kWh.
Read the full press release here:… pic.twitter.com/V6Y0D1A1pQ— Riot Platforms, Inc. (@RiotPlatforms) July 3, 2025
Riot sold 397 Bitcoin for $41.7 million, representing a 21% decrease in volume and a 19% decline in proceeds from May, but at a higher average price per coin ($105,071). The company ended the month holding 19,273 Bitcoin, more than double the amount held in June 2024.
The average operating hash rate decreased 5% month-over-month to 29.8 EH/s, but remains 162% higher than a year ago. Fleet efficiency held steady at 21.2 J/TH, an 18% improvement over the prior year.
“Riot mined 450 bitcoin in June, which also represented the start of ERCOT’s Four Coincident Peak (“4CP”) program,” stated the CEO of Riot, Jason Les. “Riot’s power strategy, which includes economic curtailment and voluntary participation in the 4CP and other demand response programs, significantly contributes to grid stability while enhancing Riot’s competitive positioning.”
June’s performance follows a similar April, in which Riot produced 463 Bitcoin, sold 475 Bitcoin for $38.8 million at an average price of $81,731, and completed a major acquisition. The company acquired all tangible assets of Rhodium at its Rockdale Facility, including 125 MW of power capacity.
“April was a significant month for Riot as we closed on the acquisition of all of the tangible assets of Rhodium at our Rockdale Facility, including 125 MW of power capacity, and mutually ended all outstanding litigation,” said Les. “This transaction ends the hosting agreement with our last hosting client and marks the complete exit of Riot from the bitcoin mining hosting business.”
This post Bitcoin Miner Riot Produces 450 Bitcoin In June first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.
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American Bitcoin, backed by Eric Trump, raises $220 million to expand its Bitcoin mining operations and bolster its BTC treasury. A subsidiary of Hut 8 Mining, the company aims to go public via a merger with Gryphon Digital Mining, trading as ABTC on Nasdaq. Since 2024, top-tier investors and hedge fund managers have been unable to ignore Bitcoin and the potential of some of the best cryptos to buy. Undoubtedly, BTC ▼-1.32% has been the top performer over the last decade, outpacing even some of the hottest stocks, including Palantir and Nvidia. BitcoinPriceMarket CapBTC$2.15T24h7d30d1yAll time Amid the crypto boom, Wall Street investors have quickly adjusted their positions, funneling billions into crypto-linked public companies like Coinbase (COIN), Circle (CIRCL), and Robinhood (HOOD). Millions of dollars are also flowing into publicly listed crypto mining platforms, including Hut 8 and Marathon Digital. EXPLORE: Top Solana Meme Coins to Buy in July 2025 American Bitcoin Raises $220 Million to Expand Operations and Bolster Reserves On June 30, American Bitcoin, a crypto mining and holding company backed by the Trump family, announced it had raised $220 million in a private stock sale. According to Eric Trump, the Chief Strategy Officer, $10 million worth of shares were purchased using Bitcoin at an average price of $104,000. The goal is to expand its Bitcoin mining operations and strengthen its Bitcoin Treasury. American Bitcoin is a subsidiary of Hut 8 Mining, a Bitcoin mining firm with operations in the United States. According to the latest data, Hut 8 Mining has an installed power capacity of 1,322 MW, generating over 7.5 EH/s of Bitcoin hash rate. In late 2023, it merged with US Bitcoin. By January 2025, Hut 8 held 10,096 BTC, of which 9,106 BTC were mined and 990 BTC were purchased. The company also held $110 million in cash. By March 2025, its holdings increased to 10,264 BTC. American Bitcoin plans to go public through an all-stock merger with Gryphon Digital Mining. The entity will trade on Nasdaq under the ticker ABTC. Existing shareholders, including the Trump brothers and Hut 8, will retain 98% ownership of the new company. These rapid developments come just four months after Hut 8 partnered with the Trump brothers to launch American Bitcoin. In the deal, Hut 8 contributed nearly all its Bitcoin ASICs to American Bitcoin in exchange for 80% of the company’s stock. It remains unclear whether the Trump brothers hold the remaining 20%. In a press release, Eric Trump said Bitcoin mining, based on “favorable economics, opens an even bigger opportunity.” “From the start, we’ve backed our conviction in Bitcoin; personally and through our businesses. However, simply buying Bitcoin is only half the story. Mining it with favorable economics opens an even bigger opportunity. We’re excited to bring investors into this equation through a platform engineered to execute on this thesis and deliver real, tangible participation in Bitcoin’s growth.” Explore: 9+ Best High-Risk, High–Reward Crypto to Buy in July 2025 Inspired by Strategy Evidently, American Bitcoin is following Strategy’s playbook. Formerly MicroStrategy, Strategy has been rapidly accumulating Bitcoin regardless of market conditions and plans to raise $2.5 billion to acquire more Bitcoin. The latest data shows that Strategy controls 597,325 BTC, making it the world’s largest public Bitcoin treasury company, holding over 10 times the stash of Mara Holdings and over 50 times that of Tesla. (Source) Beyond Bitcoin mining, the Trump family is deeply involved in crypto. According to Arkham data, their World Liberty Financial DeFi platform currently manages over $180 million worth of assets, primarily Ethereum (ETH). (Source) Donald and Melania Trump also launched some of the top Solana meme coins in January, though their prices have slumped, dropping by over 60% from all-time highs. Senator Elizabeth Warren argues that their involvement in crypto creates conflicts of interest, especially given the Trump administration’s pro-crypto stance. DISCOVER: 16 Next Crypto to Explode in 2025: Expert Cryptocurrency Predictions & Analysis American Bitcoin Raises $220M for BTC Mining Expansion
Bitcoin Magazine
Bitcoin Magazine
Bitcoin Mining Has Huge Role In Energy Production Expansion
The explosive growth of artificial intelligence, cloud computing, and digital finance has transformed electric industry operations. Forward-thinking miners and utilities can leverage these technological shifts to build generation capacity and create more resilient electrical grids.
DATA CENTER LANDSCAPE
Data centers locate where speed of energization, connectivity, and operational costs align favorably, but speed of energization remains a significant challenge. North American data center leasing vacancy rates are below 2% in 2024, down from over 10% in 2018. End-users now pre-lease capacity years in advance as new generation is slow to energize.
Unlike traditional load growth that materializes gradually over years, data centers demand immediate energy solutions. This creates a difficult position for some electric utilities with typical new generation planning—build when demand is reliably certain to arrive.
New electricity generation projects can require 2-7 years development time, while major data center deployment has compressed requirements of 18-24 months. Some utilities fund new generation ahead of need, but that typically leads to subsidizing projects until new load arrives, increasing costs for existing customers.
UNTAPPED OPPORTUNITIES
Many are already aware of bitcoin mining’s value proposition of demand management, excess energy conversion (flared gas, etc.) and remote energy resource access.
Demand Management: Mining operations can be curtailed during peak demand periods more easily than traditional loads, serving as valuable demand response resources necessary for grid balancing, particularly useful when variable generation resources are connected to the grid.
Wasted Energy Conversion: Companies take energy that would have otherwise been wasted—such as flared gas at oil production facilities—and convert it to electricity for bitcoin mining operations.
Stranded Asset Utilization: Similar to wasted energy conversion, mining operations can monetize remote generation resources that would otherwise be underutilized due to transmission constraints, internet connectivity, or economic conditions.
What I am writing about is an overlooked opportunity: Bitcoin mining’s unique load profile provides value through the ability to build new resources ahead of need, avoiding subsidization by existing customers, and allowing distributed transmission construction compatible with data center growth.
BUILD-AHEAD TO OVERCOME TIMING MISMATCHES
Strategic deployment of bitcoin mining as partners in new generation construction transforms build-ahead economics—mining operations create load from facility energization. When public utilities build new generation and partner with mining operations, they can create new revenue upon energization. This has multiple benefits:
Bitcoinist
On-chain data suggests the Bitcoin miners have recently been the most underpaid in around a year, as daily revenue hits a $34 million low. Bitcoin Miner Revenue Has Observed A Plummet According to data from the on-chain analytics firm CryptoQuant, the margins of the Bitcoin miners have recently taken a notable hit. Miners earn their revenue through two sources: block subsidy and transaction fees. The first component, the block subsidy, refers to the reward that these chain validators receive as compensation for adding a block to the chain. The network gives out this reward as a fixed BTC-denominated amount. Due to the existence of a feature known as the difficulty, miners are only able to add blocks at a more or less fixed rate of time, which adds another constraint to the block subsidy. If speed and amount are fixed, that leaves only one variable related to this reward: the Bitcoin spot price. Changes in the price directly affect miners’ income from the block subsidy. The other component of miner revenue, the transaction fees, is connected to the level of activity that BTC is observing. Investors attach these fees to their transfers as a small payment for the validators. In times when the network isn’t handling any notable traffic, senders have little incentive to pay any significant amounts, as chances are that their transfers will go through quickly anyway. When there is congestion present, however, transactions can get stuck in the mempool for a while. During such periods, investors who want their moves to go through fast have no choice but to outcompete the other users in transfer fees. As such, the total transaction fees being received by the miners tend to spike during times of high activity. Now, here is the chart shared by CryptoQuant that shows the trend in the two components of Bitcoin miner revenue over the past year: As displayed in the left graph, the combined daily revenue of the Bitcoin miners has recently gone through a plunge. “Falling fees and Bitcoin’s price drop are crushing margins,” notes the analytics firm. During the price low earlier, the metric reached a low of $34 million, which is the lowest that its value has been since April 10th. This comparison, however, doesn’t accurately portray how bad the current situation is for the miners. The chart on the right shows the data of the Miner Profit/Loss Sustainability, a model that compares the miners’ revenue against the difficulty to determine how fairly paid the group is. From the indicator’s trend, it’s apparent that the recent low in mining revenue corresponded to miners being the most underpaid since July 2024. BTC Price At the time of writing, Bitcoin is floating around $107,000, up over 2% in the last seven days.
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