Crypto Mining Sees Major Shifts in June
June saw BTBT move to Ethereum, Bhutan’s BTC hit 40% of GDP, and mining giants open U.S. factories.
- BTBT shifts focus from Bitcoin to Ethereum staking
- Bhutan’s Bitcoin holdings now equal 40% of its GDP
- Top mining rig makers set up manufacturing in the U.S.
June was a pivotal month in crypto mining news, with several major developments shaping the industry’s global landscape. One of the standout changes came from Bit Digital (BTBT), a well-known Bitcoin mining firm that announced a strategic pivot towards Ethereum staking. This shift indicates growing interest in Proof-of-Stake (PoS) protocols amid increasing scrutiny and regulatory pressure on Proof-of-Work (PoW) systems.
BTBT’s move suggests a broader trend among mining companies looking to diversify revenue streams and reduce dependence on traditional Bitcoin mining. With Ethereum staking offering more energy efficiency and potentially stable returns, the transition marks a significant evolution in mining business models.
Bhutan’s Bitcoin Bet Reaches New Heights
Another surprising headline came from Bhutan, where the nation’s Bitcoin reserves have soared to represent 40% of the country’s GDP. This revelation underscores Bhutan’s quiet but aggressive involvement in the crypto economy. The small Himalayan kingdom has been mining Bitcoin using its abundant hydroelectric resources—allowing it to engage in crypto without relying on fossil fuels.
This bold strategy not only strengthens Bhutan’s fiscal independence but also highlights how smaller nations can leverage crypto assets to boost economic resilience.
U.S. Becomes Mining Hardware Hub
In a major industrial shift, all three major crypto mining rig manufacturers—Bitmain, MicroBT, and Canaan—have established factories in the United States. This move is a direct response to ongoing geopolitical tensions, tariffs, and the need for localized supply chains in North America.
By manufacturing domestically, these companies aim to better serve U.S.-based mining operations, which have grown significantly since China’s crypto crackdown in 2021. It also signals the U.S.’s rising dominance as a crypto mining powerhouse.
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