- June 2025 recorded a significant drop in Bitcoin mining operations especially from institutional players like Riot Platforms and MARA Holdings.
- Another pertinent reason for Bitcoin miners to reduce block mining production is to avoid high costs of production during peak hours in Texas. The extreme rise in temperature caused a high demand for electricity that triggered the grid operation to implement a curtailment program designed to handle situations like this.
- Both MARA Holdings and Riot Platforms joined the Electric Reliability Council of Texas’s (ERCOT) Four Coincident Peak (4CP) program that incentivizes users who reduce their electricity consumption especially during peak hours.
- According to a source, Riot Platforms saw a decline of 12% in Bitcoin mining operations and MARA by 25% in June.
The Bitcoin Rattle
Riot Platforms reported that they mined 459 Bitcoin in June. This reading is a whoping 12% decrease from May’s 514 BTC. CEO of Riot, Jason Les emphasized the company’s “economic curtailment” and voluntary participation in the Electric Reliability Council of Texas’s (ERCOT) Four Coincident Peak (4CP) program and other demand response initiatives.
Riot CEO This strategy, he noted,
“significantly contributes to grid stability while enhancing Riot’s competitive positioning.”
The 4CP program, which began in June, is designed to manage peak electricity demand during the summer months (June, July, August, and September) and imposes transmission charges on large consumers based on their usage during these critical periods.
Riot reportedly sold 397 BTC for $41.7 million in June, holding 19,273 BTC at month-end.
Institutions Are Making Smart Moves
Cipher Mining also saw its June production impacted by a deliberate “proactive 4CP avoidance strategy.” The company produced 160 BTC and sold 58 BTC, aiming to avoid costly penalties and maintain its low power costs.
While Cipher’s Black Pearl facility in Texas began contributing to production in late June, the overall monthly output was lower due to these strategic curtailments. As of the end of June, Cipher held 1,063 BTC.
Similarly, MARA Holdings experienced a significant 25% reduction in June’s production, mining 211 BTC compared to 282 BTC in May.
MARA CEO Fred Thiel attributed this decline to “reduced uptime from weather-related curtailment” and the temporary deployment of older machines at its Garden City, Texas, facility due to storm damage repairs.
Thiel also mentioned “natural variability in block luck” as a contributing factor. MARA did not sell any Bitcoin in June and held a total of 49,940 BTC as of June 30.
The Sparking Bitcoin Miner
Surprisingly, CleanSpark saw an impressive 6.7%increase in its BTC production in June, 2025. The company mined 445 BTC, surpassing its mid-year hashrate target of 20 exahashes per second (EH/s). CleanSpark sold only 8 BTC during the month, bringing its total holdings to 6,591 BTC by the end of June.
A hashrate number gives an indication of the required power to mine a bitcoin or a proof of work cryptocurrency.
Will The US Have Enough Power to Mine More Bitcoin?
At the 2024 Bitcoin Conference Nashville, Trump vowed that the United States of America would have so much electricity that the citizens would be overwhelmed. As the adoption and regulation of cryptocurrency sits atop the need to meet a viable solution to produce enough energy to mine Bitcoin will remain pertinent.