🐳 A Big Bitcoin Bill; Whale Returns After 14 Years; Publics Keep Buying While ETFs Fear; BlackRock’s Fund Brings in the Cheers

🏢 Release W27’25 | 904,230 | Miners Tax Power-Up; 4‑Yr Dormant Whale Moves 80k BTC; ETFs Pull $602 M in a Day; Hashprice up to $58.5/PH/s but heatwave trouble some; another solo miner win; new deals?

The Paper News

Jul 10, 2025

Bitcoin on exchanges hits 7-year low at 15%; Hashprice hit $58.5/PH/s; Miners get 100% bonus depreciation through 2029 under the “Big Beautiful Bill”; Solo miner won $349K block against 1-in-375K odds
Greenridge oil spill raises safety concerns; NIP targets 60 BTC/month; Tether and Adecoagro mine with renewables; IMF blocks Pakistan’s mining plan; Hut 8 secures 310 MW in Ontario; Argo stock drops 60% after Growler deal; Riot mines 450 BTC in June, down 12% but earns more; American Bitcoin raises $220M and plans Nasdaq debut with Gryphon as ABTC; Irish Energy hits 50 EH/s, pivots to AI with $500M; MARA targets 75 EH/s despite June decline; CleanSpark to build 30 MW Tennessee site; U.S. heatwaves cut June output; public miners now control 20%+ hashrate as CleanSpark, Cango, IREN top 50 EH/s.
Metaplanet adds 1,005 BTC; Vanadi Coffee launches €1B Bitcoin plan; DDC secures $528M for BTC expansion; Figma holds $70M in ETFs, plans $30M USDC conversion; Belgravia Hartford holds 15.75 BTC; H100 Group boosts stack to 247.54 BTC; Blue Star raises £1.25M for SatoshiPay; Addentax to acquire 12,000 BTC via $1.3B deal; Mogo’s $50M reserve triggers 140% stock surge; Cartwright Pension sees rising BTC demand; Thai group eyes DV8 for BTC adoption; Strategy to post $13B BTC gains; UniCredit offers capital-protected BTC ETF; KBC to launch BTC and ETH trading; Deutsche Bank plans BTC custody in 2026; Erebor Bank launches for crypto and AI; Thiel and tech leaders plan Erebor bank; Breez SDK adds 12 Lightning apps; Wallet of Satoshi launches self-custody beta; Thesis buys Lolli for BTC rewards; Geyser launches $10K Nostr wallet grant.
Kazakhstan plans state BTC reserve; Germany’s Sparkassen to enable BTC trading by 2026; Senator Lummis pushes crypto tax reform; SEC enforces stricter ETP rules; House launches “Crypto Week” July 14; Supreme Court allows IRS BTC data access; Connecticut bans state crypto use; Arizona vetoes seized crypto fund bill; Sweden ramps up BTC seizures; SEC halts Grayscale ETF, likely awaiting new rules; Coinone wins BTC glitch case; Pomerantz sues over BTC disclosures; Detroit sues RealToken for neglect; NY man charged in $1.7M BTC laundering; Salinas urges public to buy BTC over real estate; Tom Lee cites ETFs and profit-taking for BTC stall; Sotheby’s accepts BTC for $4M meteorite; Russian insurers launch BTC-tied life policies.
Bitcoin investors hold $1.2T in unrealized gains; public firms outpace ETFs in Q2 BTC buys; 14-year-old whale moves 80K BTC; BlackRock’s IBIT pulls $102M in a day and now earns more than its S&P 500 fund; Bitcoin ETFs see $601.8M in inflows, highest since May.

For this week’s Hash & Cash Index, BTC price settles at $108,123, marking a 0.70% increase from last week, slightly outperforming the broader market. Market cap has adjusted to $2T , settling at $ 2.009 (0.80% WoW). Hashprice sit at $58.42 USD/PH/day, a 8.41% increase. The global hashrate is currently 899.94 EH/s, rises 10.18% from last week. The current epoch’s difficulty sits at 116.96T. We’re at block 992 of 2016 for this epoch. Rewards settles to 3.14 BTC per block. Fees in blocks settles to 0.50% showing a decrease of 46.24%. The average block time is 9 minutes and 20 seconds. Source: Hashrate Index, Mempool, ONMINE

🪄 Pool Power Tools 🎱

This week’s Pool reward index settles to 105.06%, a 18.59% increase from last week with 20 active pools chipping away 1059 blocks. The total miner reward over the last 144 blocks contracted to 452.10BTC, a 0.57% decrease from last week, the dollar valuation of this rewards settles at $48M (0.36% WoW). Average block fees are equal to 0.0146BTC/block, decreasing 50.34% Wow and estimated at $1581 per block. Transaction fee per Network transaction equate to 721.76 sats per transaction, costing around $0.78 per transaction on the Bitcoin network over the last 144 block. Source: Mempool, ONMINE

In this week’s 1008 block mining pool race, Foundry USA remains at the forefront, with a total reported hashrate of 268.21 EH/S, clinching 321 blocks. ANTPOOL continues to challenge, harvesting 188 blocks with 157.08 EH/S. F2Pool and ViaBTC are neck and neck in the hashrate hustle, grabbing 117 and 133 blocks, respectively. Luxor staying in the top ranks, with a hashrate of 37.60 EH/S and manages to secure 45 blocks over the last week. Source: Mempool, ONMINE.

💹 Hashprice hit $58.5/PH/s after the biggest difficulty drop since China’s 2021 mining ban.

🎰 A solo Bitcoin miner with just 2.3 PH/s defied 1-in-375K odds to win a $349K block reward.

Solo block successfully mined — Source: Mempool Space

🧰 Hard-Ware & Hosting Index ⚙

🚨 Oil spill at Greenridge’s Bitcoin mine sparks lake water safety concerns.

🎮 NIP Group expands into Bitcoin mining, targeting 60 BTC ($6.5M) monthly output.

🌱 Tether and Adecoagro partner to mine Bitcoin with surplus renewable energy.

🇵🇰 IMF blocks Pakistan’s Bitcoin mining plan over power subsidy concerns.

⚡ Hut 8 inks 5-year power deals in Ontario for 310 MW, boosting stable cash flow.

🟡 Argo’s stock fell 60% after unveiling a Bitcoin mining rescue deal with Growler Mining.

📉 Riot mined 450 BTC in June, down 12%, but earned more per coin and boosted power credits.

💰 American Bitcoin raised $220M to boost its self-mining Bitcoin hashrate.

🇺🇸 American Bitcoin and Gryphon filed an amended S-4 for their stock-for-stock merger, aiming to trade as “ABTC” on Nasdaq by Q3 2025.

⚡ Irish Energy hit 50 EH/s in Bitcoin mining and now pivots to AI data centers with a $500M boost.

📈 MARA aims to hit 75 EH/s by year-end with miner orders in place, despite a 25% drop in June Bitcoin production.

🏗️ CleanSpark gained approval to build a 30 MW Bitcoin mine in Tennessee.

🌞 June heatwaves forced U.S. Bitcoin miners to curtail power use, sharply reducing hashrates and production.

📊 After months of slow growth, U.S. public Bitcoin miners are surging, with CleanSpark, Cango, and IREN each topping 50 EH/s, while MARA targets 75 EH/s—together now controlling over 20% of the Bitcoin network hashrate.

Miners aren’t just scaling hashrate—IREN (+78%), Cipher (+67%), and others outpaced Bitcoin’s 2.5% June gain as top-performing mining stocks. Source: Trading View

🌟 If you are interested in hosting or purchasing ASICs please use this link to see how much more BTC you can mine and less USD to spend. Fill out this survey so we can beat the halving together or email info@onmine.io.

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🏦 Bitcoin Products 🔍

🇯🇵 Metaplanet adds 1,005 BTC, total now 13,350 under its aggressive Bitcoin plan.

🇪🇸 Vanadi Coffee adopts €1B Bitcoin plan to lead Spain in BTC holdings.

💰 DDC secured $528M to expand its corporate Bitcoin holdings.

🖊️ Figma holds $70M in Bitcoin ETFs and plans to convert $30M USDC into Bitcoin.

🏢 Belgravia Hartford now holds 15.75 BTC as part of its $5M Bitcoin treasury plan.

🇸🇪 H100 Group boosts its Bitcoin holdings to 247.54 BTC with a new 47.33 BTC purchase.

💷 Blue Star Capital raised £1.25M to expand SatoshiPay’s Bitcoin and crypto treasury.

💼 Addentax Group plans to buy up to 12,000 BTC in a $1.3B share-based deal.

🇨🇦 Mogo’s $50M Bitcoin reserve plan triggers 140% share surge.

💼 Cartwright Pension Trusts sees growing Bitcoin interest after 60% client return.

🇹🇭 Bitcoin-backed group aims to buy Thai-listed DV8 to push Bitcoin treasury adoption in Southeast Asia.

🇰🇿 Kazakhstan to launch state Bitcoin reserve, embracing sovereign crypto adoption.

🇩🇪 Germany’s Sparkassen-Finanzgruppe will let private customers trade Bitcoin by 2026 via DekaBank support.

🇮🇹 UniCredit offers Bitcoin ETF investment with full capital protection.

🇧🇪 KBC Bank to offer Bitcoin and Ether via Bolero, pending approval this year.

🇺🇸 Senator Lummis proposes crypto tax bill to end double taxation and clarify staking and mining rules.

📊 Strategy to post $13B Bitcoin gains in Q2 as software revenue lags at $113M.

📜 SEC sets strict disclosure rules for crypto ETPs to ease compliance and attract institutions.

🏦 Deutsche Bank to offer Bitcoin custody in 2026.

🇺🇸House to begin “Crypto Week” on July 14, tackling bills on stablecoins, crypto regulation, and banning a U.S. CBDC.

⚖️ Supreme Court rejects crypto privacy case, allowing IRS to access Bitcoin user data without a warrant.

The Bitcoin Treasury Index for this week steady reflecting a stable grip on holdings, with 83 companies increasing their trove to precisely 3,056,975.27 BTC. Government also join the bitcoin standard with 7 countries holding 527,259.0 BTC. The value locked in these treasuries for Companies and Government tells a different story swelling to a robust $335.17B and $57.81B, respectively. A total of 14.557% all Bitcoins are held in corporate treasuries, while government holds 2.511 % of all Bitcoins, reinforcing the sentiment of a consolidating market among institutional & Government participants. Source: NewHedge, ONMINE.

🚫 Arizona governor blocks bill to create a state fund from seized crypto assets.

🇸🇪 Sweden orders more crypto and bitcoin seizures under tough new forfeiture laws targeting illicit assets.

🛑 SEC halts Grayscale’s crypto ETF launch, likely pending a broader approval framework.

🏦 Tech leaders launch Erebor Bank to serve Bitcoin, crypto, and AI startups.

⚖️ Coinone wins court case; users must return BTC withdrawn due to network delay glitch.

🏦 Peter Thiel and tech billionaires plan Erebor, a new bank for crypto and AI startups shut out by traditional finance.

⚡ Breez SDK added 12 new apps to the Bitcoin Lightning Network in Q2.

👛 Wallet of Satoshi teams with Spark to launch a self-custodial Bitcoin Lightning wallet beta.

💸 Thesis* buys Lolli to boost Bitcoin rewards, improve user experience, and expand worldwide.

🧠 Geyser launches $10K grant to support Bitcoin apps using Nostr Wallet Connect.

⚖️ Pomerantz sues Strategy over alleged misleading Bitcoin investment disclosures.

🏚️ Detroit sues crypto real estate platform RealToken for neglecting properties while promising high returns.

🕵️‍♂️ NY man charged with laundering $1.7M in fake checks and scams into Bitcoin, says FBI.

🏠 Billionaire Ricardo Salinas says sell your home and buy Bitcoin as fiat collapses.

📉 Tom Lee says ETF structure and profit-taking for Bitcoin stalling below $100K.

🪐 Sotheby’s will accept Bitcoin to auction a $4M Martian meteorite.

🇷🇺 Russian insurers launch life policies tied to Bitcoin with capital protection.

🎬 End Notes 🎤

💸 100% Bonus Depreciation Is Back — Big Tax Win for Bitcoin Miners

The “One Big Beautiful Bill” is now law — signed on July 4 — reinstating 100% bonus depreciation through 2029.

What this means for miners:

✅ Full Same-Year Write-Offs – Deduct 100% of ASIC purchases in the year of purchase

📉 $0 Federal Taxable Income – Offset mining revenue instantly with depreciation

⚡ Immediate Cash Flow – Start earning while cutting your tax bill

📈 Accelerated Scaling – Reinvest savings into faster growth

🏠 No Long Depreciation Schedules – Unlike real estate’s 27.5-year timeline

A major edge for miners looking to maximize returns and expand strategically.

🏛️ Connecticut bans state use of crypto and creation of a digital asset reserve, effective October 1.

Draft of House Bill 7082 as of June 30. Source: Legiscan

💰 Bitcoin investors are sitting on $1.2T in unrealized gains, with HODLing still dominant despite near-record prices, says Glassnode.

🏢 Public companies have bought more Bitcoin than ETFs for a third quarter in a row.

Public companies boosted Bitcoin holdings by 18% in Q2, while ETFs rose 8%, adding 131,000 and 111,000 BTC respectively. Source: Bitcoin Treasuries (Data as of June 28, 2025)

Source: Bitcoin Treasuries (Data as of June 28, 2025)

🐋 A 14-year-old whale moved 80K BTC ($8.6B), the largest shift of decade-old coins ever.

💰 Bitcoin ETFs saw $601.8M in inflows—the highest since May—led by BlackRock and Fidelity amid rising optimism over Trump’s tax bill.

Bitcoin ETFs notched $601.8M in inflows on Thursday. Source: Farside Investors

📉 Less than 15% of Bitcoin remains on exchanges—a 7-year low—signaling a looming supply shock as ETF demand and long-term holding surge.

🤑 Top Tea 🫖

The Nakamoto Strategy: Seeding Bitcoin Treasury Companies in Every Capital Market - Bitcoin Magazine
Bitcoin Treasury Companies Are Bubbles - Bitcoin Magazine
Russia’s Putin reasons crypto mining ban amid power shortages and rising electricity rates - Cryptopolitan
Bitcoin miner production falls in June on power curtailment, weather - Cointelegraph
Bitcoin mining stocks post double-digit gains in weekly rally - Cointelegraph
Bitcoin loses $108K as 14-year-old BTC sparks Satoshi rumors - Cointelegraph
Ripple applies for US banking license, joining crypto rush for legitimacy - Cointelegraph
Bitcoin Network Hashrate Declined in June as Miners Reacted to Recent Heatwave: JPMorgan - Coindesk
Bitcoin Long-Term Holders Signal Patience in Market - Coindesk
Circle applies for national trust charter - Yahoo Finance
Binance's CZ Reaffirms His $1,000,000 Bitcoin Prediction, But Here’s Catch - Utoday
Bitcoin ETFs Bounce Back With $408 Million Inflow - Bitcoin News
Bitcoin Treads Water on Independence Day - Bitcoin News
US and EU Talks Signal Acceleration Toward Global Crypto Policy Alignment - Bitcoin News
White House Insider Reveals Crypto Bill Timeline: ‘July Will Be a Big Month’ - Bitcoin News
Robinhood Announces New Layer 2 Blockchain - Bitcoin News
Samson Mow Warns Bitcoin Treasury Companies May 'Fold' in a Drawdown - Bitcoin News
Bitcoin Tax Exemptions May Be Coming After All—In New Senate Bill - Decrypt
Bitcoin Headed for 'Best Ever' Second Half of the Year: Standard Chartered - Decrypt
Trump family saw $620 million from crypto venture proceeds in recent months: report - The Block
IREN purchases 4,300 Blackwell NVIDIA GPUs for $130 million - Blockspace
ASIC Market Update, Hut 8 / American Bitcoin Business Updates, Tether’s New Mining Venture, 50 EH/s Club - The Mining Pod
Michael Saylor Wants You to Go Into Debt to Buy Bitcoin (Plus, BTC Mortgages) - The Mining Pod
Bigger bitcoin HODL: Time for 10% to 40% of portfolio in crypto, says financial advisor Ric Edelman - CNBC
Biggest Crypto Theft Ever May Have Just Happened - UToday
Dormant Bitcoin holder moves $2 billion BTC from 2011 for potential 14,000,000% gain - CryptoSlate
Many Companies Copying Michael Saylor’s BTC Playbook Risk ‘Death Spiral’: Report - The Defiant
SEC approves Grayscale Index ETF conversion, clears Solana, XRP, Cardano for spot trading - CryptoSlate
Trader Issues Bitcoin Warning, Says Only ‘Small Sliver’ of Time Left in Bull Market – Here’s His Timeline - The Daily Hold