🧊 BTC Fees Vanish, ASIC Makers Panic, and States Start Stacking—Is Bitcoin Entering a Quiet Revolution?

🌐 Release W25’25 | 902,210 | Fees Slide, Lightning Lights Up, and Miners Struggle—1% Fees, 45% Lightning Node with Big Tech, AgriFORCE push Gas Mines, Norway No New Datacenters, Antalpha $1.19 Bs BTC

👀 TLDR 🪟

• ​​BTC fees fell below 1% of block rewards in June, lowest since Jan 2022; Amazon and Google now host 45% of Lightning nodes; 

• France rejects surplus energy study for BTC mining; only 30% of Russian miners comply with laws, tougher penalties coming; Norway to ban new crypto mines in fall 2025; HIVE hits 11.4 EH/s in Paraguay, aims for 25 EH/s by Thanksgiving; AgriFORCE starts gas-powered mining in Alberta, targets 1 EH/s by 2026; Antalpha hits $1.19B in BTC-backed loans, revenue up 41%; Blockstream CEO lends $15M to H100 for BTC treasury; Riot sells 15M Bitfarms shares at 59% loss; Bitdeer raises $330M to grow ASICs and datacenters; MARA sources 50% of rigs from US firm Auradine; Bitmain, MicroBT, and Canaan to start US production to dodge tariffs.

• K33 to raise $8.9M to buy 1,000 BTC; Parataxis invests ₩25B in a Korean biotech to become a BTC treasury; The Blockchain Group buys $20M more BTC, now holds 1,653 BTC; Fold secures $250M to expand its BTC treasury; DDC raising $528M for NYSE-listed BTC treasury; BitMine buys 154 BTC with $16.3M from stock offering; Smarter Web raises £29.3M, now holds 242 BTC; Universal Digital launches BTC treasury strategy with Japan’s GFA; Strategy buys 10,100 BTC for $1.05B, now holds 592,100 BTC; Prenetics buys $20M in BTC; Nakamoto raises $51.5M to grow BTC exposure; KindlyMD raises $51.5M to expand treasury post-merger; LQWD adds 5 BTC, now holds 166 BTC; El Salvador adds 8 BTC, total now 6,214 BTC; Semler Scientific plans to grow holdings to 105,000 BTC; Ricardo Salinas increases BTC holdings.

• Spokane bans crypto ATMs, 60-day removal deadline; Jordan to jail unlicensed crypto users in 90 days; Ohio passes bill with $200 crypto tax break, heads to Senate; Coinbase gets MiCA license for EU-wide crypto services; South Korea plans spot BTC ETFs by late 2025; Sberbank issues Russia’s first BTC-backed bonds; BBVA suggests wealthy clients allocate up to 7% to crypto; Arab Bank Switzerland launches BTC yield product; BitBox releases new BTC wallet with iOS & EAL6+ chip; Sorted Wallet adds Lightning support to feature phones; Project Eleven raises $6M for quantum-safe Bitcoin tools; Kraken launches BTC staking with Babylon; Relai and Casa offer secure multisig with inheritance; Fidelity says $360B in old BTC now outweighs new supply.

• SEC begins review of Truth Social ETF; 3.4M BTC now held for 10+ years, says Fidelity; 300 BTC moved after 11 years by a whale; BlackRock ETF nears $70B, owning 3.25% of BTC; US ETFs control 6.12% of supply; Arizona and Texas advance Bitcoin reserve bills; Metaplanet buys $117M in BTC, now holds 10,000 BTC—surpassing Coinbase to become the 9th-largest public holder.

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✨ Hash & Cash Index 🚀

For this week’s Hash & Cash Index, BTC price settles at $103,467, marking a 1.46% decrease from last week, slightly underperforming the broader market. Market cap has adjusted to $1T , settling at $ 1.932 (-1.39% WoW). Hashprice sit at $51.90 USD/PH/day, a 1.85% decrease. The global hashrate is currently 876.12 EH/s, dips 7.24% from last week. The current epoch’s difficulty remains at 126.41T. We’re at block 1059 of 2016 for this epoch. Rewards settles to 3.15 BTC per block. Fees in blocks settles to 0.89% showing an decrease of 32.06%. The average block time is 10 minutes and 21 seconds. Source: Hashrate Index, Mempool, ONMINE.

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🪄 Pool Power Tools 🎱

This week’s Pool reward index settles to 96.53%, a 5.99% decrease from last week with 18 active pools chipping away 973 blocks. The total miner reward over the last 144 blocks contracted to 454.01BTC, a 0.18% decrease from last week, the dollar valuation of this rewards settles at $47M (-1.71% WoW). Average block fees are equal to 0.0279BTC/block, decreasing 30.07% Wow and estimated at $2887 per block. Transaction fee per Network transaction equate to 1.21k sats per transaction, costing around $1.25 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 265.93 EH/S, clinching 296 blocks. ANTPOOL continues to challenge, harvesting 213 blocks with 191.36 EH/S. F2Pool and ViaBTC are neck and neck in the hashrate hustle, grabbing 84 and 100 blocks, respectively. Luxor staying in the top ranks, with a hashrate of 32.34 EH/S and manages to secure 36 blocks over the last week. Source: Mempool, ONMINE...

💸 Bitcoin transaction fees drop below 1% of block rewards in June, hitting a low not seen since Jan 2022 and squeezing miner profits.

Bitcoin transaction fees made up just 1.05% of block rewards in June, down from 1.3% in May and 10.25% a year ago. 

⚡ Amazon and Google host 45% of Lightning nodes, boosting hopes for Bitcoin payments on major platforms.

Source: Mempool

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🧰 Hard-Ware & Hosting Index ⚙

🇫🇷 France rejected a proposal to study using surplus energy for Bitcoin mining due to procedural issues.

🇷🇺 Just 30% of Bitcoin miners in Russia comply with new laws, with tougher fines under review.

🇳🇴 Norway to temporarily ban new Bitcoin and crypto mining centers in fall 2025 to conserve energy.

⛏️ HIVE has surpassed 11.4 EH/s after completing Phase 1 of its Paraguay site ahead of schedule and aims to hit 25 EH/s by Thanksgiving.

🇨🇦 AgriFORCE starts gas-powered Bitcoin mining in Alberta, aims for 1 EH/s by 2026.

💰 Antalpha reported record Q1 growth, with Bitcoin-backed loans hitting $1.19B and revenue up 41% year-over-year.

🇸🇪 Blockstream CEO lends $15M to H100 for its Bitcoin treasury push.

📉 Riot sold 15M Bitfarms shares for $14M, cutting its stake to 13.4% at a 59% loss.

💼 Bitdeer raises $330M in bonds to boost ASIC and datacenter growth.

🇺🇸 MARA sources 50% of its 2025 Bitcoin mining rigs from U.S.-based Auradine as tariff concerns grow.

🇨🇳 Chinese ASIC giants Bitmain, MicroBT, and Canaan to start US production to counter Trump’s tariffs and avoid supply disruptions.

Source: Cambridge Digital Mining Industry Report

🌟 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 🔍

🇳🇴 K33 is raising $8.9M to buy up to 1,000 BTC for its treasury.

🇰🇷Parataxis invests ₩25B ($18M) in a Korean biotech firm to turn it into a Bitcoin treasury platform.

🇫🇷 The Blockchain Group buys $20M more BTC, now holds 1,653 BTC with a 1,173% yield in 2025.

💰 Fold secures $250M equity facility to expand its Bitcoin treasury holdings.

💵  DDC Enterprise is raising up to $528 million to grow one of the largest corporate Bitcoin treasuries on the NYSE.

🪙 BitMine used $16.3M from its stock offering to buy 154.167 BTC, officially launching its Bitcoin treasury.

💷 Smarter Web raised £29.3M to expand its Bitcoin treasury, now holding 242 BTC.

🍁 Canada’s Universal Digital launched a Bitcoin treasury strategy and partnered with Japan’s GFA to promote Bitcoin reserve models in Asia.

📈 Strategy buys 10,100 BTC for $1.05B, raising its total to 592,100 BTC

🏥 Prenetics buys $20M in BTC to kick off its Bitcoin treasury strategy.

💸 Nakamoto Holdings raised $51.5M through a private equity deal to grow its Bitcoin treasury and expand BTC exposure to global markets.

💰 KindlyMD raised $51.5M to support its merger with Nakamoto and expand its Bitcoin treasury.

📈 LQWD adds 5 BTC, raising holdings to 166 BTC as part of its long-term Lightning Network strategy.

🇸🇻 El Salvador has added 8 more BTC to its national treasury, bringing its total Bitcoin holdings to 6,214 BTC.

🚀 Semler Scientific appointed Joe Burnett as Director of Bitcoin Strategy and plans to grow its BTC holdings to 105,000 by 2027.

 🇲🇽 Mexico’s 3rd-richest man, Ricardo Salinas, boosts his Bitcoin holdings, calling it “the future.”

🚫 Spokane bans crypto ATMs over scam concerns, giving 60 days for removal.

🇯🇴 Jordan to jail unlicensed crypto operators under new law starting in 90 days.

🏛️ Ohio House passes bill granting $200 capital gains tax exemption and legal protections for crypto users and miners, now heading to the Senate.

🇪🇺 Coinbase secured a MiCA license in Luxembourg, allowing it to offer crypto services across 30 European Economic Area countries.

The Bitcoin Treasury Index for this week steady reflecting a stable grip on holdings, with 82 companies increasing their trove to precisely 3,019,659.75 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 $311.89B and $54.46B, respectively. A total of 14.379% 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.

🇰🇷 South Korea’s FSC plans to launch spot Bitcoin ETFs by late 2025 to meet growing institutional demand.

🇷🇺 Sberbank becomes the first in Russia to issue Bitcoin-backed bonds, marking a major step in crypto adoption.

🇪🇸 BBVA suggests wealthy clients put up to 7% of their portfolios into crypto.

🏦 Arab Bank Switzerland partners with XBTO to offer its first Bitcoin yield product for wealthy clients.

🔐 BitBox launched the BitBox02 Nova, a new Bitcoin hardware wallet with iOS support, secure Bluetooth isolation, and EAL6+ certified chip for enhanced self-custody.

⚡ Sorted Wallet adds Lightning support to feature phones using Breez SDK, boosting Bitcoin access.

🛡️Project Eleven secured $6M to develop quantum-resistant tools like Yellowpages for safeguarding Bitcoin.

🪙 Kraken has launched Bitcoin staking by partnering with Babylon, a native Bitcoin staking protocol.

🔐 Relai and Casa team up to offer secure multisig Bitcoin storage with inheritance support.

💤 Fidelity: $360B in decade-old Bitcoin now outpaces new supply, boosting long-term holder influence.

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🎬 End Notes 🎤

🇺🇸 The SEC has begun reviewing NYSE Arca’s proposal to list the Truth Social Bitcoin ETF, with Yorkville as sponsor and Foris DAX as custodian.

Source: SEC

📈 Fidelity reports that over 3.4M BTC—17% of supply—now qualify as “ancient” (10+ years old), with this long-term held supply growing faster than new issuance since the 2024 halving.

🐋 A whale sold 300 BTC after 11 years as bullish signals hint at a potential Bitcoin breakout.

🏦 BlackRock’s spot Bitcoin ETF nears $70B in assets, now holding over 3.25% of all BTC and dominating over half the US ETF market share.

BlackRock’s IBIT ETF commands 54.7% of the U.S. spot Bitcoin ETF market, which collectively holds 6.12% of Bitcoin’s total supply, per Dune data.

🏛️ Arizona's Senate has revived and passed a Bitcoin reserve bill (HB2324) to manage seized digital assets, now awaiting a final House vote.

Source: Bitcoin Laws

🛡️ Texas passes HB4488 to protect its proposed Bitcoin reserve from 2025 shutdowns, as SB21 still awaits the governor’s decision.

A companion bill to the SBR aims to safeguard its funds from being diverted to other uses. Source: pete_rizzo

🇯🇵 Metaplanet now holds 10,000 BTC after a $117M buy, surpassing Coinbase to become the 9th-largest public Bitcoin holder.

Source: Bitcointreasuries.net

📊 The top 100 companies collectively hold over 830,000 BTC in their treasuries as of June 16.

Source: @HOLD15Capital

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🤑 Top Tea 🫖

• Michael Saylor and Pakistan’s Crypto Minister Bilal Talk Bitcoin and Global Investment - Bitcoin Magazine

• President Donald Trump: America Will Show The World How To Win With Digital Assets Like Never Before - Bitcoin Magazine

• What Happens to Bitcoin When Quantum Computers Arrive? - Bitcoin Magazine

• Companies Using Debt to Buy BTC Could ‘Hurt Bitcoin’: Anthony Scaramucci - Decrypt

• Bitcoin ATM: The best BTC business you’ve never heard of - Blockspace

• What Bitcoin Miners Get Wrong About Oil And Gas w/ Sean McDonough - The Mining Pod

• Antalpha’s Q1, Public Miners Hit 1/3rd of BTC’s Hashrate, Summer Curtailment is Coming - The Mining Pod

• The Great Bitcoin Treasury Bubble - The Mining Pod

• Michael Saylor Issues Matrix Bitcoin Tweet As BTC Crashes From $106,000 - UToday

• Capital Group Becomes Metaplanet’s Second Largest Shareholder - Coincu

• Bitcoin Investments in Japan Surge as Firms Hedge Against Yen Weakness - Beincrypto

• BlackRock buys $1.4B Bitcoin over six-day streak amid ETF boom - Crypto News

• How Ross Ulbricht could’ve been the richest Bitcoiner on Earth - Blockworks

• Companies Using Debt to Buy BTC Could ‘Hurt Bitcoin’: Anthony Scaramucci - Decrypt

• Czech gov’t no-confidence vote as PM denies bitcoin cover-up - Protos

• Bitcoin Miner Price Targets Raised to Reflect Improved Industry Economics: JPMorgan - Coindesk

• Bitwise CEO says Bitcoin’s true rival is US Treasuries, not gold - CryptoSlate

• Semler’s $11B Bitcoin bet. Can the tiny med-tech firm become the next Strategy? - CryptoSlate

• Bank Of America Compares Bitcoin to The Creation Of The Internet - Watcher Guru

• ZachXBT slams Bitcoin bridge Garden Finance for laundering hacked funds - Cointelegraph

• The quiet ascent of at-home Bitcoin mining — Interview with Canaan - Cointelegraph

• $330K Bitcoin block win: How one solo miner outsmarted the odds - Cointelegraph

• Bitcoiners split on $94K or $114K for BTC’s next move as it trades sideways - Cointelegraph

• Mega breach of 16B passwords raises crypto security fears - Cointelegraph

• Bitget secures Georgia license as part of Europe expansion - Cointelegraph

• Bitcoin Surpasses $100,000 for Over 40 Days, Hits New Uptime Milestone - Bitcoin News

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💉 Dopamine Hit 🕺🏻