Bitcoin Hashrate Declines Amid Rising Corporate Adoption
In June, Bitcoin’s hashrate fell by 15%, primarily due to increased electricity costs during a U.S. heat wave that strained power grids. Despite this challenge, Bitcoin adoption grew significantly as 26 companies added BTC to their corporate balance sheets. This brings the total number of businesses holding Bitcoin to 250, demonstrating continued institutional interest.
Security Challenges and Regulatory Progress
The crypto sector faced security issues in June, with hacks and exploits causing $150 million in losses. Meanwhile, Asian markets showed regulatory advancement. Hong Kong, South Korea, Thailand, and Malaysia implemented crypto-friendly measures including tax exemptions and stablecoin frameworks. In the U.S., seven states moved forward with cryptocurrency legislation.
Global Expansion Through Licensing
Five major cryptocurrency platforms received operational licenses across different regions. Coinbase, Gemini, and Kraken secured approvals under Europe’s MiCA regulations, expanding their service areas. These developments highlight the growing importance of regulatory compliance in the crypto industry’s global expansion.
Key Developments
- Bitcoin’s computational power decreased by 15% due to energy market fluctuations
- Corporate Bitcoin holdings reached 250 companies after 26 new additions
- $150 million lost to crypto security breaches in June
- Four Asian jurisdictions enacted progressive crypto policies
- Major exchanges obtained new international operating licenses
