Institutional Adoption of Bitcoin Accelerates
After briefly dropping below $100,000 following its all-time high of nearly $112,000, Bitcoin flashed its trademark resilience by rebounding over $7,000. This swift recovery highlights both the asset’s volatility and the growing maturity of its investor base, especially institutional participants. Currently, 61 publicly listed companies globally hold approximately 673,897 BTC, which accounts for over 3% of Bitcoin’s total ultimate supply. Remarkably, these corporations doubled their Bitcoin reserves in just two months, with most accumulating at prices north of $90,000 per BTC. New entrants such as SolarBank from Canada and France’s Blockchain Group showcase expanding geographic and sectoral diversity. Given the reliance on public disclosure, the true number of institutional holders could be much higher, underscoring the ongoing narrative of Bitcoin as a strategic treasury asset.
Volatility and Strength in Hashrate and Mining Difficulty
Despite price corrections and sector shake-ups, the Bitcoin network’s hashrate continued to post new records in 2025. The hashrate, which represents the aggregate computational power securing the network, fluctuated sharply from 929 EH/s in April down to 817 EH/s, only to rebound strongly to 947 EH/s in late May. Notably, each correction has seen the network stabilize at a higher base, signaling deepening commitment from miners. In tandem, mining difficulty—which automatically adjusts to maintain consistent block times—saw a short 3.34% decrease after a hashrate dip but then rose again, with two consecutive jumps (2.13% and 4.38%) to a historic 126.98 trillion. While the average pace of increase for 2025 is a touch slower than 2024, the trendline remains upward, reflecting intense competition. The mid-June adjustment is anticipated to slightly ease conditions, offering a potential reprieve for miners.
On-Chain Activity Slows, But Miner Outlook Stays Upbeat
On-chain transaction activity has decelerated, with confirmed daily transactions slipping to 256,000—the lowest since October 2023. This decline comes despite earlier periods where transaction fees spiked, and now, fees remain subdued even as Bitcoin steadies above six figures. For miners, hashprice (the metric tracking daily revenue per petahash) dipped in line with the price pullback but has held above $50/PH/day. If the next difficulty adjustment proves favorable alongside stable Bitcoin prices, there’s optimism that hashprice could tick up toward $60/PH/day, improving profitability. In summary, the mining landscape is defined by surging institutional involvement, historic competition among miners, fluctuating yet ascending hashrate, and suppressed transaction volumes—all amid a hopeful outlook for miner earnings.
The full article from Digital Mining Solutions can be found here.
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