Select Bitcoin Miners Lead Hashrate Growth in June as Others Face Curtailments

Several public Bitcoin mining companies ramped up their realized hashrate in June, bucking a broader trend of production slowdowns amid summer power curtailments across the U.S.

According to disclosed production metrics, HIVE, Bitdeer, Iris Energy, and CleanSpark reported notable increases in realized hashrate compared to May, while peers like MARA, Core Scientific, and Cipher Mining saw declines.

HIVE achieved the largest month-over-month realized hashrate growth at 27.41%, reaching 10.8 EH/s. It was followed by Bitdeer with an 11.84% increase to 13.4 EH/s and Iris Energy, which grew 6.78% to 41 EH/s. CleanSpark, one of the largest public miners by deployed hashrate, posted a 6.59% increase to 45.3 EH/s.

These gains come despite a seasonally difficult period for mining operations. Summer months often prompt energy-intensive miners to curtail operations in order to avoid peak demand penalties or meet grid balancing obligations, especially in Texas. Companies like Cipher and MARA explicitly cited curtailments as a factor in reduced productivity.

Marathon, the largest public miner by self-mining capacity, recorded a significant 18.95% month-over-month drop in realized hashrate to 47.1 EH/s. Core Scientific also saw a 10.7% decline to 12.4 EH/s, and CIFR fell 3.48% to 10.6 EH/s.

Production numbers largely mirrored the hashrate changes. CleanSpark and Iris Energy produced 685 BTC and 620 BTC, respectively in June, among the highest in the sector. In contrast, Core Scientific produced just 187 BTC, and Cipher 155 BTC.

CleanSpark and IREN have both recently crossed the 50 EH/s milestone. Together with Cango and MARA, the four companies accounted for 18% of the total bitcoin mining production share in June and more than 20% of the network hashrate.