This article is from Theminermag, a trade publication for the cryptocurrency mining industry, focusing on the latest news and research on institutional bitcoin mining companies.

Theminermag’s latest report takes a quick look at these key developments:

• Hashprice volatility: Bitcoin’s hashprice surged to a one-year high at $64/PH/s during the recent price rally but fell back after an 8% difficulty hike.
• Curtailments reshape the network: Heatwaves in the U.S. temporarily removed over 130 EH/s, creating notable fluctuations in companies’ realized hashrate.
• Rising concentration: The top four mining firms now account for nearly 20% of monthly block rewards—more than double their share in early 2022.
• Stock market divergence: While most mining stocks outperformed BTC over the past month, Bitdeer, Canaan, and Core Scientific lagged despite prior momentum.

Download the full report here to explore these trends in depth, including updated charts and hashrate leadership changes heading into the second half of 2025.

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