Bitcoin Mining Production Falls in June
Multiple Bitcoin mining companies reported lower production figures for June, largely due to power curtailments in Texas.
Riot Platforms announced it mined 450 BTC during the month, down 12% from May’s 514 BTC. CEO Jason Les explained that the company’s power strategy includes economic curtailment and participation in Texas’s Electric Reliability Council (ERCOT) demand response programs, including the Four Coincident Peak (4CP) initiative. He stated that this strategy supports grid stability while also strengthening Riot’s position in the market.
June marked the start of the 4CP program, which focuses on managing peak electricity demand from June through September. Under this framework, major power users like Bitcoin miners can reduce activity during peak times to avoid high transmission charges. Riot also disclosed selling 397 BTC for $41.7 million and holding a total of 19,273 BTC.
Cipher Mining reported producing 160 BTC in June, selling 58, and holding 1,063 BTC. The company attributed the lower output to deliberate curtailment aimed at avoiding 4CP penalties, a move it said helped maintain its low power cost status. Although Cipher’s new Black Pearl facility in Texas began contributing to production late in the month, overall output was impacted by the curtailment strategy.
MARA Holdings reported a 25% decline in June, mining 211 BTC compared to 282 in May. The firm held 49,940 BTC as of the end of the month and did not sell any. CEO Fred Thiel pointed to weather-related downtime, the temporary use of older machines, and natural variability in block rewards as contributing factors.
CleanSpark was the outlier, increasing production by 6.7% in June and exceeding its mid-year hashrate goal of 20 EH/s. It mined 445 BTC, sold only 8, and ended the month with 6,591 BTC in reserves.
Sources:
https://cointelegraph.com/news/bitcoin-miner-production-falls-june-power-curtailment-weather
https://www.riotplatforms.com/riot-announces-june-2025-production-and-operations-updates/