The heat wave that struck Texas and much of the US in June 2025 caused a decrease in Bitcoin's hashrate by 8.4%, with more than 1 million mining machines temporarily shut down to reduce the load on the power grid. This decline in operations was also triggered by rising spot electricity prices due to high energy demand during the heat wave. Despite the decrease in hashrate, the market capitalization of Bitcoin mining companies in the US actually increased by about 23% month-over-month, driven by enthusiasm for high-performance computing and potential acquisitions in this sector.

On the other hand, Bitcoin prices remained stable in the range of $106,000 to $111,000 in early June 2025, despite short-term correction pressures due to profit-taking and cautious macro sentiment. Institutional investors continue to show strong interest, reflected in the significant decrease in Bitcoin supply on exchanges, indicating a long-term accumulation phase. Macroeconomic factors such as slowing inflation and easing monetary policy also support positive sentiment towards Bitcoin and other cryptocurrencies.

In summary, the extreme heat wave in Texas put pressure on Bitcoin mining activity while the market remained optimistic with relatively stable prices and strong investment interest.#Texas $BTC