Bitcoin Mining Weekly Roundup: Vanguard Opens to Crypto ETFs, Texas Buys Bitcoin

In this weekly roundup, we compiled the most significant Bitcoin and Bitcoin mining news stories from the past week (November 29, 2025, to December 5, 2025), covering major institutional moves, market shifts, and other notable developments.

Vanguard opens to crypto ETFs; Bank of America tells wealth clients to consider 1–4 % allocation

Bitcoin climbed above $92 000 on Dec. 2 after Vanguard—long considered anti‑crypto—announced it would allow clients to trade crypto exchange‑traded funds and mutual funds. Analysts noted that the decision by the world’s second‑largest asset manager signals to wealth advisers that mainstream acceptance is growing; one commentator said the market was “front‑running the wall of capital” expected to flow through Vanguard’s platform.

Bank of America also let wealth‑management advisers recommend crypto products and its chief investment officer’s guidance that a 1–4 % allocation to digital assets could be appropriate for clients comfortable with volatility. The combined announcements, along with a short squeeze of leveraged traders, helped fuel the day’s rally.

Source: Forbes

Texas becomes first U.S. state to buy Bitcoin for a public reserve

Texas became the first state to purchase bitcoin for a publicly funded strategic reserve. Following a law signed by Governor Greg Abbott, the state bought roughly $5 million worth of Bitcoin through BlackRock’s iShares Bitcoin Trust ETF. Texas lawmakers earmarked $10 million for the reserve and plan to hire a custodian to hold the crypto; supporters argue the investment could bolster state revenues and job creation as the industry matures.

Source: The Dallas Morning News

Strategy (MicroStrategy) sharply cuts 2025 earnings forecast as Bitcoin falls

Strategy—the largest corporate holder of Bitcoin—cut its 2025 earnings outlook to a range of a $6.3 billion profit to a $5.5 billion loss, down from a previous forecast of $24 billion. The company said the reduction was due to Bitcoin’s price falling below $90,000; the cryptocurrency had shed more than $18,000 in November. Shares of Strategy fell about 8 % on the announcement. To reassure investors, the firm established a US$1.44 billion reserve to fund dividends and interest payments and disclosed it owns about 650,000 bitcoins—roughly 3.1 % of all coins that will ever exist.

Source: Reuters

JPMorgan: Bitcoin mining profitability drops for fourth straight month

An analysis by JPMorgan, summarized by CoinMarketCap, found that bitcoin‑mining profitability declined for the fourth consecutive month in November. The report said daily block‑reward gross profit fell 26 % compared with October, while the network’s hashrate averaged 1,074 exahashes per second, down 1 % month‑over‑month. Miners earned about US$41,400 per exahash in daily revenue—14 % lower than in October and 20 % below last year’s level.

The market cap of 14 U.S.‑listed mining companies tracked by JPMorgan fell 16 % to $59 billion, with notable divergence between companies such as Cipher Mining (up 9 %) and Bitdeer (down 40 %). The report noted that operators are exploring diversification into artificial‑intelligence infrastructure and high‑performance computing to offset shrinking margins.

Source: CoinMarketCap

American Bitcoin stock tanks 40 % after lockup expiration

Shares of American Bitcoin Corp.—a mining firm co‑founded by Eric Trump—plunged 40 % to around $1.80 on Dec. 2 as a lock‑up period on pre‑merger private placement shares expired. Trading volume surged and multiple halts occurred while Bitcoin itself rallied over 7 % to roughly $91,653. Hut 8 owns 80 % of the company while Eric Trump holds 20%; he posted on X that the volatility was expected as early investors cashed in and vowed not to sell his own stake. American Bitcoin, which mined 215 bitcoins and raised $220 million by July 2025, had debuted on Nasdaq after merging with Gryphon Digital Mining.

Source: Reuters

Stablecoin Giant Tether to Shutter Uruguay Bitcoin Mining Operation

Tether announced that it will close its Bitcoin-mining facility in Uruguay, citing a strategic shift toward more diversified, global energy-backed mining operations. The company emphasized that while Uruguay’s renewable-energy landscape remains attractive, Tether is reallocating resources to regions that better support long-term scalability and integrated digital-asset infrastructure. The move comes as Tether continues to expand vertically into mining, energy, and hardware, even as it shuts down one of its earliest pilot facilities in South America.

 Source: Decrypt

China’s Bitcoin Mining Share Rebounds to 14%

China’s share of global Bitcoin mining has rebounded to roughly 14%, despite the government’s nationwide ban on mining activities. The resurgence—confirmed by hashrate-origin analysis—suggests that underground or proxy-based operations have quietly resumed, particularly in provinces with abundant hydroelectric or seasonal excess energy. Analysts note that while China no longer dominates global mining as it once did, the persistence of clandestine mining highlights both the profitability of mining and the difficulty of enforcing a full ban across vast, energy-rich regions.

Source: Tech in Asia

Disclaimer: The information in this roundup is sourced from reputable third-party media outlets and publicly available reports. It does not represent or reflect the official views, positions, or guidance of BitFuFu Inc., its subsidiaries, or any of its executives.