Bitcoin Miners BitFuFu and CleanSpark Report Higher August Output
Bitcoin miners BitFuFu and CleanSpark reported higher production in August, but Canaan's output declined for the third consecutive month. BitFuFu mined 174 BTC last month, a 55% increase from July's 112 BTC. The company's managed hashrate also rose by 45.1% to 20.6 EH/s, with cloud-mining production more than doubling to 86 BTC and self-mining output increasing by 22%. BitFuFu's Bitcoin holdings increased to 1,373 BTC from 1,314 BTC over the same period.
CleanSpark produced 593 BTC in August, up about 1% from July. However, its Bitcoin holdings fell to 13,703 BTC at the end of August from 13,931 BTC at the end of July due to spot market sales and basis trades. The company used 500 BTC for call-option exercises and 244 BTC for basis trades.
Canaan's production declined for a third straight month, with only 44 BTC mined in August compared to 46 BTC in July and 64 BTC in June. The company sold all 3,952 ETH it held, along with 54 BTC, raising about $13.9 million in cash. Canaan used some of the funds to repurchase 13.6 million American depositary shares.