Bitcoin Mining Firms Report Second Straight Month of Decreased Output

Three major Bitcoin mining companies, CleanSpark (NASDAQ: CLSK), BitFuFu (NASDAQ: FUFU), and Canaan (NASDAQ: CAN), have reported lower monthly output in July despite a partial recovery in Bitcoin's price. The decline in production marks the second consecutive month of decrease for these firms.

CleanSpark produced 586 Bitcoins in July, down from 614 in June, with an average daily output of 18.9 Bitcoins. The company's average operating hashrate decreased during the period, while its nameplate operational capacity remained at 50 EH/s.

BitFuFu reported mining 112 Bitcoins in July, down from 125 in June, with a daily production average of 3.6 Bitcoins. Self-mining output rose slightly to 72 Bitcoins from 70, while the cloud-mining portion fell to 40 Bitcoins from 55.

Canaan mined 46 Bitcoins in July, down from 64 in June, with an operating hashrate in its joint venture rising to 4.20 EH/s and installed capacity reaching 4.85 EH/s by month-end.