Bitcoin Price Rebound Fails to Boost Output for Major Miners
Bitcoin's price rebound in July did not translate to higher production for major publicly traded miners CleanSpark, BitFuFu, and Canaan. According to recent reports, these companies saw a second consecutive month of declining output.
CleanSpark mined 586 BTC in July, down about 5% from the 614 BTC it produced in June. This decline was largely due to a decrease in operating hash rate, which fell by around 9%. As a result, CleanSpark's average daily Bitcoin production decreased to approximately 18.9 BTC.
BitFuFu also experienced a drop in total output, falling to 112 BTC as its managed hash rate declined by about 7% from the previous month. However, its self-mining production saw a slight increase to 72 BTC from 70 BTC, offsetting some of the losses.
Canaan recorded the largest decline among the three companies, with a 28% drop in output to 46 BTC from 64 BTC in June. The company cited wildfire damage at one of its facilities as a contributing factor, but noted that operations are gradually returning to normal.