BitFuFu Bounces Back as Canaan Dumps Ethereum Holdings
Publicly traded Bitcoin miners have had different strategies in August 2026. BitFuFu, for instance, saw its Bitcoin production rebound from 112 BTC in July to 174 BTC. This recovery came with a significant increase in mining capacity, which rose by 45.1 percent month-over-month to reach 20.6 EH/s.
The company's cloud mining production jumped from 40 BTC to 86 BTC, while its own mining operations increased from 72 BTC to 88 BTC. BitFuFu now ranks 39th among publicly traded Bitcoin treasuries with a total of 1,373 BTC in its holdings.
On the other hand, Canaan's Bitcoin production fell for the third consecutive month from 46 BTC in July to 44 BTC in August. The company completely liquidated its Ethereum treasury, selling all 3,952 ETH and 54 BTC at an average price of $2,400 for Ethereum and $79,000 for Bitcoin.
This transaction provided Canaan with approximately $13.9 million in cash. Although the entire amount was not used for share buybacks, a portion of it, around $5.4 million, was allocated to repurchase 13.6 million American depositary shares. The company now holds 1,868 BTC and has zeroed out its Ethereum balance.