- Bitcoin miners report diverging results, with BitFuFu increasing August production to 174 BTC.
- CleanSpark produces 593 BTC, while its treasury declines to 13,703 BTC after sales and other transactions.
- Canaan sells its entire ETH position and 54 BTC, generating approximately $13.9 million.
Bitcoin miners reported contrasting August results, with BitFuFu recording a sharp production rebound while Canaan posted another decline. CleanSpark delivered a smaller increase, although its treasury holdings fell after sales and other transactions.
BitFuFu produced 174 BTC, up 55.4% from July’s 112 BTC. CleanSpark’s detailed update puts output at 593 BTC, while Canaan mined 44 BTC, down from 46 BTC.
Bitcoin Miners Expand Capacity, but Production Gains Vary
BitFuFu increased managed hashrate by 45.1% to 20.6 EH/s as previously secured capacity entered service. Cloud mining contributed 86 BTC, more than double July’s 40 BTC, while self-mining generated 88 BTC.
Fleet efficiency improved to 16.7 joules per terahash from 18, indicating lower electricity consumption per unit of computing power. Managed power capacity reached 344 megawatts, and treasury holdings increased by 59 BTC to 1,373 BTC.
Among the Bitcoin miners covered, CleanSpark recorded the highest monthly output. Production rose approximately 1.2% from July’s 586 BTC despite average operating hashrate slipping to 38.3 EH/s.
Its year-to-date production reached 4,903 BTC through August. However, holdings declined by 228 BTC to 13,703 BTC after spot sales, call exercises and a basis trade.
Canaan Sells Crypto Reserves and Repurchases Its Shares
Canaan’s mining output fell for a third consecutive month. August production of 44 BTC followed 46 BTC in July and 64 BTC in June.
Unlike the other Bitcoin miners discussed, Canaan also liquidated its entire Ethereum position. It sold 3,952 ETH and 54 BTC at average prices near $2,400 and $79,000, respectively.
Those transactions generated approximately $13.9 million in cash. The company spent $5.4 million repurchasing 13.6 million American Depositary Shares and ended August holding 1,868 BTC.
Shares of the Bitcoin miners traded unevenly on Monday. Canaan gained approximately 2.4% to $0.34, BitFuFu traded flat at $1.29, and CleanSpark declined 2.3% to $13.36.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
