Bitcoin mining output drops for CleanSpark and BitFuFu in September
Bitcoin production slips for two major miners in September
Bitcoin mining output fell in September for publicly traded companies CleanSpark and BitFuFu. Canaan's production stayed the same. This follows a small rise in August for some miners.
Key production numbers
- CleanSpark mined 529 Bitcoin, down nearly 11% from 593 in August.
- BitFuFu produced 167 Bitcoin, a 4% drop from 174 in August.
- Canaan mined 44 Bitcoin, unchanged from August.
Company updates
CleanSpark ended September with 13,530 Bitcoin, down from 13,703 at the end of August. The company sold 2 Bitcoin on spot markets and 700 Bitcoin through call option exercises at an average price of $72,928 per Bitcoin. CleanSpark also announced it will stop monthly mining reports and move to quarterly updates as it focuses on its growing data center business.
BitFuFu's total Bitcoin holdings rose slightly to 1,388 from 1,373. Its own mining production increased more than 11% to 98 Bitcoin, but cloud mining output fell nearly 20% to 69 Bitcoin. The company also reported problems with a planned 80 MW Bitcoin mining site acquisition in Ethiopia due to disputes between the site operator and local electricity suppliers.
Canaan's Bitcoin holdings increased to 1,875 from 1,868. The company said its 8 MW heating project in the Nordic region is fully online, using heat from computing equipment to supply around 2,800 homes. It is also developing a similar heat-recovery project in Canada.
Stock performance
CleanSpark shares traded at $8.76 on Thursday, down more than 24% year to date. BitFuFu stock was at $1.27, down over 54% year to date. Canaan shares were at $0.25, down more than 68% year to date.
Why this matters
The production declines show ongoing challenges for some Bitcoin miners. CleanSpark is shifting resources toward its data center expansion, while BitFuFu faces operational hurdles in Ethiopia. Canaan's flat output and new heating project highlight efforts to diversify revenue streams.
What's still unclear
BitFuFu is weighing its options regarding the Ethiopia deal, including possibly cancelling it to recover some investment. No final decision has been announced.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.