Mining Output Slumps 5-28% at CleanSpark, BitFuFu, Canaan Despite Bitcoin Recovery

Woofun AI reports that Bitcoin mining output declined again in July at CleanSpark, BitFuFu and Canaan, despite a recovery in Bitcoin's price after June's sharp selloff.

CleanSpark produced 586 BTC in July, down about 5% from 614 BTC in June. Its average operating hashrate declined roughly 9%, while average daily production stood near 18.9 BTC. The company ended the month with 13,931 BTC.

Woofun AI data shows, BitFuFu mined 112 BTC, compared with 125 BTC in June. Its total managed hashrate fell about 7%. Self-mining production increased to 72 BTC from 70 BTC, while cloud-mining output dropped to 40 BTC from 55 BTC. BitFuFu also used part of its Bitcoin holdings for advance payments tied to future hashrate capacity. Its treasury consequently declined to 1,314 BTC from 1,671 BTC.

Canaan recorded the largest production decline, mining 46 BTC in July versus 64 BTC in June. The company said its joint-venture mining operations continued to stabilize after wildfire disruptions at its Alborz site in Texas. Canaan finished July with 1,917 BTC and 3,952 ETH on its balance sheet.

CleanSpark has increasingly positioned its infrastructure as part of a broader data-center business. In July, it signed a reported $6.6 billion, 20-year lease with an unnamed technology company for its Sandersville, Georgia, campus. Stock performance has also diverged sharply. CleanSpark remained positive year to date, while BitFuFu and Canaan recorded declines of more than 50% and 70%, respectively.