Bitfufu and CleanSpark See Bitcoin Mining Output Rebound in August; Canaan Continues Three-Month Decline

Among U.S.-listed Bitcoin (BTC) mining companies, Bitfufu and CleanSpark saw their August production rebound, while Canaan continued its third straight month of decline.

According to The Block on August 15 (local time), Bitfufu mined 174 BTC last month, a 55% increase from July's 112 BTC. This was largely due to a 45.1% rise in the company's total hash rate to 20.6 EH/s compared to the previous month.

Cloud mining output rose from 40 BTC to 86 BTC, more than doubling, while self-mined production increased from 72 BTC to 88 BTC, a 22% rise. Bitfufu's Bitcoin holdings grew from 1,314 BTC to 1,373 BTC during the same period.

CleanSpark produced 593 BTC in August, up about 1% from the previous month, despite a slight decrease in average operating hash rate to 38.3 EH/s. Its cumulative production for January through August totaled 4,903 BTC.

However, CleanSpark's Bitcoin holdings decreased from 13,931 BTC at the end of July to 13,703 BTC at the end of August, as it sold 77 BTC on the spot market and used 500 BTC for call option exercises and 244 BTC in Basis transactions.

In contrast, Canaan mined 44 BTC in August, continuing its three-month decline from July's 46 BTC and June's 64 BTC. The company sold all 3,952 ETH it held and 54 BTC for approximately $13.9 million in cash.

Canaan used $5.4 million to repurchase 13.6 million ADS shares of its own stock. As of the end of August, Canaan's cryptocurrency holdings stood at 1,868 BTC with no Ethereum holdings remaining.