U.S.-listed Bitcoin mining firms CleanSpark, BitFuFu, and Canaan all reported lower Bitcoin production in July compared with June, extending a second consecutive month of declines despite a recovery in Bitcoin’s price.
CleanSpark mined 586 BTC in July, down roughly 5% from 614 BTC in June. Its average operating hashrate declined about 9%, while average daily production stood near 18.9 BTC. The company ended the month with 13,931 BTC, one of the larger Bitcoin treasuries among publicly traded miners.
BitFuFu produced 112 BTC, down from 125 BTC in June, a decline of about 10%. Total managed hashrate fell roughly 7%, but its self-mining segment 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, reducing its treasury to 1,314 BTC from 1,671 BTC.
Canaan recorded the largest drop, mining 46 BTC in July versus 64 BTC in June, a decline of about 28%. 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.
The production declines came even as Bitcoin’s price rebounded from around $58,500 at the start of July to roughly $63,000 by month-end. That suggests operational factors such as network difficulty, equipment downtime, infrastructure conditions, or strategic shifts drove the reductions rather than market conditions.
The figures highlight broader challenges in Bitcoin mining, including rising energy costs, hardware supply constraints, fluctuating hash price, and post-halving economics. CleanSpark has expanded its data-center strategy, signing a reported $6.6 billion, 20-year lease with an unnamed technology company for its Sandersville, Georgia campus. Meanwhile, stock performance has diverged sharply: CleanSpark remained positive year to date, while BitFuFu and Canaan recorded declines of more than 50% and 70%, respectively.
