Bitcoin mining companies are adjusting operations as Texas heat and power market dynamics reshape production plans. Multiple mining firms reported lower Bitcoin output in June as they curtailed operations to manage soaring peak demand charges and protect long-term profitability.
Riot Platforms, one of North America’s largest Bitcoin miners, mined 450 BTC in June, a 12% drop from May’s 514 BTC. CEO Jason Les said Riot’s “economic curtailment” strategy aligns with Texas’s Four Coincident Peak (4CP) program under the Electric Reliability Council of Texas (ERCOT). The company’s voluntary participation helps stabilize the grid and cuts transmission costs tied to summer peak demand. Riot sold 397 BTC for about $41.7 million and holds 19,273 BTC as of June 30.
Cipher Mining also scaled back output, producing 160 BTC in June and selling 58 BTC. It holds 1,063 BTC in reserve. Cipher said its “proactive 4CP avoidance strategy” is key to maintaining some of the industry’s lowest power costs.MARA Holdings saw the steepest decline among major miners, with production down 25% to 211 BTC in June from 282 BTC in May. CEO Fred Thiel cited weather-related downtime and storm damage at its Texas facility as key factors, alongside the temporary use of older mining rigs. MARA continues to hold 49,940 BTC without selling any during June.
While many miners scaled back, CleanSpark expanded. The firm boosted June production by 6.7% to 445 BTC, exceeding its mid-year hashrate target of 20 EH/s. CleanSpark sold just 8 BTC in June, raising total holdings to 6,591 BTC.ERCOT’s 4CP season runs from June through September, encouraging large energy consumers to shift or curtail usage during Texas’s peak summer demand to avoid costly transmission charges. For Bitcoin miners, strategic curtailment can significantly reduce operating expenses during the most expensive grid periods.
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