โ๏ธ BTC IS UP, BUT BITCOIN MINERS ARE STILL GETTING SQUEEZED ๐
Bitcoin production in July continued to fall for the second consecutive month across CleanSpark, BitFuFu, and Canaan, even as BTC rebounded during the month.
โ CleanSpark: 586 BTC, down ~5%
โ BitFuFu: 112 BTC, down ~10%
โ Canaan: 46 BTC, down ~28%
CleanSpark said its average operational hashrate dropped by about 9%, while it still held 13,931 BTC at month-end.
BitFuFu did better with direct mining at 72 BTC, but cloud-mining output fell, pulling total production down.
Canaan ended the month with 1,917 BTC + 3,952 ETH.
The noteworthy point I see is that BTC price gains donโt automatically mean miners are naturally healthier. When hashrate, difficulty, and operating costs create pressure, even if USD-denominated revenue rises, BTC output can still fall.
BTC: โI'm pumping.โ
Miners: โCool. Where are my BTC?โ ๐
Brothers, do you think public miners will keep accumulating BTC, or will cost pressure force them to sell more?
#miners #BTC๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ
Bitcoin production in July continued to fall for the second consecutive month across CleanSpark, BitFuFu, and Canaan, even as BTC rebounded during the month.
โ CleanSpark: 586 BTC, down ~5%
โ BitFuFu: 112 BTC, down ~10%
โ Canaan: 46 BTC, down ~28%
CleanSpark said its average operational hashrate dropped by about 9%, while it still held 13,931 BTC at month-end.
BitFuFu did better with direct mining at 72 BTC, but cloud-mining output fell, pulling total production down.
Canaan ended the month with 1,917 BTC + 3,952 ETH.
The noteworthy point I see is that BTC price gains donโt automatically mean miners are naturally healthier. When hashrate, difficulty, and operating costs create pressure, even if USD-denominated revenue rises, BTC output can still fall.
BTC: โI'm pumping.โ
Miners: โCool. Where are my BTC?โ ๐
Brothers, do you think public miners will keep accumulating BTC, or will cost pressure force them to sell more?
#miners #BTC๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ
