- Bitcoin miners scaled back Juny’s production due to the Texas Power reductions
- Cleanspark exceeded comrades, increased production and exceeded 20 Eh/Si Hashrat growth
Bitcoin (BTC) Miners withdrew production in June, but not all followed the script.
In the midst of increased demand in summer and strategic reductions in Texas, logging several large Bitcoin miners – riot platforms, cipher mining and Marathon Digital – remarkable drops in production. And yet Cleanspark broke rankings, published record-breaking hash frequency growth and higher BTC production, and avoids the broader unmathing.
Riot Trim’s output to support grids and lower costs
Riot -platforms saw a 12% dip in Bitcoin production In June, mining 450 BTC compared with 514 BTC last month. The downturn was largely due to the company’s decision to scale the business back during the highest summer requirement in Texas.
Source: Riot platforms
“Economic Reduction” and participation in ERCOTS FOUR COMINID PEAK (4CP) program were important elements in the company’s strategy, according to CEO Jason them.
“… contributes significantly to network stability while improving Riot’s competitive positioning.”
The miner sold 397 BTC for $ 41.7 million and contained a total of 19,273 Bitcoin at the end of June.
Interruption in the Bitcoin miners’ outcome
Circuit breaking And Mara Holdings joined Riot in Scaling Back Operations in June, with both companies that quoted power reduction and strategic planning as key factors behind lower production.
Source: Ciffer Mining
Cipher is broken 160 BTC, sold 58 and ended the month with 1,063 BTC in reserves. The company attributed the decline to its “proactive 4cp -fencing strategy”, as it said,
“… allowed the company to avoid costly 4CP penalties and maintain its position as having some of the lowest power costs in the industry.”
Cipher’s new Black Pearl website began to contribute late in the month, but it could not compensate the wider slowdown. At the same time, Mara registered a reduction of 25% of production and mining 211 BTC compared with 282 in May. CEO Fred Thiel pointed to weather-controlled limitations, older machines used and “natural variation in block-lying-expected dynamics when we use our own mining pool …”
Cleanspark defies the industry’s slowdown
In contrast to industry mates, clean park launched Its Bitcoin production with 6.7% in June, Mining 445 BTC while selling only 8. The company now has 6,591 BTC, after exceeding its middle of the year by reaching 20 EH/SI operational hashrat.
“Exceeding 20 Eh/s … is more than double our hashrat from December,” said CEO Zach Bradford and credited the team’s focus and efficiency.
While competitors trimmed production or sought alternative revenue streams, Cleanspark doubled growth, with upcoming enlargements in Wyoming and Tennessee, which aimed to drive towards their 50 EH/S target.
