CleanSpark and BitFuFu Mine Less Bitcoin in September While Canaan Holds Steady

CleanSpark produced 529 BTC, nearly 11% below the 593 BTC it mined in August. BitFuFu mined 167 BTC, a 4% drop from 174 BTC. Canaan stayed flat at 44 BTC, the same as the month before, which ended a three month run of declines for the company.

CleanSpark Moves to Quarterly Reporting

CleanSpark ended September with 13,530 BTC, down from 13,703 BTC. It sold 2 BTC on the spot market and another 700 BTC through call option exercises at an average price of $72,928 per coin. The company will stop publishing monthly mining updates and report quarterly, as its focus shifts toward data centers. Last week it closed a $2.276 billion senior secured note offering to fund its Sandersville, Georgia campus, which it expects to generate about $6.6 billion in revenue. Shares trade at $8.76, down more than 24% this year.

BitFuFu Cloud Mining Drop and Ethiopia Dispute

BitFuFu’s own mining rose more than 11% to 98 BTC from 88 BTC, but cloud mining fell nearly 20% to 69 BTC from 86 BTC. Its holdings edged up to 1,388 BTC from 1,373 BTC. A dispute between the operator of a proposed 80 MW Ethiopia site and local electricity suppliers has stalled its planned acquisition. BitFuFu has already put in $4.1 million and sent around 13,700 Bitmain Antminer S19 rigs there, and it is now weighing options, including cancelling the deal to recover part of its money. Shares trade at $1.27, down over 54% this year.

Canaan Holdings and Nordic Heating Project

Canaan raised its holdings to 1,875 BTC from 1,868 BTC. Its 8 MW heating project in the Nordic region is now fully online, using heat from computing equipment to supply around 2,800 homes, and a similar project is being developed in Canada. Shares trade at $0.25, down more than 68% year to date.