Bitcoin miner production falls in June on power curtailment, weather

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Several Bitcoin mining firms reported lowered BTC accumulation successful June, chiefly owed to powerfulness curtailment successful Texas.

Riot Platforms produced 450 Bitcoin (BTC) successful the month, a 12% diminution from May, erstwhile the steadfast mined 514 BTC, it stated successful an announcement connected Thursday.

Riot CEO Jason Les said the firm’s powerfulness strategy includes “economic curtailment” and voluntary information successful the Electric Reliability Council of Texas’s Four Coincident Peak (4CP) and different request effect programs. 

It “significantly contributes to grid stableness portion enhancing Riot’s competitory positioning,” helium added. 

June marked the opening of the ERCOT’s 4CP program, a tariff that captures request charges successful the market. It is designed to negociate the periods of highest energy request during the months of June, July, August and September.

Large energy consumers, specified arsenic Bitcoin miners, look transmission charges based connected their usage during highest periods, truthful they tin voluntarily curtail operations.

Riot besides reported that it sold 397 BTC for $41.7 cardinal and presently holds 19,273 Bitcoin.

Riot accumulation figures for June. Source: Riot Platforms 

Cipher accumulation impacted

Cipher Mining reported this week that it had produced 160 BTC successful June, sold 58 BTC, and holds 1,063 Bitcoin. 

The institution stated that its June accumulation numbers were impacted by deliberate curtailment arsenic portion of their “proactive 4CP avoidance strategy.”

“This attack allowed the institution to debar costly 4CP penalties and support its presumption arsenic having immoderate of the lowest powerfulness costs successful the industry,” it stated. 

Related: Bitcoin accumulation costs up 9% connected higher hashrate, vigor prices

Cipher’s Black Pearl installation successful Texas started contributing to accumulation astatine the extremity of June, but the wide monthly accumulation was reduced owed to the strategical curtailment. 

MARA mining down 25%

MARA Holdings besides reported a 25% simplification successful accumulation for June, with 211 Bitcoin mined compared to 282 the erstwhile month. As of June 30, the institution held a full of 49,940 BTC and did not merchantability immoderate during the month. 

MARA CEO Fred Thiel said, “Following a record-breaking May, accumulation successful June came successful lower, with 211 blocks won for the month.” 

He blamed the diminution connected “reduced uptime from weather-related curtailment” and the impermanent deployment of older machines successful its Garden City, Texas, installation portion storm-related harm was being repaired. 

“Natural variability successful artifact luck — an expected dynamic erstwhile operating our ain mining excavation — besides contributed,” helium said. 

CleanSpark bucks the trend

Meanwhile, CleanSpark increased its Bitcoin accumulation by 6.7% successful June, surpassing its mid-year hashrate people of 20 exahashes per 2nd (EH/s). 

The steadfast produced 445 Bitcoin and lone sold 8, bringing its full holdings to 6,591 Bitcoin arsenic of the extremity of the month. 

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