Multiple Bitcoin Mining Firms Experience Output Drop in June Due to Texas Power Event

BlockBeats News, July 4th, according to Cointelegraph, several Bitcoin mining companies reported a decrease in Bitcoin production in June, mainly due to power restrictions in Texas. The Electric Reliability Council of Texas (ERCOT) initiated the 4CP (Four Coincident Peak) program to optimize power distribution and reduce system costs by managing peak demand on the grid during four key summer months (June, July, August, and September).

Riot Platforms mined 450 bitcoins in June, a 12% decrease from 514 in May. In June, Riot sold 397 BTC, generating a profit of $41.7 million and currently holding 19,273 bitcoins. Cipher Mining mined 160 bitcoins in June, sold 58, and holds 1,063 bitcoins. MARA Holdings saw a 25% decrease in production in June, mining 211 bitcoins, lower than May's 282. As of the end of June, MARA holds 49,940 bitcoins and did not sell any during the month. Meanwhile, CleanSpark experienced a 6.7% increase in Bitcoin production in June, surpassing its mid-year 20 EH/s hash rate goal. CleanSpark mined 445 bitcoins, only sold 8, and held 6,591 bitcoins by the end of the month.