Bitcoin mining rises at BitFuFu and CleanSpark in August, falls at Canaan
- —BitFuFu increased BTC mining in August, CleanSpark posted slight growth
- —Canaan sold its entire ETH position and 54 BTC
- —Part of the sale proceeds went to buy back 13.6 million Canaan shares
Why it matters: Canaan's sale of crypto reserves and rising output from competitors reflect pressure on miners and a redistribution of hashrate.
Source: The Block