CleanSpark, BitFuFu and Canaan are among the leading Bitcoin mining companies that reported a decline in production for the month of June.
Data from The Block shows that these three companies saw their combined hashrate, a measure of the computational power used to mine cryptocurrency, fall by over 20% compared to May's numbers.
The drop is attributed to various factors, including the ongoing crypto winter and increased competition in the mining industry. CleanSpark's June production was down 26%, while BitFuFu saw a 25% decline. Canaan reported a decrease of 21%.