Three Bitcoin mining companies reported reduced production in June despite lower mining difficulty, with CleanSpark signing a major lease contract.
In June, CleanSpark, BitFuFu, and Canaan reported a significant drop in Bitcoin production, despite a decrease in mining difficulty that reached its lowest level since 2026.
CleanSpark's output decreased from 671 BTC in May to 614 BTC in June, primarily due to a decline in its average operational hash rate, which fell from 46 EH/s to 43 EH/s. The company ended the month with a total of 13,924 BTC.
BitFuFu experienced a similar downturn, with production falling from 177 BTC to 125 BTC. This was attributed to a reduction in leased capacity, which led to a drop in total computational power from 19.5 EH/s to 15 EH/s. Nevertheless, BitFuFu expanded its operations by adding 1,200 S21 XP miners, boosting its hash rate to 3.5 EH/s, and plans to deploy an additional 2,000 miners in July.
Canaan's Bitcoin production also declined, from 90 BTC to 64 BTC, due to maintenance on the power grid at one of its facilities. The company, however, recovered from wildfire-related disruptions in its Texas joint venture, finishing June with a record total of 1,915 BTC and 3,952 ETH after adding 49 BTC to its balance.
The stock market reflected mixed reactions to these production drops: CleanSpark's shares rose 5% to $13, BitFuFu's increased by 7% to $1.42, while Canaan's shares fell by 1.5% to $0.20.
CleanSpark Signs $6.6 Billion Data Center Lease
On July 14, CleanSpark announced a major 20-year lease for a data center campus in Sandersville, Georgia, valued at $6.6 billion, with an unnamed investment-grade technology firm. This facility will support a capacity of 175 MW and is expected to commence operations by the fourth quarter of 2027. The agreement includes options for two five-year extensions, potentially raising the total deal value to $11.6 billion.
“This contract signifies our transition from Bitcoin mining to a more diversified digital infrastructure model,” stated CleanSpark CEO Matt Schultz.
CleanSpark also signed an agreement for exclusive negotiations regarding its Texas portfolio, which encompasses two sites with a total of 718 acres and a potential capacity of up to 885 MW for data center development. The company anticipates generating around $330 million in net operating income annually from the new contract, with nearly a 100% operating margin.
Since shifting focus toward AI infrastructure in late 2025, CleanSpark has been exploring opportunities to develop its data center business and retrofit energy sites for AI workloads. Additionally, MARA Holdings has secured a site in Matagorda County, Texas, with a potential deal value of $600 million.
