BitFuFu’s September Bitcoin Output Falls Amid Ethiopia Power Dispute

BitFuFu’s Bitcoin mining output fell in September as a dispute over electricity supply delayed its proposed Ethiopian acquisition, while Canaan held production steady and expanded heat reuse.

BitFuFu produced 167 BTC, compared with 174 BTC in August. Its own mining operations generated 98 BTC, up from 88 BTC, while cloud-mining output declined to 69 BTC from 86 BTC. The company’s managed computing power fell to 19.4 exahashes per second.

The proposed acquisition of an Ethiopian mining operation remains incomplete amid a dispute involving the site’s electricity supplier. BitFuFu has paid $4.1 million and deployed about 13,700 machines at the site, leaving the project’s status tied to the unresolved power issue.

Canaan mined 44 BTC in September, matching its August output. Its Bitcoin holdings rose to 1,875 BTC from 1,868 BTC at the end of the previous month. The company’s computing capacity outside joint ventures stood at 10 exahashes per second, while its joint ventures operated at 4.18 exahashes per second.

Canaan said its eight-megawatt Nordic facility now uses heat recovered from mining to serve about 2,800 homes. It is also preparing a heat-recovery project for greenhouses in Canada, with final site inspections still pending.

The miners’ September figures show different operating changes: BitFuFu’s total output decreased as its cloud-mining segment contracted, while Canaan’s production was flat. CleanSpark mined 529 BTC and held 13,530 BTC at September’s end; its September holdings and sales have been covered previously.

CleanSpark also plans to move from monthly operating updates to quarterly releases. That change leaves BitFuFu and Canaan’s September figures as separate snapshots of production, capacity and infrastructure projects across the mining sector.