Bitcoin Mining Update CleanSpark and BitFuFu Output Drops, Canaan Stays Steady

Author Name: Priyanka
Author Bio: Priyanka is a cryptocurrency and financial news writer covering Bitcoin mining, blockchain technology, digital assets, market developments, and the companies shaping the global crypto industry.
Publish Date: October 16, 2026
Updated Date: October 16, 2026

Bitcoin mining companies reported mixed production results for September 2026, with CleanSpark and BitFuFu recording lower monthly output while Canaan maintained its production level. The latest operational updates highlight the challenges facing publicly traded Bitcoin miners as they manage mining efficiency, electricity costs, treasury holdings, and infrastructure investments.

CleanSpark produced 529 Bitcoin during September, down from 593 BTC in August. BitFuFu mined 167 BTC, compared with 174 BTC in the previous month, while Canaan reported unchanged production of 44 BTC.

The results reflect different operational conditions across the mining industry, including changes in cloud mining activity, power availability, and companies’ broader infrastructure strategies.

CleanSpark Bitcoin Production Falls Nearly 11%

CleanSpark reported producing 529 BTC in September, representing a decline of approximately 10.8% from the 593 BTC it mined in August.

The company reported an operational hashrate of 50 exahashes per second (EH/s), with an average operating hashrate of 36 EH/s. Its year-to-date Bitcoin production reached 5,432 BTC by the end of September.

CleanSpark’s Bitcoin treasury also declined during the month. The company held 13,530 BTC on September 30, compared with 13,703 BTC at the end of August.

Its September update disclosed that it sold two Bitcoin on the spot market and delivered another 700 BTC through exercised call options. The reported average price for those transactions was $72,928 per Bitcoin.

The company is also changing how it reports mining performance. CleanSpark announced that it will discontinue monthly operational updates and move to quarterly reporting as it expands its data center business.

CleanSpark Expands Its Data Center Business

Alongside its mining operations, CleanSpark is investing heavily in data center infrastructure.

The company announced that it had closed a $2.276 billion senior secured notes offering to finance construction of its Sandersville data center campus in Georgia. The project is supported by a 20-year lease covering 175 megawatts of capacity, with approximately $6.6 billion in expected contracted revenue over the initial lease term.

The expansion reflects CleanSpark’s strategy of developing infrastructure for data center customers while continuing to operate its Bitcoin mining business.

The company’s transition toward quarterly mining reports means investors will need to rely on less frequent operational disclosures to assess changes in its Bitcoin production and holdings.

BitFuFu Production Declines as Cloud Mining Output Weakens

BitFuFu reported mining 167 BTC in September, down 4% from 174 BTC in August. Its average daily production remained stable at approximately 5.6 BTC.

The company’s results showed a difference between its two principal production sources:

• Self-mining: Production increased to 98 BTC from 88 BTC in August.
• Cloud mining: Production declined to 69 BTC from 86 BTC in August.

The decrease in cloud mining output offset the improvement in self-mining, resulting in lower total production.

BitFuFu’s total hashrate under management fell to 19.4 EH/s from 20.6 EH/s in August. Its self-owned hashrate remained unchanged at 3.8 EH/s, while hashrate from third-party suppliers and hosting customers declined.

Despite the lower monthly production, the company’s Bitcoin holdings increased to 1,388 BTC from 1,373 BTC.

Ethiopia Mining Acquisition Faces Uncertainty

BitFuFu also disclosed continuing uncertainty surrounding its proposed acquisition of a Bitcoin mining facility in Ethiopia.

The proposed transaction involves an 80-megawatt facility. BitFuFu said the acquisition had not been completed because certain conditions remained outstanding.

The company reported a contractual dispute between the facility’s operator and its electricity supplier. The dispute could affect the acquisition and the operating arrangements for equipment deployed at the site.

BitFuFu is evaluating its contractual options, including possible termination of the agreement, arbitration, recovery of amounts paid, and the return of deployed mining machines.

The company said it believes the potential impact on its overall operations can be managed, although the final outcome remains uncertain.

Canaan Maintains Bitcoin Production at 44 BTC

Unlike CleanSpark and BitFuFu, Canaan reported stable monthly production in September.

The company mined 44 BTC, matching its August output and ending a three-month period of consecutive monthly declines.

Canaan’s Bitcoin holdings increased slightly to 1,875 BTC at the end of September, compared with 1,868 BTC in August.

The figures suggest that the company’s reported production remained steady during the month, although monthly output alone does not provide a complete picture of mining profitability or long-term performance.

Nordic Heating Project Becomes Fully Operational

Canaan also announced progress in its energy-recovery initiatives.

Its 8-megawatt Nordic district heating project became fully operational, using heat generated by computing equipment to supply approximately 2,800 homes.

The project demonstrates how Bitcoin mining infrastructure can potentially be used for purposes beyond cryptocurrency production. Recovering heat from computing operations may provide an additional use for energy that would otherwise be released into the surrounding environment.

Canaan is also developing a heat-recovery project in Canada, including a greenhouse application.

These projects form part of the company’s broader efforts to explore additional uses for its computing infrastructure.

September Bitcoin Mining Results Compared

Company	August production	September production	Monthly change
CleanSpark	593 BTC	529 BTC	-10.8%
BitFuFu	174 BTC	167 BTC	-4.0%
Canaan	44 BTC	44 BTC	0%

The figures show that CleanSpark recorded the largest percentage decline among the three companies, while BitFuFu experienced a smaller decrease in total production. Canaan’s output remained unchanged.

However, the companies have different operating models, mining capacities, costs, and investment strategies. Their production figures should therefore be considered alongside financial results, electricity expenses, hashrate, and Bitcoin treasury movements.

What the Results Mean for Bitcoin Mining

The latest production reports illustrate several important trends in the Bitcoin mining sector.

Operational efficiency remains important. Changes in mining output can reflect adjustments in hashrate, equipment availability, electricity supply, and operating conditions.

Cloud mining can influence overall production. BitFuFu’s results demonstrate how a decline in cloud mining output can outweigh gains from self-mining.

Mining companies are diversifying. CleanSpark’s investment in data centers and Canaan’s heat-recovery projects show how some companies are exploring business opportunities beyond mining Bitcoin alone.

Treasury movements matter. Production does not necessarily translate into higher Bitcoin holdings. Sales, derivative transactions, purchases, and other treasury decisions also affect the amount of Bitcoin a company retains.

For investors, these factors can be as important as the number of Bitcoin mined during a particular month.

What to Watch Next

Investors and cryptocurrency market observers will be watching several developments in the coming months:

• CleanSpark’s transition from monthly to quarterly operational reporting.
• Progress on the Sandersville data center project.
• BitFuFu’s efforts to resolve uncertainty surrounding its Ethiopian acquisition.
• Changes in Bitcoin production and hashrate across publicly traded miners.
• Canaan’s performance following the launch of its Nordic heating project.
• Bitcoin prices, electricity costs, and mining difficulty.

These factors could influence mining companies’ revenue, operating costs, Bitcoin holdings, and future investment decisions.

Final Thoughts

September’s Bitcoin mining updates show that production trends are diverging among major publicly traded miners. CleanSpark’s output declined nearly 11%, BitFuFu recorded a 4% decrease, and Canaan maintained its production at 44 BTC.

CleanSpark is increasingly investing in data center infrastructure, BitFuFu is managing a cloud mining slowdown and uncertainty around its Ethiopian acquisition, while Canaan is maintaining production and expanding its heat-recovery initiatives.

The main takeaway is that Bitcoin mining performance depends on more than monthly output alone. Investors should also consider hashrate, electricity costs, treasury movements, infrastructure investments, and each company’s ability to adapt to changing market conditions.

The next operational reports should provide further insight into whether these September trends continue and how the companies balance Bitcoin mining with their broader business strategies.