CLEANSPARK MADE 593 BITCOIN AND PARTED WITH 821 — ONLY 77 BY CHOICE

Three bitcoin miners reported August. Two of them finished the month with less bitcoin than they started.

CleanSpark made 593 coins and parted with 821. Its stack went from 13,931 to 13,703. Every headline will say the miner sold more than it mined. Read the release and that is not quite what happened. Seventy-seven coins were sold at market. Five hundred were called away, because CleanSpark had written call options and the buyers exercised them. Another 244 sat in a hedged trade. Only the 77 were a decision made in August.

The blended price across all of it was $65,420. Bitcoin trades well above that today.

Canaan did choose. It mined 44 coins and sold 54, plus every ether it owned, all 3,952 of them. That raised about $13.9 million, and $5.4 million of it went to buying back 13.6 million of its own shares, which works out to about forty cents a share. What is left is 1,868 bitcoin and no ether.

BitFuFu was the only one that grew, from 1,314 coins to 1,373.

One more line worth your time. The quote CleanSpark put at the top of its own release is not about bitcoin. It is about construction at a data center for a tenant with good credit. And 3,951 of its remaining coins, nearly three in ten, are pledged or tied to a derivative. The mining company is turning into a landlord, and its coins are increasingly spoken for.

At the time of this writing, bitcoin was $79,117 at 3:14 PM ET on Crypto.com.