While the esteemed titans of bitcoin mining have been fumbling with murky plans that resemble hesitation, the less illustrious but equally ambitious competitors have unleashed their full might, shattering records in the realm of bitcoin production during the splendid month of August.
This commentary springs from that dependable luncheon companion, Theminermag, a beacon of wisdom for the mining industry’s brave souls, keeping them abreast with the latest swoon-worthy tales of institutional bitcoin miners.
Per their celebrated monthly bulletins, the curious fellowship of HIVE, Bitdeer, Cipher, and the audacious Canaan unveiled double-digit triumphs in their hashrate outplay last month. Their exuberance stood in stark contrast to the more demure posturing of the reigning behemoths.
HIVE, ever the overachiever, spiraled its hashrate by 27.9% to a commanding 16.2 EH/s in August, ensnaring 247 bitcoins in its grasp. This spectacle was powered by the awakening of its clandestine Paraguayan arenas, once under Bitfarms’ dominion, leading to claims of exceeding 18 EH/s of installed might. HIVE shared, in an anticipatory tone, its lofty aspiration to reach 25 EH/s come Thanksgiving in the land of free bastions, boasting daily yields of approximately 12 bitcoins whilst its 100-megawatt Valenzuela site, like an industrious workhorse, nears completion.
Bitdeer, still cloaked in mystery over its monthly recounts, boldly declared in its weekly dispatch that it harvested 335 bitcoins across August’s span, hinting at a hashrate of nearly 22 EH/s-oh, a precipitous 25% growth from July, not counting August’s unfilled days.
Cipher too ascended by 18.4%, claiming 15.8 EH/s and 236 bitcoins. Their oracle spoke of Black Pearl Phase I, a site almost single-handedly responsible for 40% of production, on course to brandish 10 EH/s by quarter’s end, expanding Cipher’s fleet to a hefty 23.5 EH/s.
Canaan, a maestro of creation yet also mining’s conductor, swelled its hashrate by 15.7% to 6.4 EH/s, mining 98 bitcoins in August’s vast sweep. They reported 8.6 EH/s of capacity, with an additional 1.46 waiting in the wings, ready to march forth. Canaan prophesies surpassing 10 EH/s once their assembled regiment is fully mobilized.
This vibrancy accentuates an intriguing strategic schism. The colossal miners, swelled in hubris from the previous market chase, now drag their feet on new purchases amid the inclemency of record network hashres, trivial transaction fees, despite bitcoin’s stars still shining brightly above $100,000. In contrast, these second-tier stalwarts persist unfaltering in their scale-up endeavors, partly by artfully wielding their own stockpiles, spearheaded by Bitdeer and Canaan.
If your insatiable curiosity demands it, the original saga can be unraveled here.
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2025-09-10 09:57