In June, several Bitcoin mining companies reported a decrease in production primarily due to power curtailment in Texas, which was aimed at mitigating costly peak demand charges. Riot Platforms produced 450 Bitcoin, a drop of 12% from May’s production of 514 BTC, while Cipher Mining produced 160 BTC. Both companies attributed their reduced outputs to strategies designed to avoid expensive tariffs under the Electric Reliability Council of Texas’s Four Coincident Peak (4CP) program. Mara Holdings also experienced a 25% reduction, mining 211 BTC, citing weather-related curtailments and equipment issues at their Texas facility. In contrast, CleanSpark increased its Bitcoin production by 6.7%, producing 445 BTC while maintaining substantial holdings. The curtailment strategies reflect an industry trend where firms are balancing operational costs against production outputs during peak electricity demand periods.

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