Bitcoin Miners are Melting Under the Summer Heat 🔥

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So, it turns out that Bitcoin mining and summer heat don’t mix well. Who knew? 🤷‍♀️ US-based miners are reporting lower hashrates in June because they’re trying to avoid those pesky high power costs and grid penalties. It’s like when you try to save money on your electricity bill by turning off the AC, but then you just end up sweating all day. 💦

This article is from Theminermag, a trade publication that’s all about the cryptocurrency mining industry. Because, you know, someone has to keep track of all those Bitcoin miners and their hashrates.

Cipher Mining, for example, said they expanded their installed hashrate capacity to 16.8 EH/s in June. But, in reality, they only produced 160 BTC, which implies a realized capacity of 10.58 EH/s on average. That’s like saying you can eat a whole pizza by yourself, but really you only manage to finish half of it. 🍕

And it’s not just Cipher Mining. MARA, the largest public Bitcoin miner, also reported a production slowdown. Their realized hashrate dropped to 47.13 EH/s in June, which is down nearly 20% from May. That’s like going from a 5K run to a leisurely stroll. 🏃‍♀️

So, what’s causing all these slowdowns? Well, it’s not just the heat. It’s also the “4CP avoidance strategy”, which is a fancy way of saying “we don’t want to pay too much for electricity”. And then there’s the weather-related curtailment, which is just a nice way of saying “it’s too hot outside”. ☀️

But don’t worry, it’s not all doom and gloom. The production slowdowns are just a minor setback, and the miners will be back to their usual selves in no time. After all, as the great philosopher, Dolly Parton, once said, “Working 9 to 5, what a way to make a living”. 💼

The original article can be viewed here. Because, you know, sometimes you just want to read the original article and not the sarcastic summary. 🤓

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2025-07-04 01:27