BitFuFu’s October Bitcoin Mining Output Falls Despite Steady Hashrate

TL;DR: BitFuFu produced 137 BTC in October, down from 167 in September, while managed hashrate stayed close to 19.5 EH/s. The miner attributed the decline partly to rising network difficulty, illustrating why steady capacity does not necessarily mean steady production. A Bitcoin miner can run broadly the same amount of computing power and still produce fewer coins. BitFuFu’s latest monthly operating statement provides a neat example. The company reported November 6 that it mined 137 BTC in October, down from 167 in September, even as total hashrate under management remained largely unchanged. Its managed rate stood at 19.5 exahashes per second, compared with 19.4 EH/s a month earlier. The company held 1,454 BTC at October’s end, up from 1,388 in September. Production decreased while the treasury balance increased, because production and coin retention are separate measures. Difficulty makes the same equipment earn less BitFuFu said Bitcoin network difficulty rose about 11.8% during October, from 132.76 trillion at the beginning of the month to 148.36 trillion at month-end. Difficulty adjusts how hard it is for miners collectively to find valid blocks. When competition increases, a ...