The crypto market is regaining balance, with investors showing renewed interest in buying.
Bitcoin rose to $64142 on Tuesday, gaining 1.01% over the past 24 hours and 0.25% over the week.
Publicly listed Bitcoin miners CleanSpark, BitFuFu and Canaan reported a second consecutive monthly decline in Bitcoin production in July, despite the recovery in BTC prices following June’s sharp sell-off.
CleanSpark mined 586 BTC in July, down about 5% from 614 BTC in June. BitFuFu’s production fell roughly 10% to 112 BTC from 125 BTC, while Canaan recorded the steepest decline, with output dropping about 28% to 46 BTC from 64 BTC.
The decline in mining output came as Bitcoin recovered during July. BTC opened the month near $58500 and finished around $62800 after falling sharply in June from approximately $73500 to $58500.
The miners’ share-price performance has varied significantly this year. CleanSpark (CLSK) rose 1.8% to $12.30 on Monday and is up around 6.4% year to date. BitFuFu fell 5.5% to $1.37 and has lost more than half its value this year, while Canaan (CAN) slipped about 1% to $0.23 and is down more than 70% year to date.
The total cryptocurrency market capitalization stands at $2.19 trillion. Bitcoin accounts for 58.8% of the market, while Ethereum’s share is 10.4%.