Bitcoin Mining Titans Surge in July as MARA, Cipher, and Cango Drive Output Higher

July marked a strong rebound for major Bitcoin miners, with output climbing despite record network difficulty. MARA, Cipher, Cango, and others showcased resilience through strategic energy use and infrastructure expansion.

Bitcoin mining companies demonstrated a notable recovery in July, signaling renewed momentum in the industry. Data from Blockchain.com shows the total network hashrate surged back toward its all-time high, indicating miners are ramping up operations after last month’s challenges.

The increased hashrate also raised network difficulty to a record 127.6 trillion in August 2025. Despite this, miner revenues jumped 105% year-over-year, showing that efficiency improvements and energy management strategies are paying off.

Cipher Mining mined 214 BTC in July, bringing total reserves to 1,219 BTC. Its Q2 2025 results revealed $44 million in revenue and around $30 million in adjusted earnings, largely thanks to the launch of the Black Pearl data center’s first phase, boosting operational capacity to 20.4 EH/s.

CleanSpark delivered 671 BTC in July, surpassing 1 GW of contracted power capacity while holding more than 12,700 BTC in treasury.

Cango made headlines with a 45% month-over-month output increase, reaching 650.5 BTC, and pushing its deployed hashrate to 50 EH/s. The company’s holdings now exceed 4,500 BTC.

Canaan Technology mined 89 BTC, ending July with 1,511 BTC in reserve.

Marathon Digital (MARA) produced 703 BTC in July — just 1% below June’s total — and continues to be one of the sector’s top producers. MARA’s long-term accumulation strategy stands out, as it now holds over 50,000 BTC, positioning itself strongly as Bitcoin’s supply becomes increasingly scarce.

Despite production gains, mined Bitcoin still falls far short of market demand. Bitwise data shows that in 2025, institutions purchased over 545,000 BTC, while total mined supply was only around 97,000 BTC. This growing supply-demand gap increases the strategic importance of miners with large Bitcoin reserves.

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