June was a challenging month for Bitcoin mining operations across Texas. With the start of the Four Coincident Peak (4CP) season, major firms like Riot Platforms, Cipher Mining, and MARA Holdings scaled back operations to avoid hefty electricity demand charges. The result? A noticeable drop in BTC production across the board — though one firm bucked the trend.
🏭 Riot Platforms: Production Drops 12%
Riot Platforms reported producing 450 BTC in June, down 12% from May’s 514 BTC. The company’s CEO, Jason Les, emphasized that Riot’s participation in ERCOT’s 4CP program and other demand response strategies is part of a larger economic strategy.
“This contributes to grid stability while enhancing our competitive positioning,” Les stated.
Riot also sold 397 BTC for $41.7 million and now holds 19,273 BTC in reserves.
⚡ Understanding 4CP: Why Texas Miners Are Curtailing Power
ERCOT’s Four Coincident Peak program is designed to manage electricity grid stress during summer’s hottest months — June through September. By voluntarily curtailing power usage during peak demand hours, large consumers like Bitcoin miners can avoid significant transmission fees.
🏗️ Cipher Mining: Strategic Curtailment Keeps Costs Low
Cipher Mining produced 160 BTC in June, selling 58 BTC and retaining 1,063 BTC. The company confirmed its production was deliberately reduced due to its proactive 4CP avoidance strategy.
While Cipher’s new Black Pearl facility in Texas came online late in the month, its benefits were muted by these strategic reductions. The upside? Cipher remains one of the lowest-cost operators in the industry.
🌩️ MARA Holdings: Weather Woes Cut Output by 25%
MARA saw an even sharper 25% drop in output, producing 211 BTC in June versus 282 BTC in May. CEO Fred Thiel attributed the slump to:
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Power curtailment due to extreme Texas weather
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Repairs following storm damage at their Garden City site
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Lower “block luck” due to running their own mining pool
Despite the decline, MARA still holds a massive 49,940 BTC and did not sell any Bitcoin during the month.
🚀 CleanSpark: The Lone Bright Spot
While others curtailed, CleanSpark increased its production by 6.7%, mining 445 BTC in June and exceeding its mid-year hashrate target of 20 EH/s. CleanSpark sold only 8 BTC, raising its total holdings to 6,591 BTC.
💡 What This Means for Bitcoin Mining
As Texas heat peaks, miners are balancing production with grid-friendly strategies that reduce costs in the long term. While short-term output may dip, firms like Riot and Cipher are proving that smart curtailment can protect profitability.
Meanwhile, CleanSpark’s gains suggest that with robust infrastructure, growth is still possible — even during the most power-sensitive months.
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