Canopy Growth stock tumbles after announcing $200 million share sale plan
SINGAPORE - BitFuFu Inc. (NASDAQ:FUFU), a prominent player in Bitcoin mining and mining services with a market capitalization of $730 million, announced its inclusion in the Bitwise Bitcoin Standard Corporations ETF (NYSE Arca:OWNB) as one of the top 10 holdings. The ETF, launched by Bitwise Asset Management on March 11, 2025, is designed to track companies that hold a minimum of 1,000 BTC in their corporate treasuries. According to InvestingPro data, BitFuFu has demonstrated impressive revenue growth of 78% in the last twelve months.
The Bitwise Bitcoin Standard Corporations ETF provides investors with exposure to firms that have strategically incorporated Bitcoin into their financial reserves. BitFuFu, with 1,800 BTC in its treasury as of February 28, 2025, represents 4.03% of the ETF’s assets. InvestingPro analysis shows the company maintains a healthy financial position with a current ratio of 4.09, indicating strong liquidity. Analyst price targets range from $7.00 to $10.27, suggesting potential upside for investors.
Leo Lu, Chairman and CEO of BitFuFu, stated that the company’s inclusion in the ETF validates its commitment to Bitcoin investment and infrastructure development. He emphasized BitFuFu’s role in expanding and securing the Bitcoin network, as well as its focus on innovation in the digital asset infrastructure. The company has maintained profitability with earnings per share of $0.23 and operates with a moderate debt-to-equity ratio of 0.88.Want deeper insights? InvestingPro subscribers have access to over 10 additional exclusive ProTips and comprehensive financial metrics for BitFuFu.
BitFuFu, supported by early investment from BITMAIN, a leading mining hardware manufacturer, continues to be BITMAIN’s strategic partner in the Bitcoin mining and services space. The company aims to provide secure, compliant, and transparent blockchain infrastructure, offering diverse and intelligent mining solutions to customers worldwide.
This news is based on a press release statement and should be considered in light of the inherent risks and uncertainties involved in forward-looking statements. BitFuFu’s actual results may differ materially from those projected due to various factors. The company does not assume any obligation to update the information provided, except as required by law.
In other recent news, BitFuFu Inc. reported a decrease in Bitcoin production for February 2025, producing 219 BTC, which includes 58 BTC from self-mining and 161 BTC for cloud-mining customers. This decline, attributed to miner fleet relocation and expired hashrate purchase orders, contrasts with the company’s growing user base, which surpassed 600,000 registered users on its cloud-mining platform. BitFuFu also completed the acquisition of a majority stake in a 51-megawatt Bitcoin mining facility in Oklahoma, valued at $20.4 million, which is expected to enhance its mining capacity and operational efficiency. The company plans to deploy advanced S21 series miners at this site, aiming to scale its managed hashrate by over 3 EH/s. Analyst Kevin Dede of H.C. Wainwright reaffirmed a Buy rating for BitFuFu with a $7 price target, highlighting the company’s strong position in the Bitcoin cloud mining market. BitFuFu’s strategic partnership with BITMAIN supports its expansion efforts, with plans to purchase up to 80,000 S-series miners in late 2024. Additionally, BitFuFu’s proprietary Aladdin hash monitoring system is noted for reallocating unused hash power, enhancing its mining operations. The company’s leadership is scheduled to attend various industry conferences, indicating ongoing engagement with investors and stakeholders.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.