BitFuFu reports 91.4% rise in Bitcoin production in May

SINGAPORE - BitFuFu Inc. (NASDAQ: FUFU), a prominent player in the Bitcoin mining and cloud mining services sector with a market capitalization of $577.4 million, disclosed its May 2025 operational updates, highlighting a substantial 91.4% month-over-month surge in Bitcoin production to 400 BTC. The company’s total hashrate under management also climbed by 20.5% to 34.1 EH/s, while total power capacity expanded by 15.0% to 651 MW as of May 31, 2025. According to InvestingPro analysis, the stock currently appears undervalued despite a challenging six-month period that saw shares decline by nearly 37%.

The increase in Bitcoin production is attributed to the full month’s contribution from additional hashrate acquired in late April. BitFuFu’s CEO, Leo Lu, remarked on the expansion of hashrate and power capacity to meet the robust demand for cloud mining services. The company’s proactive treasury management strategy led to the sale of 178 BTC at an average price of $104,000 during Bitcoin’s recent all-time high in May, effectively covering operational expenses and enhancing liquidity. The company maintains strong financial health with a current ratio of 4.15 and has achieved impressive revenue growth of 63% over the last twelve months, though InvestingPro data indicates challenges with cash burn rates.

Despite this sale, BitFuFu’s Bitcoin holdings decreased to 1,709 BTC, a drop of 199 BTC from the previous month. The company maintains its long-term conviction in Bitcoin and plans to hold a substantial balance while managing its operations responsibly.

BitFuFu’s hashrate growth is mainly due to the procurement of additional hashrates from suppliers and sustained demand for cloud mining services, with a significant portion derived from S21 series miners. The company’s self-owned hashrate stands at 4.2 EH/s, and hashrate from third-party suppliers and hosting customers at 29.9 EH/s. The average fleet efficiency is reported at 19.1 J/TH.

The company’s mining services have attracted 615,559 registered cloud mining users as of the end of May. BitFuFu is committed to supporting the global Bitcoin network through its cloud mining platform and rapidly scaling infrastructure.

This operational update is based on a press release statement from BitFuFu Inc. and reflects the company’s performance and strategic sales in May 2025. The forward-looking statements included in the press release involve risks and uncertainties and are not guarantees of future performance. For deeper insights into BitFuFu’s financial health and growth prospects, InvestingPro subscribers have access to 10+ additional ProTips and comprehensive analysis through the Pro Research Report, helping investors make more informed decisions about this rapidly evolving crypto mining company.

In other recent news, BitFuFu Inc. reported a substantial increase in revenue for fiscal year 2024, achieving a 63.1% rise to $463.3 million, primarily driven by growth in their cloud-mining solutions. The company also saw its adjusted EBITDA triple to $117.5 million, reflecting significant operational improvements. In April 2025, BitFuFu’s total hashrate under management surged by 37.4% to 28.3 EH/s, attributed to expanded supplier partnerships and increased hash power procurement. The company’s Bitcoin holdings increased to 1,908 BTC by the end of April, with a notable production of 209 BTC during the month.

H.C. Wainwright maintained a Buy rating on BitFuFu with a $7 price target, citing the company’s impressive April bitcoin mining report and strategic equipment acquisitions. The analyst highlighted BitFuFu’s network hash rate jump to 28.3 EH/s, supported by power acquisitions and supplier agreements, including a major deal with Bitmain. BitFuFu’s recent execution and a positive outlook on the cryptocurrency sector were key factors in maintaining the Buy rating.

Additionally, BitFuFu announced plans to engage with the Bitcoin and investor communities at upcoming conferences, including the Bitcoin 2025 conference in Las Vegas. The company’s strategic initiatives, such as cost reductions and relocations, have bolstered profitability. BitFuFu’s CEO, Leo Lu, expressed optimism about the firm’s progress and future engagements, emphasizing the company’s focus on expanding its cloud mining platform and data center infrastructure.

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