TSX runs higher on rate cut expectations
SINGAPORE - BitFuFu Inc. (NASDAQ: FUFU), a prominent player in the Bitcoin mining sector with a market capitalization of $810 million, disclosed its unaudited production and operations update for February 2025. According to InvestingPro analysis, the company currently trades near its Fair Value, with a P/E ratio of 21x. The company reported holding 1,800 Bitcoins as of February 28, 2025, and producing a total of 219 BTC during the month, which includes 58 BTC from its self-mining operations and 161 BTC for its cloud-mining customers.
The firm experienced a decline in Bitcoin production compared to the previous month, with self-mining production down by 30% and cloud-mining production down by 19.5%. This decrease was attributed to miner fleet relocation and the expiration of certain hashrate purchase orders.
Despite the production dip, BitFuFu’s registered user base on its cloud-mining platform grew, surpassing 600,000 users, reflecting the company’s impressive 78% year-over-year revenue growth. Additionally, BitFuFu completed the acquisition of majority ownership in a 51MW Bitcoin mining facility in Oklahoma, planning to deploy S21 series miners and complete energization in early March. InvestingPro data reveals the company maintains a healthy current ratio of 4.09, though analysts note it’s currently burning through cash rapidly.
BitFuFu’s total hashrate under management is 20.6 EH/s, with 3.1 EH/s self-owned and 17.5 EH/s managed through cloud-mining and co-hosting services. The company’s power under management currently stands at 480 MW, including three operational facilities. Following the Oklahoma acquisition, BitFuFu aims to reach 1GW of secured power capacity by 2026.
The company’s mining services also saw growth, with its mining pool, BitFuFuPool, and proprietary miner software, BitFuFuOS, expanding their client base. With an EBITDA of $50.5 million in the last twelve months and moderate debt levels, the company shows promising operational metrics. BitFuFu’s leadership will be present at upcoming industry conferences, including the 37th Annual ROTH Conference in Dana Point, California, and FUTU Expo 2025 in Hong Kong. Subscribers to InvestingPro can access 8 additional key insights about BitFuFu’s financial health and growth prospects.
This update is based on a press release statement from BitFuFu Inc. and provides a snapshot of the company’s recent mining activities and strategic developments.
In other recent news, BitFuFu Inc. has reported significant developments in its operations and strategic initiatives. The company announced its January 2025 Bitcoin production figures, with 83 Bitcoins mined through self-mining operations and 200 Bitcoins for cloud-mining customers. BitFuFu’s total Bitcoin holdings reached 1,742 BTC as of January 31, 2025. In a move to enhance its mining capacity, the company has procured 2,000 S21XP miners, set to become operational in March 2025, adding 0.54EH/s to its capacity. Additionally, BitFuFu has acquired a majority stake in a 51-megawatt Bitcoin mining data center in Oklahoma for $20.4 million, leveraging the facility’s low electricity costs and high efficiency. This acquisition aligns with BitFuFu’s broader expansion strategy, which includes plans to scale its managed hashrate by over 3EH/s. Analyst Kevin Dede from H.C. Wainwright has maintained a Buy rating on BitFuFu, citing the company’s strong position in the cryptocurrency sector and its innovative Aladdin hash monitoring system. BitFuFu’s user base has also seen rapid growth, surpassing 600,000 registrations on its Cloud Mining platform, an increase of 100,000 users in under three months.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.