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SINGAPORE - BitFuFu Inc. (NASDAQ:FUFU), a prominent player in the Bitcoin mining sector with a market capitalization of $676 million, disclosed its unaudited production and operational updates for March 2025, showing an uptick in its Bitcoin holdings and mining capacity. The company reported holding 1,847 Bitcoins as of March 31, 2025, marking an increase of 47 BTC from February 2025. According to InvestingPro analysis, the stock appears undervalued despite recent strong operational performance, though it has experienced a 9% decline over the past week.
The company's Bitcoin production in March included 58 BTC from self-mining and 176 BTC for its cloud-mining customers, with the latter representing a 9% increase from the previous month. Additionally, BitFuFu announced that most of the 2,000 S21 XP miners and 4,000 S21+ miners ordered in late 2024 have been energized within their U.S. datacenters, contributing to a self-owned mining capacity increase of 1.1EH/s. The company maintains a strong financial position with a healthy current ratio of 4.18, indicating robust liquidity to support its expansion plans.
Overall, BitFuFu's total hashrate under management reached 20.6 EH/s, with 4.2EH/s self-owned, a significant 35% rise compared to the previous month. The company's cloud-mining and co-hosting capacities stand at 16.4 EH/s. Power under management for hosting services reached 478 MW. This operational growth has contributed to impressive revenue growth of 63% in the last twelve months, though InvestingPro data shows the company faces challenges with relatively low gross profit margins of 11.75%.
The increase in mining capacity was highlighted by Leo Lu, Chairman and CEO of BitFuFu, who emphasized the company's efficiency and strategic integration in the face of market volatility and global macroeconomic risks. Lu also noted Bitcoin's growing recognition as a resilient store of value. For deeper insights into BitFuFu's financial health and growth prospects, investors can access comprehensive analysis through InvestingPro's detailed research reports, which cover over 1,400 US stocks.
BitFuFu's cloud-mining service continues to grow, with registered users reaching 607,377 by the end of March. Looking ahead, the company is set to participate in several industry events, including the Jefferies Power x Coin Virtual Conference on April 16, 2025, and the Bitcoin 2025 conference in Las Vegas from May 27-29, 2025.
This information is based on a press release statement from BitFuFu, which also contains forward-looking statements under the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. The company cautions that these forward-looking statements are subject to risks, uncertainties, and assumptions and may differ materially from actual future performance.
In other recent news, BitFuFu Inc. reported significant financial growth for the fiscal year 2024, with total revenue reaching $463.3 million, marking a 63.1% increase from the previous year. The company's adjusted EBITDA also tripled to $117.5 million, highlighting operational efficiency. A major contributor to this growth was the cloud mining segment, which accounted for 59% of total revenue. The company also achieved a net income of $54 million and improved its gross profit margin to 6.6% from 4.5% in 2023.
In a strategic move, BitFuFu formed a partnership with Bitmain to purchase up to 80,000 S21 miners, allowing flexible payment terms. Additionally, BitFuFu expanded its services by launching BitFuFu OS, a software platform designed to optimize mining operations. Analyst firm H.C. Wainwright maintained a Buy rating on BitFuFu with a $7 price target, citing confidence in the company's strategic initiatives and financial trajectory. These developments underscore BitFuFu's strong performance and strategic efforts in the Bitcoin mining industry.
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