BitFuFu Announces May 2025 Bitcoin Mining and Operation Updates, Highlighting Record Hashrate of 34.1 EH/s

Rhea-AI Summary

BitFuFu (NASDAQ: FUFU) reported strong operational growth in May 2025, with Bitcoin production surging 91.4% month-over-month to 400 BTC. The company achieved record hashrate of 34.1 EH/s, up 20.5% from April, and increased total power capacity by 15% to 651 MW across five continents. Of the 400 BTC mined, 357 came from cloud mining and 43 from self-mining operations. The company strategically sold 178 BTC at an average price of $104,000 during May's all-time high, maintaining 1,709 BTC holdings. BitFuFu's infrastructure includes 4.2 EH/s of self-owned hashrate and 29.9 EH/s from third-party suppliers and hosting customers, with an average fleet efficiency of 19.1 J/TH. The company serves 615,559 registered cloud mining users and continues to expand its operations with S21 series miners.

Positive

• Bitcoin production increased significantly by 91.4% month-over-month to 400 BTC
• Record hashrate achieved at 34.1 EH/s, representing a 20.5% monthly increase
• Strategic sale of 178 BTC at favorable price of $104,000 during market peak
• Power capacity expanded by 15% to 651 MW across five continents
• Large cloud mining user base of 615,559 registered users

Negative

• Bitcoin holdings decreased by 199 BTC from April due to treasury sales
• Majority of hashrate (29.9 EH/s) depends on third-party suppliers rather than self-owned infrastructure (4.2 EH/s)
• 689 BTC of holdings are pledged for loans and miner procurement payables

Insights

Bitcoin Mining Analyst

BitFuFu posted record 91.4% BTC production growth, 20.5% hashrate increase, and strategic BTC sales at $104K, positioning for continued growth.

BitFuFu has achieved significant operational scaling in May 2025, with their Bitcoin production jumping 91.4% month-over-month to 400 BTC. This dramatic increase stems directly from the full-month contribution of hashrate purchases made in late April, demonstrating the immediate production impact of their capacity investments.

The company's total hashrate reached a record 34.1 EH/s, representing a 20.5% month-over-month increase. This expansion was primarily achieved through S21 series miners, which are among the industry's more efficient machines at 19.1 J/TH average fleet efficiency. While impressive, this efficiency level suggests BitFuFu operates a mix of newer and legacy equipment rather than exclusively latest-generation hardware.

Power capacity increases of 15% to 651 MW across five continents indicate BitFuFu is diversifying its geographical risk profile while scaling operations. The gap between hashrate growth (20.5%) and power growth (15%) reflects improving energy efficiency in their expanding operations.

The company's business model heavily favors cloud mining, with 357 of the 400 BTC produced (approximately 89%) coming from cloud mining customers versus self-mining. This aligns with their massive user base of 615,559 registered cloud mining users.

From a treasury perspective, BitFuFu made a strategic decision to sell 178 BTC at an average price of $104,000 during May's all-time high after holding for four months. This opportunistic selling demonstrates disciplined treasury management, generating substantial capital while still maintaining a significant 1,709 BTC position. However, it's worth noting that 40% of their holdings (689 BTC) are pledged as collateral for loans and procurement payables, limiting true liquidity.

The company is positioning for continued production growth in June as newly acquired hashrate deployed in late May will contribute for the full month, suggesting a potential acceleration in Bitcoin production beyond May's already substantial increase.

• Bitcoin production increased 91.4% month-over-month to 400 BTC.
• Total hashrate under management increased 20.5% month-over-month to 34.1 EH/s as of May 31, 2025.
• Total power capacity under management increased 15.0% month-over-month to 651 MW across five continents as of May 31, 2025.
  

SINGAPORE, June 04, 2025 (GLOBE NEWSWIRE) -- BitFuFu Inc. (“BitFuFu” or the “Company”) (NASDAQ: FUFU), a world-leading Bitcoin miner and mining services innovator, today announced its unaudited production and mining operation updates for May 2025.

“To meet the continued strong demand for cloud mining services, in May we further expanded our hashrate and power capacity to record levels of 34.1 EH/s and 651 MW, respectively,” said Leo Lu, Chairman and CEO of BitFuFu.

“In May 2025 alone, BitFuFu mined 400 BTC, including 357 BTC mined by our cloud-mining customers. The significant increase in Bitcoin production in May, up 91.4% month-over-month, directly reflects a full month's contribution from the additional hashrate purchased in late April. Similarly, the new hashrate acquired at the end of May is expected to position the Company for another strong increase in Bitcoin production in June, as Bitcoin productions benefit from this expanded capacity throughout the entire month.”

Lu continued, “Consistent with our disciplined treasury management strategy, after suspending Bitcoin sales for almost four months, we opportunistically sold 178 BTC at an average price of $104,000 during the recent all-time high in May. These strategic sales enabled us to capitalize on favorable market conditions, efficiently cover operational expenses, and strengthen our liquidity. Our long‑term conviction in Bitcoin is unchanged, and we will continue to hold a substantial balance while managing the business responsibly.”

May 2025 Highlights (as of May 31, 2025)

Bitcoin Holdings and Production

• Bitcoin Held: 1,709 BTC¹, a decrease of 199 BTC from April 30, 2025, due to proactive treasury sales.
• Bitcoin Production: 400 BTC in May 2025, a 91.4% month-over-month increase, including 357 BTC from cloud mining and 43 BTC from self-mining.

Hashrate Overview

• Total Hashrate Under Management: 34.1 EH/s, a 20.5% month-over-month increase, attributable to the increase in procured hashrate from suppliers and strong demand for cloud mining services. The majority of the added procured hashrate was generated from S21 series miners.
  • Self-Owned Hashrate²: 4.2 EH/s.
  • Hashrate from Third-Party Suppliers and Hosting Customers²: 29.9 EH/s.
  • Average Fleet Efficiency: 19.1 J/TH.

Power and Infrastructure

• Total Power Capacity Under Management: 651 MW across five continents, a 15.0% month-over-month increase.
  

Mining Services

• Cloud Mining Users: 615,559 registered users as of May 31, 2025.

About BitFuFu Inc.

BitFuFu Inc. is a world-leading Bitcoin miner and mining services innovator. BitFuFu is committed to empowering the global Bitcoin network through its industry-leading cloud mining platform, rapidly scaling infrastructure, and innovative mining services.

For more information, visit ir.bitfufu.com or follow BitFuFu on X @BitFuFuOfficial.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of BitFuFu’s management and are not predictions of actual performance. These statements involve risks, uncertainties and other factors that may cause BitFuFu’s actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by these forward-looking statements. Although the Company believes that it has a reasonable basis for each forward-looking statement contained in this press release, the Company cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. All information provided in this press release is as of the date of this press release and the Company does not undertake any duty to update such information, except as required under applicable law.

For investor inquiries, please contact:
BitFuFu Investor Relations: ir@bitfufu.com
Charley Brady, Vice President of Investor Relations: charley.b@bitfufu.com

For general inquiries, please contact:
BitFuFu Media Relations: pr@bitfufu.com

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¹ Includes 689 BTC pledged for loans and miner procurement payables and excludes BTC produced by cloud mining customers
² Hashrate may be used for both self-mining and cloud-mining

FAQ

What was BitFuFu's (FUFU) Bitcoin production in May 2025?

BitFuFu produced 400 BTC in May 2025, representing a 91.4% increase from April, with 357 BTC from cloud mining and 43 BTC from self-mining operations.

How many Bitcoin does BitFuFu (FUFU) currently hold?

As of May 31, 2025, BitFuFu held 1,709 BTC, including 689 BTC pledged for loans and miner procurement payables.

What is BitFuFu's (FUFU) current mining hashrate?

BitFuFu's total hashrate under management reached 34.1 EH/s as of May 31, 2025, consisting of 4.2 EH/s self-owned hashrate and 29.9 EH/s from third-party suppliers.

How much Bitcoin did BitFuFu (FUFU) sell in May 2025?

BitFuFu sold 178 BTC at an average price of $104,000 during May 2025's all-time high after suspending sales for almost four months.

What is BitFuFu's (FUFU) total power capacity?

BitFuFu's total power capacity under management is 651 MW across five continents, representing a 15.0% increase from April 2025.