BitFuFu Announces November 2025 Bitcoin Production and Operational Updates

Rhea-AI Summary

BitFuFu (NASDAQ: FUFU) released unaudited November 2025 production and operational updates reporting a temporary operational contraction during an equipment upgrade and conservative hashrate procurement approach.

Key metrics as of November 30, 2025: Bitcoin held 1,764 BTC (down 189 BTC month-over-month); Bitcoin production 231 BTC (190 BTC cloud mining, 41 BTC self-mining); total hashrate under management 26.4 EH/s (down 13.4% MoM); self-owned hashrate 3.7 EH/s (down 1.3 EH/s); average fleet efficiency 18.1 J/TH; power capacity 478 MW (down 13.9% MoM).

The company sold 205 BTC at an average $107,000 in November to fund supplier obligations and is replacing legacy S19 miners with S21 models while limiting third-party high-cost hash purchases. Upcoming conference appearances are listed for December 2025.

Positive

• Sold 205 BTC at an average price of $107,000
• Bitcoin production of 231 BTC in November 2025
• Replacing S19 miners with next-generation S21 models

Negative

• Total hashrate under management down 13.4% MoM
• Total power capacity under management down 13.9% MoM
• Self-owned hashrate decreased by 1.3 EH/s from Oct 31, 2025
• Bitcoin holdings down 189 BTC from Oct 31, 2025

Key Figures

BTC sold in November 205 BTC Opportunistic sales to fund supplier obligations

Average BTC sale price $107,000 Average price for 205 BTC sold in November 2025

Bitcoin held 1,764 BTC Balance as of November 30, 2025

Bitcoin production 231 BTC November 2025 total (190 BTC cloud, 41 BTC self-mining)

Total hashrate 26.4 EH/s Total hashrate under management, November 30, 2025

Self-owned hashrate 3.7 EH/s After selling some S19 XP miners for upgrades

Power capacity 478 MW Total power capacity under management, November 30, 2025

Cloud mining users 648,221 users Registered users as of November 30, 2025

Market Reality Check

$2.98 Last Close

Volume Volume 48,142 is well below the 20-day average of 402,322 (relative volume 0.12). low

Technical Shares trade below the 200-day MA of 3.79 with a current price of 2.985, near the 52-week low of 2.56 and 50.66% under the 52-week high of 6.05.

Peers on Argus 1 Up

Among peers, CNCK showed notable upside momentum, appearing in scanners with a 10.88% move up, while other listed peers had more moderate gains. With FUFU’s direction not specified and only one peer in momentum, trading appears more stock-specific than part of a broad sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 12	Q3 2025 earnings	Positive	-8.5%	Strong Q3 growth in revenue, profitability, hashrate, and BTC holdings.
Nov 06	Conference sponsorship	Neutral	-5.9%	Sponsorship and participation at Mining Disrupt 2025 industry conference.
Nov 05	October crypto update	Neutral	+11.7%	October BTC production, hashrate metrics, and new miner purchase program.
Nov 04	Earnings call notice	Neutral	-4.2%	Announcement of Q3 2025 earnings release date and conference call.
Oct 27	Product launch	Positive	-0.6%	Launch of ANTMINER S21+ Hyd. hosted mining offering with detailed terms.

Pattern Detected

Recent fundamentally positive updates, including strong Q3 earnings and operational growth, were followed by negative or muted price reactions, while some routine crypto operations updates saw positive moves, indicating occasional divergence between fundamentals and short-term trading.

Recent Company History

Over the last several months, BitFuFu reported strong growth, with Q3 2025 revenue at $180.7M and net income of $11.6M, alongside rising hashrate to 36.0 EH/s and BTC holdings of 1,962 BTC by September 30. Monthly crypto updates showed fluctuating production and hashrate, with October total hashrate at 30.5 EH/s and power capacity at 555 MW. Despite positive operational headlines and product launches, some events, such as Q3 earnings, coincided with negative price reactions, highlighting a mixed history between news quality and short-term performance.

Regulatory & Risk Context

Active S-3 Shelf Registration 2025-11-07

A Form F-3 filed on 2025-11-07 registers the resale of up to 1,008,000 Class A Ordinary Shares by a selling shareholder. The company states it is not selling securities under this prospectus and will not receive proceeds, though the registration could facilitate future secondary share liquidity. The shelf is noted as not yet effective and has not been used, with 0 recorded usages.

Market Pulse Summary

This announcement details November 2025 operations, including 231 BTC produced, total hashrate under management of 26.4 EH/s, and 1,764 BTC held after selling 205 BTC at an average of $107,000. The company continues upgrading from S19 to S21 miners, with power capacity at 478 MW and 648,221 registered cloud-mining users. Investors may watch future disclosures on hashrate, fleet efficiency, BTC treasury levels, and any use of the registered resale capacity for additional context.

Key Terms

hashrate technical

"created a temporary dip in total hashrate under management, but our upgrade"

Hashrate is a measure of how quickly a computer network can process and verify transactions, often expressed as the number of calculations it can perform in a second. Think of it like the engine power of a car; the higher the hashrate, the more work the network can do in a given time. For investors, a higher hashrate generally indicates a more secure and robust network, which can influence confidence and the value of related digital assets.

cloud mining technical

"Bitcoin Production: 231 BTC, including 190 BTC from cloud mining and 41 BTC"

Cloud mining is a way to obtain digital currency by renting powerful computers over the internet, rather than setting up and maintaining the equipment yourself. It allows investors to participate in cryptocurrency mining without dealing with the technical details or high upfront costs. This approach makes it easier for more people to get involved in mining and potentially earn rewards from digital currencies.

self-mining technical

"including 190 BTC from cloud mining and 41 BTC from self-mining. Hashrate"

Self-mining is when a person or company uses its own equipment and resources to create new cryptocurrency coins rather than buying them or hiring someone else to mine. For investors, it matters because self-mining turns computing power into an ongoing source of revenue and digital assets, like owning a small factory instead of just selling its products; it affects costs, cash flow, asset holdings and exposure to energy and regulatory risks.

fleet efficiency technical

"Hashrate from Third-Party Suppliers and Hosting Customers2: 22.7 EH/s. Average Fleet Efficiency: 18.1 J/TH."

Fleet efficiency measures how effectively a group of vehicles or equipment uses resources like fuel, time, and maintenance to complete their tasks. Higher fleet efficiency means more work is done with less waste, saving money and reducing environmental impact. For investors, improved fleet efficiency can signal better management and potential profitability, making it an important indicator of operational performance.

btc financial

"sold 205 BTC in November 2025 at an average price of $107,000 to fund"

BTC is the common ticker and shorthand for Bitcoin, a digital currency that exists on a decentralized computer network instead of being issued by a government or bank. Investors care about BTC because its market price signals demand for that asset, can swing sharply like a volatile commodity, and can influence portfolio risk, market sentiment, and companies with exposure to cryptocurrencies—similar to how oil prices affect energy markets.

AI-generated analysis. Not financial advice.

SINGAPORE, Dec. 05, 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 operational updates for November 2025.

“Over the past month we accelerated sales of legacy S19 series miners and are replacing them with next-generation S21 miners. The transition created a temporary dip in total hashrate under management, but our upgrade plan is on track and positions us to mine more efficiently going forward,” said Leo Lu, Chairman and CEO of BitFuFu.

“In parallel, we have taken a deliberately conservative approach to third-party hash-rate purchases, avoiding higher-cost commitments while Bitcoin prices are under pressure. Our priority is to remain profitable across bull and bear markets, and we continue to see a very compelling long-term outlook for Bitcoin. We are also advancing opportunities to expand our hash-rate footprint globally, which we believe can further diversify our cost base and support future growth.”

November 2025 Highlights (as of November 30, 2025)

Bitcoin Holdings and Production:
Consistent with its disciplined treasury practices, the Company opportunistically sold 205 BTC in November 2025 at an average price of $107,000 to fund supplier obligations and prudently manage risk amid temporary market volatility.

• Bitcoin Held: 1,764 BTC¹, a decrease of 189 BTC from October 31, 2025.
• Bitcoin Production: 231 BTC, including 190 BTC from cloud mining and 41 BTC from self-mining.

Hashrate Overview:

• Total Hashrate Under Management: 26.4 EH/s, a 13.4 % month-over-month decrease, as a result of slowing down hashrate procurement in order to control risks during the period of BTC price volatility.
  • Self-Owned Hashrate²: 3.7 EH/s, a decrease of 1.3 EH/s from October 31, 2025, as a result of an ongoing upgrade of self-owned mining machines, where some S19 XP miners were sold and will be replaced with new-generation models in the near term.
  • Hashrate from Third-Party Suppliers and Hosting Customers²: 22.7 EH/s.
• Average Fleet Efficiency: 18.1 J/TH.

Power and Infrastructure:

• Total Power Capacity Under Management: 478 MW, a 13.9% month-over-month decrease.
  

Mining Services:

• Cloud Mining Users: 648,221 registered users as of November 30, 2025.
  

Upcoming Conferences:
BitFuFu will be attending the following upcoming conferences.

• December 4, 2025: B. Riley Convergence Conference, NYC.
• December 8-9, 2025: Bitcoin MENA 2025, Abu Dhabi.
• December 11, 2025: Emerging Markets Conference, Virtual.
  

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.

Investor Contact:
BitFuFu Investor Relations
ir@bitfufu.com

Charley Brady
Vice President, Investor Relations:
charley.b@bitfufu.com

Media Contact:
BitFuFu Media Relations
pr@bitfufu.com

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¹ Includes 620 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

How many BTC did BitFuFu (FUFU) sell in November 2025 and at what price?

BitFuFu sold 205 BTC in November 2025 at an average price of $107,000.

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

BitFuFu produced 231 BTC in November 2025, including 190 BTC from cloud mining and 41 BTC from self-mining.

Why did BitFuFu's hashrate under management (FUFU) fall in November 2025?

Total hashrate fell 13.4% MoM due to slowed hashrate procurement and an upgrade of self-owned machines to S21 models.

What is BitFuFu's self-owned hashrate and how did it change in November 2025?

Self-owned hashrate was 3.7 EH/s, down by 1.3 EH/s from October 31, 2025.

How much power capacity did BitFuFu (FUFU) manage in November 2025?

Total power capacity under management was 478 MW, a 13.9% decrease month-over-month.

Is BitFuFu attending investor conferences in December 2025 and which ones?

Yes. BitFuFu listed attendance at Dec 4, 2025 B. Riley Convergence (NYC), Dec 8-9, 2025 Bitcoin MENA (Abu Dhabi), and Dec 11, 2025 Emerging Markets Conference (Virtual).