BitFuFu Reports Company Owns 1,664 BTC, Highlighting Leadership in Bitcoin Self-Mining and Cloud-Mining Solutions
Rhea-AI Summary
BitFuFu (NASDAQ: FUFU) has announced ownership of 1,664 BTC, highlighting its position as a major player in both Bitcoin self-mining and cloud mining services. The company emphasizes its unique capability to produce Bitcoin while generating upfront cash flow through its customer platform. BitFuFu's business model allows for flexible hashrate allocation between self-mining and cloud-mining operations, enabling adaptation to market conditions. The company maintains a strategic partnership with BITMAIN, providing access to latest ASIC miners and ensuring optimal mining efficiency.
Positive
- Holds substantial crypto assets with 1,664 BTC in treasury
- Dual revenue streams from self-mining and cloud mining services
- Strategic partnership with BITMAIN ensuring access to latest mining equipment
- Flexible business model allowing adaptation to market conditions
Negative
- None.
News Market Reaction
On the day this news was published, FUFU declined 5.36%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SINGAPORE, Dec. 05, 2024 (GLOBE NEWSWIRE) -- BitFuFu Inc. (“BitFuFu” or the “Company”) (NASDAQ: FUFU), a global leader in Bitcoin mining and comprehensive mining services, today announced the Company owns 1,664 BTC as of today, underscoring the Company’s disciplined treasury management strategy.
“The market seems to neglect the fact that BitFuFu is a major global Bitcoin self-mining player in addition to its leading cloud mining and hosting hashrate scale. BitFuFu has unique capability to produce BTC for its own account and increase its BTC holdings while also generating upfront cash flow by providing customers with a platform to easily mine Bitcoin without the inherent complexity and upfront expense of mining on their own.” said Leo Lu, BitFuFu’s Chairman and CEO. “We have been refining our BTC treasury strategy and have a dedicated team managing our BTC assets. Our ability to dynamically shift our available hashrate between self-mining and cloud-mining provides BitFuFu with the flexibility to reap the benefits of a bull market and reduce revenue volatility during a bear market. Moreover, our strong strategic partnership with BITMAIN provides us with unparalleled access to the latest ASIC miners and maintain best-in-class miner efficiency.”
About BitFuFu Inc.
BitFuFu Inc. is a global leader in Bitcoin mining and comprehensive mining services, providing customers with one-stop solutions including Cloud mining. BitFuFu received early investment from BITMAIN, a world-leading digital asset mining hardware manufacturer, and remains BITMAIN’s sole strategic partner in Bitcoin mining and mining services space.
BitFuFu is dedicated to fostering a secure, compliant, and transparent blockchain infrastructure, providing a variety of stable and intelligent digital asset mining solutions to a global customer base. Leveraging its expanding global mining facility network and strategic partnership with BITMAIN, BitFuFu enables institutional customers and digital asset enthusiasts to mine digital assets efficiently.
For more information, please visit https://ir.bitfufu.com/.
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 and media inquiries, please contact:
BitFuFu Investor Relations
Charley Brady
Vice President, Investor Relations
ir@bitfufu.com
BitFuFu Media Relationspr@bitfufu.com
FAQ
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