Welcome to our dedicated page for BITFUFU news (Ticker: FUFU), a resource for investors and traders seeking the latest updates and insights on BITFUFU stock.
BitFuFu Inc. (NASDAQ: FUFU) is a Bitcoin miner and mining services innovator that regularly publishes detailed operational and financial updates. On this news page, readers can follow the company’s announcements on Bitcoin production, hashrate under management, power capacity, and the performance of its cloud mining and self-mining operations.
BitFuFu issues monthly production and operational updates that break down Bitcoin held, Bitcoin produced from cloud mining and self-mining, total hashrate under management, self-owned hashrate, hashrate from third-party suppliers and hosting customers, average fleet efficiency, and total power capacity under management. These releases also highlight trends in its registered cloud mining user base and any changes in pledged Bitcoin balances.
The company also releases quarterly financial results, including segment revenue from cloud mining solutions, self-mining operations, mining equipment sales, and other revenue. These earnings announcements discuss profitability metrics, digital asset gains or losses, liquidity, and the impact of Bitcoin price movements and network difficulty on the business.
In addition to production and earnings news, BitFuFu announces sponsorships and participation in major Bitcoin and blockchain conferences in regions such as the United States and the Middle East. These items describe how the company presents its one-stop mining platform, hosted mining offerings, and broader strategy for supporting Bitcoin infrastructure.
Investors and observers can use this page to monitor BitFuFu’s ongoing disclosures about its Bitcoin mining operations, customer-facing mining services, and corporate activities, all drawn from its official press releases and related communications.
BitFuFu (NASDAQ: FUFU) announced its December 2024 production and mining operations update. Key highlights include:
Bitcoin Production: Produced 111 BTC from self-mining, a 32% increase from November 2024. Bitcoin Holdings: Held 1,720 BTC as of December 31, 2024. Cloud Mining Platform: Surpassed 590,000 registered users.
Strategic Expansion: Signed a two-year framework purchase agreement with BITMAIN for up to 80,000 S-series miners. The company's total hashrate under management reached 23.5EH/s, with 3.1EH/s from self-owned miners and 20.4EH/s from cloud-mining and co-hosting operations.
Power and Facilities: Managed 551 MW hosting capacity, including 80 MW in Ethiopia and 33 MW in the U.S. at competitive electricity costs. Aiming for 1GW secured capacity by end of 2026.
New Services: Launched BitFuFuPool, a private-label mining pool service, in December 2024.
BitFuFu (NASDAQ: FUFU) has signed a two-year framework agreement with BITMAIN to purchase up to 80,000 S-series miners, including S21 XP and S21 Pro models. The agreement allows BitFuFu to place orders in batches over two years, with miners being used for self-mining operations and customer services including resales, cloud mining, and hosting.
The deal includes flexible payment terms, allowing BitFuFu to pay partially in company shares and defer cash payments interest-free after miner delivery. This strategic partnership aims to support BitFuFu's expansion plans, targeting 1 GW in capacity addition by the end of 2026.
BitFuFu (NASDAQ: FUFU) announced reaching over 520,000 registered cloud-mining users, marking significant growth since launching its cloud-mining website in December 2020 and mobile APP in October 2021. The company has achieved a 67% compound annual growth rate in user registration, attracting users from over 150 countries, primarily from Asia-Pacific and Europe. In November 2024, BitFuFu enhanced its platform by revamping both its website and mobile app to improve user experience. The company positions itself as a global leader in Bitcoin mining and comprehensive mining services, focusing on making digital asset mining more accessible and efficient.
BitFuFu (NASDAQ: FUFU) has signed 10-year exclusive lease agreements for two Bitcoin mining facilities in the U.S., with a combined capacity of 33 megawatts (MW). The facilities, with 22 MW and 11 MW capacity respectively, can potentially add 2EH/s of mining capacity with power costs averaging as low as $0.042 per kilowatt-hour. The agreements include options to acquire majority stakes in both facilities.
This move represents BitFuFu's strategic shift from an asset-light to a more diversified infrastructure management approach. The company aims to add 1 GW of capacity by the end of 2026, with over 110 MW now under company control. BitFuFu has already operated at these facilities for approximately one year, confirming their operational stability and cost-effectiveness.
BitFuFu (NASDAQ: FUFU) released its November 2024 production and mining operations update, reporting 84 BTC produced from self-mining operations and holdings of 1,643 BTC. The company expanded its mining fleet by 13,300 miners, adding 2.4EH/s in capacity, including 7,300 S19 XP miners already energized and additional S21 XP and S21+ miners ordered.
The company maintains a strong financial position with $98 million in net cash and secured a $100 million credit line from Antpool Technologies at 6.5% annual interest, of which $25 million has been drawn. BitFuFu is evaluating 700 MW of potential projects and targets adding 1 GW capacity by end of 2026.
BitFuFu (NASDAQ: FUFU) has announced the launch of BitFuFu Pool, a private-label mining pool offering competitive commission rates starting at 0.4%. The pool will be accessible to BitFuFu app users purchasing cloud-mining products and miner services, with promotional benefits included.
Initially focused on Bitcoin mining, BitFuFu Pool plans to expand to other digital assets in the future. The company has co-invested in this venture with strategic partners and will collaborate on operations. BitFuFu's self-mining operation has begun directing hashrate to the pool, with plans to allocate 100% of its growing self-mining hashrate to it.
The platform offers comprehensive services including real-time monitoring tools, firmware solutions, maintenance services, and one-click-order solutions for both institutional and retail customers.
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.
BitFuFu (NASDAQ: FUFU), a global Bitcoin mining services provider, has launched an upgraded website and mobile app to enhance its one-click mining platform. The improvements include a streamlined user interface, faster navigation, and expanded payment options. Users can now pay service fees using FuFu loyalty points or choose from multiple digital assets including BTC, USDT, and ETH. The company is also promoting its Miner Co-Hosting product, which enables users to purchase and co-host miners at BitFuFu's mining farm, earning profits while retaining miner ownership after the hosting period.
BitFuFu (NASDAQ: FUFU), a global Bitcoin mining and mining services leader, announced its participation in the first B. Riley Securities Energy Convergence Conference on December 4, 2024, in New York City. Charley Brady, VP of Investor Relations, will meet with institutional investors to discuss the company's Q3 2024 financial results, their recent acquisition of an 80MW mining facility in Ethiopia, and long-term strategic plans. The conference focuses on Mining, Nuclear and Infrastructure sectors and will be held at the Hotel Eventi.
BitFuFu (NASDAQ: FUFU), a digital asset mining and cloud-mining service provider, announced changes to its Board of Directors. Mr. Cheng Yao has resigned from the Board effective November 14, 2024. The resignation was not due to any disagreement regarding company operations, policies, or practices. Following this change, the Board now consists of five directors: Leo Lu, Celine Lu, Huaiyu Liu, Yeeli Hua Zheng, and Joshua Kewei Cui.