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) has secured a two-year Master Loan Agreement with Antpool Technologies for a credit line of up to $100 million. The funds will be used for general corporate purposes, including potential M&A opportunities and hosting fees to maintain Bitcoin holdings. The agreement features a 6.5% annual interest rate and requires Bitcoin collateral with a 70% loan-to-value ratio. The secured Bitcoin will be held by Antpool Technologies. Currently, no funds have been drawn from this credit line.
BitFuFu (NASDAQ: FUFU), a digital asset mining and cloud-mining service provider, has been awarded Best Technology Solution Provider for Digital Assets – Cloud. The prestigious award, which attracted over 620 submissions globally, recognizes innovation in financial services technology. BitFuFu was the only digital asset mining service provider honored, joining previous winners like Seba Bank, Bakkt, and Goldman Sachs. The company's recognition alongside technology and financial leaders like AKBANK and Swissquote highlights its strength in cloud-mining services and commitment to innovation in digital assets.
BitFuFu (NASDAQ: FUFU) reported Q3 2024 results with total revenue of US$90.3 million, up 47.5% YoY. The company's hosting capacity expanded to 556 MW across 17 sites, while total mining capacity increased 88.5% YoY to 26.2 EH/s. Cloud-mining registered users grew 75.3% to 455,764. However, BTC production decreased both in self-mining (-34% to 340 BTCs) and cloud-mining (-40.7% to 957 BTCs). The company reported a net loss of US$5.0 million, including US$4.3 million in share-based compensation. Adjusted EBITDA was positive at US$5.8 million, marking the eleventh consecutive quarter of positive adjusted EBITDA.
BitFuFu (NASDAQ: FUFU), a digital asset mining service and cloud-mining service provider, has announced it will release its unaudited financial results for Q3 2024 before U.S. markets open on November 5, 2024. The company will host an earnings conference call at 8:00 A.M. U.S. Eastern Time (9:00 P.M. Singapore Time) on the same day. Participants must register in advance to receive dial-in details and access PIN. A live and archived webcast will be available on the company's investor relations website.
BitFuFu (NASDAQ: FUFU), a digital asset mining and cloud-mining service provider, has announced a definitive agreement to acquire a majority stake in an 80-megawatt (MW) Bitcoin mining facility in Ethiopia. This marks BitFuFu's shift from an asset-light strategy to managing a diverse Bitcoin mining infrastructure portfolio. The acquisition will increase BitFuFu's hosting capacity to over 600MW, with 13% in company-owned sites. The new facility has the potential to add 4.6 EH/s mining capacity using Bitmain S21-series miners, with power costs below $0.04 per kilowatt-hour. This move is expected to reduce BitFuFu's cost per Bitcoin and strengthen its international market position. CEO Leo Lu emphasized the acquisition's importance in vertical integration and portfolio diversification, highlighting plans for technological upgrades and further expansion.
BitFuFu Inc. (NASDAQ: FUFU), a leading digital asset mining and cloud-mining service provider, has announced its participation in the AIM Summit Dubai 2024. The event is scheduled for October 21-22, 2024, at Jumeirah Emirates Towers. Ms. Calla Zhao, Chief Financial Officer, and Ms. Celine Lu, Director of BitFuFu, will represent the company at the summit.
Attendees can find BitFuFu's booth near the ballroom entrance. Those interested in meeting with the BitFuFu team during the event are encouraged to contact ir@bitfufu.com to schedule an appointment. This participation underscores BitFuFu's commitment to engaging with industry leaders and showcasing its fast-growing services in the digital asset mining sector.
BitFuFu (NASDAQ: FUFU), a leading cloud-mining service provider, recently participated in the H.C. Wainwright 26th Annual Global Investment Conference. The company's CFO, Calla Zhao, presented on BitFuFu's strategic initiatives and growth prospects. Key highlights include:
1. Innovative cloud-mining solutions attracting over 395,000 registered users.
2. Strategic partnerships with BITMAIN and Antpool.
3. Management of 522 MW hosting capacity across 25 sites on three continents.
4. Strong financial performance with a three-year revenue CAGR of 66% and adjusted EBITDA CAGR of 167%.
5. Total revenues of $273.8 million in H1 2024, a 104% year-over-year increase.
6. Total mining capacity under management of 24.7 EH/s as of June 30, 2024.
7. Plans to transition from an asset-light strategy to managing a diverse portfolio of Bitcoin mining infrastructure.
BitFuFu Inc. (NASDAQ: FUFU), a leading digital asset mining and cloud-mining service provider, has announced its participation in TOKEN2049 Singapore, scheduled for September 18-19, 2024. This premier crypto event is expected to attract 20,000 attendees from over 7,000 companies and 150 countries, making it the world's largest crypto conference.
CEO Leo Lu will represent BitFuFu, joining a panel discussion on 'Bitcoin Mining and HashFi in the New Situation'. The panel will explore hashrate RWA opportunities and other industry developments. Lu expressed excitement about sharing BitFuFu's insights and vision with fellow industry leaders, emphasizing the company's commitment to offering innovative solutions in the evolving cryptocurrency landscape.
BitFuFu (NASDAQ: FUFU), a leading cloud-mining service provider, has announced its participation in two major investor conferences in September 2024. The company will attend the H.C. Wainwright 26th Annual Global Investment Conference in New York from September 9-11, with CFO Calla Zhao presenting on September 10 from 12:30 PM to 1:00 PM ET. Additionally, BitFuFu will participate in the Sidoti Small-Cap Virtual Conference on September 18-19, with a presentation scheduled for September 19 from 9:15 AM to 9:45 AM ET.
Both conferences offer opportunities for one-on-one meetings with institutional investors. Live webcasts of the presentations will be available through provided links. Interested parties can register for the conferences through H.C. Wainwright and Sidoti, or request meetings directly with BitFuFu via ir@bitfufu.com.
BitFuFu Inc. (NASDAQ: FUFU) reported strong Q2 2024 financial results, with total revenue increasing 69.7% year-over-year to US$129.4 million. Cloud-mining solutions revenue grew 66.8% to US$77.0 million, while Bitcoin self-mining revenue increased 81.0% to US$51.1 million. The company's cloud-mining registered users surged 86.8% to 395,056.
Despite the growth, net income decreased to US$1.3 million from US$5.1 million in Q2 2023, primarily due to a US$16.4 million non-cash unrealized fair value loss on BTC. Adjusted EBITDA fell 39.6% to US$8.3 million. The company maintained a strong liquidity position with US$155.0 million in cash, cash equivalents, and digital assets as of June 30, 2024.