STOCK TITAN

Crypto miner BitFuFu (FUFU) posts Q2 plunge into red

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

BitFuFu Inc. reported a challenging quarter ended June 30, 2026, with total revenue of $42.8 million, down 62.9% from $115.4 million a year earlier, mainly from weaker Cloud Mining Solutions and no mining equipment sales. Cloud Mining revenue fell to $24.9 million, a 73.6% decline, while self-mining revenue was stable at $14.0 million versus $14.8 million, supported by a 47% increase in average hashrate despite lower Bitcoin prices and higher network difficulty. Hosting and other revenue grew to $3.9 million from $1.1 million.

The company recorded a net loss of $20.5 million versus net income of $47.1 million a year ago, and Adjusted EBITDA of negative $18.4 million versus positive $60.7 million, driven in part by a $16.9 million fair value loss on digital assets compared with a $43.4 million gain last year. As of June 30, 2026, BitFuFu held $119.5 million in cash, cash equivalents and digital assets, down from $177.1 million as of December 31, 2025, after repaying $10 million of Bitcoin-backed loans and making prepayments to secure future hashrate. Operationally, total hashrate under management was 15.3 EH/s (vs. 36.2 EH/s a year earlier), BTC holdings were 1,671, and self-mining BTC production increased to 192 BTC.

Positive

  • None.

Negative

  • Total revenue fell 62.9% year-over-year to $42.8 million, driven by a 73.6% drop in Cloud Mining Solutions and no mining equipment sales.
  • Profitability deteriorated sharply, swinging from net income of $47.1 million to a net loss of $20.5 million and Adjusted EBITDA of negative $18.4 million.
  • Digital asset valuation reversed from a $43.4 million fair value gain in Q2 2025 to a $16.9 million fair value loss in Q2 2026.
  • Liquidity declined, with cash, cash equivalents and digital assets dropping from $177.1 million at December 31, 2025 to $119.5 million at June 30, 2026.
  • Total hashrate under management shrank to 15.3 EH/s as of June 30, 2026 from 36.2 EH/s a year earlier, reducing managed capacity during the quarter.

Filing Explained

The results remain preliminary, while disclosed managed hashrate had risen to approximately 20 EH/s by mid-August from 15.3 EH/s at June 30.

Form 6-K is a foreign private issuer’s interim report for material home-market information; here, BitFuFu furnishes unaudited second-quarter results dated August 17, 2026.

The results are preliminary and subject to adjustments, so the reported June 30, 2026 figures are not presented as final.

The company says it secured additional hashrate and restored total managed hashrate to approximately 20 EH/s by mid-August, versus 15.3 EH/s at June 30; it expects the related prepayments to support higher Bitcoin output and holdings in future periods.

A subsequent operating or financial update can show whether output and holdings reflect that mid-August capacity, while any amendment would resolve the preliminary-results status.

Total revenue Q2 2026 $42.8 million Three months ended June 30, 2026; down 62.9% from $115.4 million in Q2 2025
Net (loss)/income Q2 2026 $(20.5) million Net loss for three months ended June 30, 2026 vs net income of $47.1 million in Q2 2025
Adjusted EBITDA Q2 2026 $(18.4) million Adjusted EBITDA for three months ended June 30, 2026 vs $60.7 million in Q2 2025
Cloud Mining Solutions revenue Q2 2026 $24.9 million Three months ended June 30, 2026; 73.6% decrease from $94.3 million a year earlier
Cash, cash equivalents and digital assets $119.5 million As of June 30, 2026 vs $177.1 million as of December 31, 2025
Total hashrate under management 15.3 EH/s As of June 30, 2026 vs 36.2 EH/s as of June 30, 2025
BTC holdings 1,671 BTC Bitcoin holdings as of June 30, 2026 vs 1,792 BTC a year earlier
BTC produced from self-mining 192 BTC BTC produced from BitFuFu self-mining operations during three months ended June 30, 2026
Cloud Mining Solutions financial
"Revenue from Cloud Mining Solutions for the second quarter of 2026 was $24.9 million"
Cloud mining solutions are services that let users rent or buy computing power hosted by a third party to mine cryptocurrencies, so the customer does not need to own or run the physical equipment. For investors, these offerings matter because they convert a capital- and maintenance-heavy activity into a service model, exposing holders to the profitability of mining, fees, energy costs, and the provider’s reliability—similar to renting a factory’s output instead of owning the factory.
self-mining operations financial
"Revenue from Bitcoin self-mining operations in the second quarter of 2026 was $14.0 million"
hashrate technical
"optimizing our hashrate mix and nearly tripling self-mining production during the period"
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.
Adjusted EBITDA financial
"Adjusted EBITDA in the second quarter of 2026 was negative $18.4 million"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
digital assets financial
"The Company recognized a $16.9 million fair value loss on digital assets"
Digital assets are electronic files or representations of value stored electronically, such as cryptocurrencies, digital tokens, or digital art. They matter to investors because they can be bought, sold, and used for transactions much like physical assets, but exist entirely in digital form, offering new opportunities for investment and financial innovation.
Bitcoin-backed loans financial
"the repayment of $10 million in Bitcoin-backed loans"
Loans where an investor pledges Bitcoin as collateral to borrow cash or other assets; the borrower retains ownership but the lender can seize the Bitcoin if the loan isn’t repaid or collateral value falls. Think of it like pawning a valuable watch to get quick cash. For investors this unlocks liquidity without selling holdings but adds risks from Bitcoin’s price swings, margin calls and counterparty exposure.
Offering Type shelf/ATM

FAQ

How did BitFuFu (FUFU) perform financially in the second quarter of 2026?

BitFuFu reported Q2 2026 revenue of $42.8 million, down 62.9% from $115.4 million in Q2 2025. The company posted a net loss of $20.5 million versus net income of $47.1 million a year earlier, and Adjusted EBITDA of negative $18.4 million.

What drove the revenue decline for BitFuFu (FUFU) in Q2 2026?

The decline was mainly from Cloud Mining Solutions revenue dropping 73.6% to $24.9 million and no mining equipment sales versus $5.2 million last year. Lower Bitcoin prices, weaker sentiment, and reduced customer order volumes significantly impacted cloud mining demand.

How did BitFuFu’s self-mining and hosting businesses perform in Q2 2026?

Self-mining revenue was $14.0 million, roughly flat versus $14.8 million, supported by a 47% increase in average hashrate despite lower BTC price and higher difficulty. Hosting and other revenue rose to $3.9 million from $1.1 million, helped by the Buy and Host solution.

What was BitFuFu’s liquidity position as of June 30, 2026?

As of June 30, 2026, BitFuFu held $119.5 million in cash, cash equivalents and digital assets, down from $177.1 million at December 31, 2025. The decrease reflects $10 million repayment of Bitcoin-backed loans and prepayments for hashrate procurement.

How much Bitcoin did BitFuFu (FUFU) hold and produce in Q2 2026?

BitFuFu held 1,671 BTC as of June 30, 2026, compared with 1,792 BTC a year earlier. During Q2 2026, self-mining operations produced 192 BTC, while customers in cloud-mining solutions produced 255 BTC, averaging 4.9 BTC per day combined.

What happened to BitFuFu’s Adjusted EBITDA in Q2 2026 compared with Q2 2025?

Adjusted EBITDA fell to negative $18.4 million in Q2 2026 from positive $60.7 million in Q2 2025. The decline reflects weaker revenues, especially in cloud mining, and a $16.9 million fair value loss on digital assets versus a $43.4 million gain last year.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
Learn about SEC filing dates

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of August 2026

 

Commission file number: 001-41972

 

BitFuFu Inc.

(Exact Name of Registrant as Specified in Its Charter)

 

7 Temasek Boulevard

Suntec Tower 1, #11-01

Singapore 038987

(Address of Principal Executive Offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F      Form 40-F

 

 

 

 

 

INCORPORATION BY REFERENCE

 

This current report on Form 6-K is hereby incorporated by reference in the registration statements of BitFuFu Inc. on Form F-3 (No. 333-278207, No. 333-286356, No. 333-288554, and No. 333-291353) and Form S-8 (No. 333-282033 and No. 333-287741), to the extent not superseded by documents or reports subsequently filed or furnished.

 

1

 

 

EXHIBIT INDEX

 

Exhibit No.   Description
99.1   Press Release - BitFuFu Reports Unaudited Second Quarter 2026 Financial Results

 

2

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  BitFuFu Inc.
     
Date: August 17, 2026 By: /s/ Leo Lu
  Name: Leo Lu
  Title: Chairman of Board of Directors and
Chief Executive Officer

 

3

Exhibit 99.1

 

BitFuFu Reports Unaudited Second Quarter 2026 Financial Results

  

 

BitFuFu Reports Unaudited

Second Quarter 2026 Financial Results

 

SINGAPORE, August 17, 2026 (GLOBE NEWSWIRE) – BitFuFu Inc. (“BitFuFu” or the “Company”) (NASDAQ: FUFU), a world-leading Bitcoin miner and mining services innovator, today announced its unaudited financial results for the quarter ended June 30, 2026.

 

Second Quarter 2026 Financial Highlights

 

  Total revenue was $42.8 million, down 62.9% from $115.4 million in the same period of 2025. This substantial decline reflects the combined impact of a 27.5% year-over-year drop in Bitcoin’s price, softening demand for Cloud Mining Solutions, and the Company's deliberate optimization of deployed hashrate.  

 

   Three Months Ended June 30, 
   2026   2025 
Category ($ in millions)  Revenue   % of
Revenue
   Revenue   % of
Revenue
 
Cloud Mining Solutions  $24.9    58.2%  $94.3    81.7%
Self-Mining Operations   14.0    32.7%   14.8    12.8%
Mining Equipment Sales   -    0.0%   5.2    4.5%
Hosting Revenue and Others   3.9    9.1%   1.1    1.0%
Total Revenue  $42.8    100.0%  $115.4    100.0%

 

  Net loss was $20.5 million, compared to net income of $47.1 million in the same period of 2025.

 

  Adjusted EBITDA (a non-GAAP metric) was negative $18.4 million, which was significantly impacted by fair value loss of $16.9 million resulting from the decrease in the price of Bitcoin. This compared to positive $60.7 million in the same period of 2025, which included a fair value gain of $43.4 million.

 

  Combined balance of cash and cash equivalents and digital assets1 were $119.5 million as of June 30, 2026, compared to $177.1 million as of December 31, 2025.

 

“Second-quarter results reflected one of the more challenging operating environments our industry has experienced recently, but they do not change our conviction in BitFuFu's long-term opportunity. We prioritized operational quality and discipline—proactively optimizing our hashrate mix and nearly tripling self-mining production during the period. At the same time, we continued to expand our turnkey hosting services as a growing source of diversified revenue, while deploying next-generation S21 XP miners and actively managing our fleet to maintain high efficiency and protect our unit economics amid market volatility. Importantly, the reduction in managed hashrate during the quarter was not a simple contraction; rather, it was part of a deliberate effort to improve the quality and economics of our capacity. We have secured additional hashrate that restored our total managed hashrate to approximately 20 EH/s by mid-August and provided a stronger foundation for the second half of the year. Going forward, we will remain focused on improving operating efficiency, maintaining capital discipline, and selectively deploying resources where we see attractive long-term economics. We believe these efforts will position BitFuFu to capture opportunities as the market improves and to continue creating long-term value for our shareholders,” said Leo Lu, Chief Executive Officer and Chairman of the Board.

 

Second Quarter 2026 Operational Highlights

 

  Total hashrate decreased by 57.7% to 15.3 EH/s as of June 30, 2026, compared to 36.2 EH/s as of June 30, 2025.

 

 

 

1 The BTC collateral receivables are not included in the balance of digital assets; and BTC was measured at fair value in the Company’s financials for the quarter ended June 30, 2026.

 

 

 

BitFuFu Reports Unaudited Second Quarter 2026 Financial Results

  

  Power capacity was 273 MW as of June 30, 2026, compared to 728 MW as of June 30, 2025.

  

  Bitcoin (“BTC”) held by the Company decreased by 6.8% to 1,671 BTC as of June 30, 2026, compared to 1,792 BTC as of June 30, 2025. This reduction reflects the Company’s ongoing treasury management strategy, under which BTC was sold during the period to support operational needs and hashrate procurement activities.  

  

   As of June 30, 
Metric  2026   2025 
Power capacity (MW)   273    728 
Total hashrate under management (EH/s)(1)   15.3    36.2 
BTC Holdings(2)   1,671    1,792 

 

  

Three Months Ended

June 30,

 
   2026   2025 
BTC Produced          
From BitFuFu self-mining operations   192    143 
By customers from cloud-mining solutions(3)   255    917 
Average BTC produced per day by customers and BitFuFu   4.9    11.7 

 

(1) Defined as the hashrate that could theoretically be generated if all miners that have been energized are currently in operation including miners that may be temporarily offline. Hashrates are estimated based on the manufacturers’ specifications.

 

(2) Includes 54 BTC as collateral for loans and excludes BTC produced or pledged by cloud-mining customers.

 

(3) Defined as the amount of BTC that was produced during the period by customers using hashrate purchased from cloud-mining solutions.

 

Second Quarter 2026 Financial Review

 

Revenue

 

Total revenue in the second quarter of 2026 was $42.8 million, representing a decrease of 62.9% from $115.4 million in the same period of 2025, primarily due to the decline in Cloud Mining Solutions and Mining Equipment Sales revenue.

 

Revenue from Cloud Mining Solutions for the second quarter of 2026 was $24.9 million, a 73.6% decrease from $94.3 million in the same period of 2025. This decline was primarily attributable to lower average selling prices, driven by falling BTC prices, and weaker market sentiment. The substantial year-over-year decrease in the Cloud Mining revenue also resulted in a low net dollar retention rate1 of 24.1% for the second quarter of 2026, primarily reflecting reduced order volumes from existing customers.

 

 

1The net dollar retention rate was calculated as the ratio of recurring revenue in the second quarter of 2026 to total Cloud Mining revenue in the second quarter of 2025.

 

2

 

 

BitFuFu Reports Unaudited Second Quarter 2026 Financial Results

 

Revenue from Bitcoin self-mining operations in the second quarter of 2026 was $14.0 million, compared with $14.8 million in the same period of 2025. The year-over-year change primarily reflected the combined effect of: (1) higher blockchain network difficulty, which reduced average daily BTC earnings per tera-hash by 9.7%; (2) a 27.5% decline in the average BTC price to $71,600 in the second quarter of 2026 from $98,800 in the second quarter of 2025; and (3) a partially offset from a 47% increase in average hashrate allocated to self-mining operations.

 

Revenue from mining equipment sales was nil in the second quarter of 2026, compared with $5.2 million in the same period of 2025, driven by lower customer demand amid Bitcoin price uncertainty and broader market sentiment.

 

Revenue from Hosting and Other was $3.9 million in the second quarter of 2026 compared with $1.1 million in the second quarter of 2025. The year-over-year increase was primarily driven by our Buy and Host one-stop solution, which continued to attract clients seeking asset ownership with simplified, hassle-free mining operations.

 

Cost of Revenue

 

Cost of revenue in the second quarter of 2026 was $43.7 million, a decrease of 57.4% from $102.5 million in the second quarter of 2025. The decrease was mainly attributable to a reduction in scale.

 

Operating Expenses

 

Sales and marketing expenses in the second quarter of 2026 were US$1.2 million, a significant increase from US$0.6 million in the same period of 2025. Sales and marketing expenses included share-based compensation expenses of US$0.9 million, compared to less than US$0.1 million during the same period last year. 

 

General and administrative expenses, and research and development expenses for the second quarter of 2026 were $2.2 million and $0.5 million, respectively. Excluding share-based compensation expenses of $0.2 million, these expenses were approximately in line with those in the same period of 2025.

 

The Company recognized a $16.9 million fair value loss on digital assets and digital asset receivables or payables in the second quarter of 2026, reflecting downward pressure on Bitcoin prices during the period. By comparison, the Company recognized a $43.4 million fair value gain in the second quarter of 2025.

 

Net (Loss)/Income

 

Net loss in the second quarter of 2026 was $20.5 million, compared to the net income of $47.1 million in the same period of 2025.

 

Adjusted EBITDA

 

Adjusted EBITDA in the second quarter of 2026 was negative $18.4 million, compared to positive $60.7 million in the same period of 2025.

 

3

 

 

BitFuFu Reports Unaudited Second Quarter 2026 Financial Results

 

Liquidity and Capital Resources

 

As of June 30, 2026, the Company had cash and cash equivalents and digital assets of $119.5 million, compared to $177.1 million as of December 31, 2025. The decrease was primarily due to the decline in the fair value of Bitcoin held, the repayment of $10 million in Bitcoin-backed loans, and the prepayment made to secure hashrate procurement. These prepayments are expected to support higher Bitcoin mining output and holdings in future periods.

 

Conference Call

 

The Company’s management team will hold an earnings conference call at 8:00 A.M. U.S. Eastern Time on Monday, August 17, 2026 (8:00 P.M. Singapore Time on the same day).

 

All participants must register in advance of the conference call using the link provided below. Upon registration, each participant will receive a confirmation email containing dial-in numbers and a unique access PIN, which will be used to join the conference call.

 

Registration Link: BitFuFu Second Quarter 2026 Earnings Conference Call
https://register-conf.media-server.com/register/BI863fdc95255f4f19b6dcae7127f2075e

 

Additionally, a live and archived webcast of the conference call will also be available on the Company’s investor relations website at https://ir.bitfufu.com.

 

About BitFuFu

 

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, please visit https://ir.bitfufu.com or follow BitFuFu on X @BitFuFuOfficial.

 

Non-GAAP Financial Measure

 

BitFuFu uses and considers Adjusted EBITDA, a non-GAAP financial measure, as a supplemental metric in reviewing and evaluating its performance. BitFuFu defines Adjusted EBITDA as (1) GAAP net profit/loss, plus (2) adjustments to add back interest expense/(income), income tax expense/(benefit), depreciation and amortization, and (3) adjustments for non-recurring items, if any. BitFuFu believes that this non-GAAP financial measure provides useful information to investors and others in understanding and evaluating the consolidated financial results in the same manner as its management and in comparing financial results across accounting periods. However, Non-GAAP financial measure is not defined under GAAP and are not presented in accordance with GAAP. Non-GAAP financial measure has limitations as analytical tools, which possibly do not reflect all items of expense that affect the Company’s operations. BitFuFu’s calculation of adjusted EBITDA may be different from the calculation methods of other companies, and therefore, the comparability of such measure may be limited. In addition, this non-GAAP financial measure adjusts for the impact of items that BitFuFu does not consider indicative of the operational performance of its business and should not be considered in isolation or construed as an alternative to net profit/loss or any other measure of performance or as an indicator of its future performance. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP.

 

For more information on the non-GAAP financial measure, please see the table captioned “Unaudited Reconciliation of GAAP and non-GAAP Results” set forth at the end of this release. BitFuFu encourages you to review its financial information in its entirety and not rely on a single financial measure.

 

4

 

 

BitFuFu Reports Unaudited Second Quarter 2026 Financial Results

 

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. The announced results of the second quarter of 2026 are preliminary and subject to adjustments. 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

 

Media contact:

 

BitFuFu Media Relations

pr@bitfufu.com

 

5

 

 

BitFuFu Inc.

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

(In thousands, except share and per share data)

 

   Three months ended
June 30,
  

Six months ended

June 30,

 
   2026   2025   2026   2025 
                 
Total revenues   42,760    115,395    115,420    193,439 
                     
Cost of revenues                    
Cost of revenues incurred to a related party   (18,268)   (58,989)   (40,095)   (89,002)
Cost of revenues incurred to third parties   (23,112)   (36,153)   (69,990)   (71,663)
Cost of revenues – depreciation and amortization   (2,339)   (7,401)   (5,920)   (13,462)
Total cost of revenues   (43,719)   (102,543)   (116,005)   (174,127)
                     
Gross (loss)/profit   (959)   12,852    (585)   19,312 
                     
Operating expenses                    
Sales and marketing expenses   (1,190)   (647)   (1,561)   (1,107)
General and administrative expenses   (2,209)   (2,088)   (4,104)   (4,093)
Research and development expenses   (517)   (387)   (946)   (751)
Credit loss provision for receivables   (165)   -    (165)   - 
Changes in fair value of digital asset receivables or payables   1,953    8,340    (3,003)   5,170 
Changes in fair value of digital assets   (18,824)   35,068    (49,494)   17,500 
Total operating (expenses)/income   (20,952)   40,286    (59,273)   16,719 
                     
Operating (expense)/income   (21,911)   53,138    (59,858)   36,031 
                     
Investment income   16    114    22    250 
Interest expense   (821)   (2,170)   (1,764)   (4,283)
Interest income   147    597    279    1,092 
Other expenses, net   (76)   (143)   (250)   (143)
(Loss)/income before income taxes   (22,645)   51,536    (61,571)   32,947 
Income tax benefit/(expense)   2,103    (4,395)   6,078    (2,620)
Net (loss)/income and total comprehensive (loss)/income   (20,542)   47,141    (55,493)   30,327 
Less: Net income attributable to non-controlling interests   (9)   (16)   (25)   (74)
Total comprehensive (loss)/income attributable to ordinary shareholders of BitFuFu   (20,551)   47,125    (55,518)   30,253 
                     
Earnings per share:                    
Ordinary shares – basic ($)   (0.12)   0.29    (0.33)   0.19 
Ordinary shares –diluted ($)   (0.12)   0.28    (0.32)   0.18 
                     
Weighted average shares outstanding used in calculating basic and diluted earnings per share:                    
Ordinary shares – basic   166,916,728    163,265,449    166,916,728    163,186,914 
Ordinary shares – diluted   172,168,703    168,647,741    172,168,703    168,569,206 
                     

 

BitFuFu, Inc., Second Quarter 2026 Earnings Press Release Schedules

 

6

 

 

BitFuFu Inc.

Condensed Consolidated Balance Sheets (Unaudited)

(In thousands)

 

   June 30,   December 31, 
   2026   2025 
         
ASSETS          
Current assets:          
Cash and cash equivalents   22,220    27,761 
Digital assets   97,323    149,289 
Digital assets collateral receivable   3,146    24,075 
Accounts receivable, net   6,766    12,326 
Amount due from related parties   68,856    75,019 
Prepayments   16,267    26,042 
Inventory   -    145 
Financial assets held for trading   1,290    521 
Other current assets, net   6,847    9,358 
Total current assets   222,715    324,536 
           
Non-current assets:          
Equipment, net   18,195    20,672 
Goodwill   4,235    4,235 
Deferred tax assets, net   12,310    7,524 
Operating lease right of use assets, net   315    436 
Long term investment   570    177 
Total non-current assets   35,625    33,044 
           
Total assets   258,340    357,580 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
Current liabilities:          
Accounts payables   2,484    4,659 
Contract liabilities   30,981    50,573 
Long term loan – current portion   2,000    15,000 
Accrued expenses and other payables   14,117    16,060 
Obligation to return collateral digital assets   6    3,349 
Amount due to a related party   2,640    6,803 
Taxes payable   349    1,792 
Operating lease liabilities, current   257    251 
Total current liabilities   52,834    98,487 
           
Non-current liabilities:          
Long-term loans   3,400    - 
Long-term payable   93,364    94,364 
Deferred tax liabilities, net   14,307    14,928 
Operating lease liabilities, non-current   65    197 
Total non-current liabilities   111,136    109,489 
           
Total liabilities   163,970    207,976 
           
Total shareholders’ equity   94,370    149,604 
           
Total liabilities and stockholders’ equity   258,340    357,580 

  

BitFuFu, Inc., Second Quarter 2026 Earnings Press Release Schedules

 

7

 

 

BitFuFu Inc.

Unaudited Reconciliation of GAAP and non-GAAP Results

(In thousands)

 

   Three months ended
June 30,
  

Six months ended

June 30,

 
   2026   2025   2026   2025 
Net (loss)/income   (20,542)   47,141    (55,493)   30,327 
(Minus)/Add: Income tax (benefit)/expense   (2,103)   4,395    (6,078)   2,620 
Add: Interest expenses, net   674    1,573    1,485    3,191 
Add: Depreciation and amortization   2,339    7,401    5,920    13,462 
Add: Credit loss provision for receivables   165    -    165    - 
Add: Share-based Compensation   1,067    175    1,163    299 
Adjusted EBITDA   (18,400)   60,685    (52,838)   49,899 

 

BitFuFu, Inc., Second Quarter 2026 Earnings Press Release Schedules

 

8

Filing Exhibits & Attachments

1 document