BitFuFu Inc.
- Open
- 1.43
- Day high
- 1.52
- Day low
- 1.42
- Prev close
- 1.40
- Volume
- 240K
- Mkt cap
- $261M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 2.3
- P/S
- 0.6
- Yield
- —
- Per share
- —
BitFuFu Inc. (FUFU) is a Financial Services company listed on NASDAQ. The stock is down 64% over the past year.
BitFuFu Inc. (FUFU) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FUFU earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 29, 2026 | $0.03 | $0.01 | -66.7% | $73M | -22.2% |
| Mar 20, 2026 | $-0.02 | $-0.20 | -900.0% | $102M | -3.3% |
| Nov 12, 2025 | $0.03 | $0.06 | +100.0% | $181M | +71.8% |
| Aug 15, 2025 | $0.06 | $0.09 | +50.0% | $115M | -22.9% |
| Jun 5, 2025 | $0.04 | $-0.10 | -350.0% | $78M | -31.6% |
| Mar 25, 2025 | $-0.03 | $0.14 | +566.7% | $99M | -0.1% |
| Aug 20, 2024 | — | $0.01 | — | $129M | — |
| May 20, 2024 | — | $0.23 | — | $144M | — |
| Dec 31, 2022 | — | $-0.01 | — | $58M | — |
| Sep 30, 2021 | — | $0.01 | — | $38M | — |
| Jun 30, 2021 | — | $0.00 | — | $14M | — |
FUFU insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 1, 2026 | Liu Huaiyudirector | Option | 17,500 | — |
| Jul 1, 2026 | Zhao Callaofficer: Chief Financial Officer | Option | 56,000 | — |
| Jul 1, 2026 | Zheng Yeeli Huadirector | Option | 17,500 | — |
| Jul 1, 2026 | Lu Celinedirector, officer: Senior Vice President | Option | 120,000 | — |
| Jul 1, 2026 | Cui Joshua Keweidirector | Option | 17,500 | — |
| Apr 16, 2026 | Zheng Yeeli Huadirector | Grant | 35,000 | — |
| Apr 16, 2026 | Cui Joshua Keweidirector | Grant | 35,000 | — |
| Apr 16, 2026 | Zhao Callaofficer: Chief Financial Officer | Grant | 224,000 | — |
| Apr 16, 2026 | Lu Celinedirector, officer: Senior Vice President | Grant | 480,000 | — |
| Apr 16, 2026 | Liu Huaiyudirector | Grant | 35,000 | — |
Source: FUFU SEC Form 4 filings, latest Jul 1, 2026. For informational purposes only — not investment advice.
See the full FUFU insider & 13F page →BitFuFu Inc. company profile
Overview
BitFuFu Inc. (NASDAQ:FUFU) is a Singapore-based digital asset mining company that went public on NASDAQ in March 2024. Founded as a cryptocurrency mining service provider, the company has evolved into a comprehensive digital asset infrastructure platform offering cloud mining services, mining equipment hosting, and proprietary mining technologies. BitFuFu has established itself as a significant player in the Bitcoin mining ecosystem, serving both institutional customers and individual cryptocurrency enthusiasts with its integrated mining solutions.
Business
BitFuFu operates in the cryptocurrency mining industry, which involves using specialized computer hardware to validate transactions on blockchain networks and earn digital currency rewards. The company provides three main business segments: 1. Cloud Mining Services (59% of revenue): This is BitFuFu's core offering where customers purchase mining contracts without owning physical hardware. Customers pay upfront fees to access a portion of BitFuFu's mining capacity and receive Bitcoin rewards proportional to their contract size. This model allows individuals and institutions to participate in Bitcoin mining without the technical complexity, capital investment, or operational overhead of managing mining equipment directly. 2. Self-Mining Operations (34% of revenue): BitFuFu operates its own mining facilities using proprietary and third-party mining machines to mine Bitcoin directly. The company owns and operates mining hardware across multiple facilities, generating revenue from the Bitcoin rewards earned through the mining process. This vertical integration allows BitFuFu to control costs and optimize mining efficiency. 3. Mining Machine Sales and Hosting (7% of revenue): The company sells mining equipment to customers and provides hosting services where clients can place their own mining machines in BitFuFu's facilities. The hosting service includes power supply, cooling, maintenance, and technical support, allowing customers to benefit from BitFuFu's operational expertise and economies of scale. The company has developed proprietary technologies including the Mining Site Management System and BitFuFuOS to optimize mining operations, and launched BitFuFu Pool, a mining pool service that aggregates computing power from multiple miners to increase the probability of earning rewards.
Revenue model
BitFuFu generates revenue through multiple complementary business models. The cloud mining segment operates on a prepaid service model where customers purchase mining contracts upfront, providing BitFuFu with immediate cash flow while the company delivers Bitcoin mining rewards over the contract period. The self-mining operations generate revenue directly from Bitcoin rewards earned through the company's own mining activities, with profitability dependent on Bitcoin prices, mining difficulty, and operational efficiency. The equipment sales and hosting services provide additional revenue streams through one-time hardware sales and recurring hosting fees. Hosting customers typically pay monthly fees for power, cooling, and maintenance services, creating predictable recurring revenue. Several factors significantly impact BitFuFu's profitability margins. Bitcoin price volatility directly affects revenue since mining rewards are denominated in Bitcoin. Mining difficulty adjustments, which occur approximately every two weeks, influence the amount of Bitcoin earned per unit of computing power. Electricity costs represent the largest operational expense, making access to low-cost power sources crucial for maintaining competitive margins. The company has strategically relocated operations to reduce hosting costs by 25% and continues seeking locations with favorable electricity rates. Regulatory changes in various jurisdictions can impact operations, as seen with cryptocurrency mining restrictions in certain regions. Hardware efficiency improvements and technological advances in mining equipment affect both operational costs and competitive positioning. The company's vertical integration strategy helps mitigate some margin pressures by controlling more of the value chain and optimizing operational efficiency through proprietary technologies.
Competitive moat
BitFuFu's competitive moat is moderate but growing through its integrated platform approach and operational scale. The company's primary defensive characteristics include its established infrastructure and operational expertise in managing large-scale mining operations across multiple facilities. With 23.5 EH/s of mining capacity and 551 MW of hosting capacity, BitFuFu has achieved meaningful scale that provides cost advantages and operational efficiencies difficult for smaller competitors to replicate. The company's proprietary technology stack, including its Mining Site Management System and BitFuFuOS, creates some differentiation in operational efficiency and customer experience. The vertical integration across cloud mining, self-mining, and hosting services allows BitFuFu to optimize across the entire value chain and capture multiple revenue streams from the same infrastructure investments. However, the cryptocurrency mining industry faces significant competitive pressures. Large public mining companies with substantial capital resources can rapidly expand capacity and potentially commoditize mining services. Technological disruption through more efficient mining hardware or alternative consensus mechanisms could erode existing advantages. Regulatory risks remain substantial, as government policies toward cryptocurrency mining vary widely and can change rapidly, potentially forcing costly relocations or operational adjustments. The company's moat is also limited by the capital-intensive nature of the business, requiring continuous investment in new hardware to maintain competitiveness as older equipment becomes obsolete. While BitFuFu has built a solid operational foundation, the industry's inherent volatility and competitive dynamics suggest the moat is not particularly wide or durable compared to businesses with stronger network effects or switching costs.
Risks & safety
BitFuFu presents a moderate risk profile with adequate liquidity but significant operational cash flow challenges. • Liquidity Position: Strong current ratio of 4.15x with $38.2 million in cash and short-term investments against $63.9 million in current liabilities. The company maintains sufficient working capital to meet near-term obligations. • Debt and Solvency: Manageable debt-to-equity ratio of 0.22x indicates conservative leverage. Total liabilities of $215.2 million against $377.7 million in total assets provide reasonable solvency cushion. • Cash Flow Concerns: Significant negative operating cash flow of -$219.9 million and free cash flow of -$236.7 million in 2024 indicate substantial cash burn from operations and capital expenditures. • Valuation Metrics: Trading at 14.8x P/E ratio and 8.6x EV/EBITDA based on 2024 results. Price-to-book ratio of 4.9x suggests moderate premium to book value. • Profitability Volatility: Earnings fluctuate significantly with Bitcoin prices and mining difficulty, creating uncertainty around sustainable profitability levels. • Capital Requirements: Ongoing need for substantial capital investment in mining equipment and facility expansion to maintain competitiveness.
Recent development
BitFuFu has executed several strategic initiatives to strengthen its market position and operational capabilities. The company's successful NASDAQ listing in March 2024 marked a significant milestone, providing access to U.S. capital markets and enhancing its credibility with institutional investors and customers. The company has pursued aggressive capacity expansion, growing its mining capacity to 23.5 EH/s and hosting capacity to 551 MW. BitFuFu has secured an additional 164 MW of power capacity and plans to reach 1 GW of total power capacity over the next two years, with targets of 33 EH/s mining capacity and 650-800 MW hosting capacity by the end of 2025. Technological innovation has been a key focus, with the development and launch of proprietary systems including the Mining Site Management System and BitFuFuOS to optimize mining operations. The introduction of BitFuFu Pool mining service represents an expansion into adjacent services that can generate additional revenue streams while leveraging existing infrastructure. Operational efficiency improvements have delivered tangible results, with the company achieving a 25% reduction in hosting costs through strategic facility relocations and operational optimizations. This focus on cost management has been crucial for maintaining competitive margins in the volatile cryptocurrency mining environment. The company's vertical integration strategy continues to evolve, with increased focus on controlling more aspects of the mining value chain to optimize costs and capture additional value. This includes expanding self-mining operations alongside the core cloud mining business to diversify revenue sources and reduce dependence on any single business model.
FUFU company profile · for informational purposes only — not investment advice.
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