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 leading digital asset mining and cloud-mining service provider dedicated to fostering a secure, compliant, and transparent blockchain infrastructure. Since its establishment in December 2020, the company has achieved significant growth, establishing itself as a world leader in the cloud-mining industry.
BitFuFu offers a range of stable and intelligent digital asset mining solutions, including one-stop cloud-mining services and miner hosting services to both institutional customers and individual digital asset enthusiasts. The company leverages its robust infrastructure, managing approximately 131,000 miners and boasting a total mining capacity of 15.2 EH/s across 17 facilities in multiple countries as of June 30, 2023.
Recent achievements include the successful completion of a business combination with Arisz Acquisition Corp., resulting in BitFuFu's Class A ordinary shares and warrants commencing trading on the Nasdaq Stock Market under the ticker symbols “FUFU” and “FUFUW” from March 1, 2024. This move was bolstered by $74 million in PIPE financing commitments from existing shareholders and strategic partners, including Bitmain and AntPool.
Under the leadership of its founder and CEO, Leo Lu, BitFuFu continues to expand its global footprint in the digital asset industry. The company reported revenues of $198.2 million in 2022, with a further increase to $134.2 million in the first half of 2023. BitFuFu's business model, which includes cloud-mining, miner hosting, and self-mining, positions it well to navigate market volatility and maintain growth.
The company also maintains a strong focus on corporate governance and transparency, as evidenced by its recent filing of the annual report on Form 20-F for the fiscal year ended December 31, 2023, with the U.S. Securities and Exchange Commission.
Looking ahead, BitFuFu aims to continue its rapid growth trajectory, expanding its offerings and global presence. The company remains committed to delivering efficient mining solutions to its customers and achieving its vision of becoming the world leader in digital asset mining.
BitFuFu (NASDAQ: FUFU), a global Bitcoin mining and comprehensive mining services provider, has announced reaching 600,000 registered users worldwide on its Cloud Mining platform. The company achieved remarkable growth, expanding from 500,000 to 600,000 users in less than three months, compared to the five months previously needed to grow from 400,000 to 500,000 users by November 2024.
To commemorate this milestone, BitFuFu has launched a special discount coupon campaign for active registered users, offering tiered discounts based on cloud mining hashrate purchases. The rapid user growth is attributed to the company's user-friendly Cloud Mining APP and effective global marketing strategy.
BitFuFu (NASDAQ: FUFU) has acquired a majority stake in a 51MW operational Bitcoin mining data center in Oklahoma for $400,000 per MW, funded through cash and common stock. The facility, operational since 2022, features air-cooled container infrastructure with over 95% uptime and competitive electricity costs of $0.03/kWh. This enables Bitcoin mining at a cash cost of approximately $18,000 per Bitcoin using AntMiner S21 XP miners.
The acquisition aligns with BitFuFu's 1GW Global Capacity Expansion Plan and will increase total managed hashrate by over 3EH/s. The Oklahoma facility benefits from the Southwest Power Pool's stable energy market and crypto-friendly state regulations. The site has expansion potential pending a transmission upgrade study in mid-2025. Additionally, BitFuFu has agreed to purchase up to 80,000 S-series miners from BITMAIN in Q4 2024.
BitFuFu (NASDAQ: FUFU) has released its January 2025 mining operations update. The company produced 83 BTC from self-mining (25% decrease from December) and 200 BTC for cloud-mining customers, holding a total of 1,742 BTC as of January 31, 2025.
The company manages 20.2 EH/s of total hashrate, comprising 3.1 EH/s self-owned and 17.1 EH/s cloud-mining and co-hosting. BitFuFu expects to add 0.54 EH/s with 2,000 S21XP miners in March 2025.
BitFuFu currently operates with 424 MW total hosting capacity, including facilities in Ethiopia (80 MW at $0.036/kWh) and the U.S. (33 MW at $0.042/kWh). The company signed a letter of intent to acquire a 51-MW facility in Oklahoma with $0.03/kWh power costs. Additionally, BitFuFu launched BitFuFuOS, a new software service promising up to 20% increased mining earnings through power optimization.
BitFuFu (NASDAQ: FUFU), a global leader in Bitcoin mining and comprehensive mining services, has announced its participation in the upcoming 37th Annual ROTH Conference. The event will take place from March 16-18, 2025 in Dana Point, California.
Key company representatives attending include Chairman and CEO Leo Lu, CFO Calla Zhao, and Vice President of Investor Relations Charley Brady. The conference will feature approximately 500 private and public companies from various growth sectors, providing investors with opportunities to meet and hear from executive management teams. BitFuFu's team will be available for one-on-one meetings with investors throughout the event.
BitFuFu (NASDAQ: FUFU) has signed a letter of intent to acquire a majority stake in a 51-megawatt Bitcoin mining facility in Oklahoma, United States. The facility features completed power and mining infrastructure, with a reliable grid power supply at approximately 3 cents per kilowatt-hour.
The facility, located in an unpopulated area, operates air-cooled Bitcoin miners and has demonstrated high hashrate efficiency. The transaction is expected to close in the first half of 2025, subject to definitive agreement, financial and legal due diligence, and other closing conditions.
This strategic move aligns with BitFuFu's North American expansion strategy and their 1GW global power capacity build-up plan, aiming to secure long-term, low-cost power access while strengthening their position in Bitcoin mining.
BitFuFu (NASDAQ: FUFU) has launched BitFuFuOS, a new software service designed to increase mining earnings by up to 20%. The software provides overclocking and underclocking modes that allow miners to optimize operations based on temperature conditions, power availability, and market conditions.
The service is compatible with 10 mainstream mining rigs, including Antminer S21, T21, and S19 XP models. BitFuFuOS integrates miners, hosting, mining pools, and software services to deliver a comprehensive one-stop mining experience. The platform is supported by a professional team for user assistance and prompt issue resolution, catering to both novice and experienced miners.
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.
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