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 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.
BitFuFu Inc. (NASDAQ: FUFU), a leading cloud-mining service provider and digital asset mining service company, has announced it will release its unaudited financial results for Q2 2024 on August 20, 2024, before U.S. markets open. The company will host an earnings conference call at 8:00 A.M. U.S. Eastern Time (8:00 P.M. Singapore Time) on the same day.
Participants must register in advance for the conference call using the provided link. Upon registration, they will receive dial-in numbers and a unique access PIN. A live and archived webcast of the call will also be available on BitFuFu's investor relations website.
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