Core Insights - BitFuFu Inc. reported its production and mining operations updates for February 2025, highlighting its growth strategy and confidence in Bitcoin's long-term performance [1][3]. Bitcoin Holdings and Production - As of February 28, 2025, BitFuFu held 1,800 Bitcoins (BTC) and produced a total of 219 BTC, which included 58 BTC from self-mining operations and 161 BTC for cloud-mining customers [6][7]. - The self-mining production decreased by 30% from January 2025, primarily due to miner fleet relocation, while cloud-mining production saw a 19.5% decrease due to the expiration of certain hashrate purchase orders [7]. Hashrate Management - Total hashrate under management was reported at 20.6 EH/s, with self-owned hashrate at 3.1 EH/s and cloud-mining and co-hosting at 17.5 EH/s as of February 28, 2025 [7]. - The company aims to reach a secured power capacity target of 1 GW by 2026, having added an additional 51 MW this month, bringing the total secured power capacity to 164 MW [7]. Strategic Expansion - BitFuFu acquired majority ownership in a 51 MW Bitcoin mining facility in Oklahoma, with plans to deploy S21 series miners and complete energization by March 2025. The cash cost to produce one Bitcoin at this site is approximately $18,000, excluding depreciation [6][7]. - The cloud mining platform experienced significant growth, with registered users increasing from 500,000 to over 600,000 in less than three months [6][11]. Upcoming Conferences & Events - BitFuFu will participate in the 37th Annual ROTH Conference in Dana Point, California, from March 16-18, 2025, and sponsor the FUTU Expo 2025 in Hong Kong on March 21-22, 2025 [11].
BitFuFu Announces February 2025 Bitcoin Mining and Operation Updates