SINGAPORE, July 23, 2025 (GLOBE NEWSWIRE) -- BitFuFu Inc. ("BitFuFu" or the "Company") (NASDAQ: FUFU), a world-leading Bitcoin miner and mining services innovator, today announced that its private-label Bitcoin mining pool, BitFuFuPool, has surpassed 20 exahashes per second (EH/s) in hashrate, just eight months after its public launch. This achievement places BitFuFuPool among the top 11 largest Bitcoin mining pools worldwide. | BitFuFuPool | | | | | | | --- | --- | --- | --- | --- | --- | | Deep Focus on B ...

Core Viewpoint - BitFuFu Inc. is committed to building a sustainable and energy-efficient Bitcoin mining operation, focusing on renewable energy and innovative technologies to enhance mining efficiency throughout 2025 [1][2]. Company Initiatives - Strategic acquisitions and infrastructure developments over the past nine months have demonstrated how sustainable Bitcoin mining can scale effectively by utilizing renewable energy resources and improving miner energy efficiency through advanced software technology [2]. - The company aims to secure 1 GW of power by the end of 2026 through acquisitions and greenfield developments, which will enhance cost control and operational efficiency in a post-halving environment [2]. Renewable Energy Utilization - BitFuFu acquired a majority stake in an 80 MW Bitcoin mining facility in Ethiopia, leveraging the country's hydropower resources for sustainable energy production [5]. - The company is also engaging in flared gas mining, capturing gas that would otherwise be wasted at oil drilling sites to generate electricity for Bitcoin mining [5]. Technological Innovations - BitFuFuOS, launched in January, allows users to customize operational modes for their miners based on temperature, power availability, and market conditions, optimizing efficiency and reducing energy consumption [5].

Core Insights - BitFuFu Inc. reported strong operational progress in April 2025, with significant growth in managed hashrate and power capacity, alongside an increase in Bitcoin holdings [2][4]. Bitcoin Holdings and Production - As of April 30, 2025, Bitcoin holdings reached 1,908 BTC, an increase of 61 BTC from March 31, 2025, due to self-mining operations and net inflow from customer payments [5]. - The company produced a total of 209 BTC in April 2025, which included 173 BTC from cloud mining and 36 BTC from self-mining [5]. Hashrate Overview - Total hashrate under management was 28.3 EH/s as of April 30, 2025, reflecting a 37.4% month-over-month increase, driven by expanded supplier partnerships and increased hash power procurement [4][5]. - Self-owned hashrate accounted for 4.2 EH/s, while hashrate from third-party suppliers and hosting customers was 24.1 EH/s [5]. Power and Infrastructure - Total power capacity under management increased to 566 MW across five continents as of April 30, 2025, marking an 18.4% month-over-month increase [4][5]. - BitFuFuPool connected 10.9 EH/s of hashrate to the network, and BitFuFuOS optimized 9.7 EH/s of hashrate, adding software support for various Antminer models [6]. Upcoming Conferences & Events - BitFuFu will sponsor and present at Bitcoin 2025 in Las Vegas from May 27 to 29, 2025, and will also present at the Lytham Partners Spring 2025 Investor Virtual Conference on May 29, 2025 [6].

Financial Data and Key Metrics Changes - Total revenue for 2024 was $463.3 million, representing a 63.1% increase from $284.1 million in 2023 [31] - Net income for 2024 was $54 million, with adjusted EBITDA reaching $117.5 million, more than tripling from $41.7 million in 2023 [11][46] - The compound annual growth rate of revenue and adjusted EBITDA from 2021 to 2024 was 65% and 177% respectively [11] Business Line Data and Key Metrics Changes - Cloud mining revenue was $271 million in 2024, up 52.2% year-over-year, accounting for approximately 59% of total revenue [32] - Self-mining operations generated $51.1 million in revenue, a 57.2% increase compared to 2023, driven by a 77.2% increase in average hashrate [35] - Revenue from the sale of mining machines was $30.5 million, marking a return to this line of business after being paused in 2023 [36] Market Data and Key Metrics Changes - The average price of Bitcoin increased by 128.4% year-over-year, impacting revenue positively despite a 29% decrease in Bitcoin production [35] - The company’s total mining capacity under management reached 23.5 EH/s by the end of 2024, up from 22.9 EH/s at the end of 2023 [12] Company Strategy and Development Direction - The company is transitioning to a model that includes owning data center assets, aiming to reduce mining hosting costs and enhance profitability [14][19] - A strategic focus on vertical integration is being pursued, with plans to acquire or build data centers to optimize cost structures [14] - The company aims to expand its secured power capacity to 1 GW over the next two years, with a focus on North America and low-cost power sites [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to drive continued growth and shareholder value, expecting mining capacity to reach approximately 33 EH/s by the end of 2025 [28] - The company remains bullish on Bitcoin and plans to maintain a majority of its Bitcoin holdings while strategically managing sales to cover operational costs [45] Other Important Information - The company reported a strong liquidity position with $235.5 million in cash, cash equivalents, and digital assets as of the end of 2024 [47] - A two-year master loan agreement with ANTPOOL was established, granting access to up to $100 million in capital [48] Q&A Session Summary - No Q&A session was conducted during the call, but participants were encouraged to email questions to the investor relations team for responses [6]