BitFuFu Inc. (Nasdaq: FUFU) is a Bitcoin miner and mining services innovator headquartered in Singapore.[2][3]
| Company type | Public |
|---|---|
| Nasdaq: FUFU | |
| Industry | Bitcoin mining |
| Founded | 2020 |
| Founder | Leo Lu |
| Headquarters | Singapore |
Area served | Global |
| Revenue |
|
| Total assets | 1,792 Bitcoin (as of June 30, 2025) |
| Website | bitfufu.com |
The company acquires and holds Bitcoin through self-mining[4] as its long-term asset allocation strategy, while providing retail and institutional clients with mining services.[5]
In March 2024, following a SPAC merger, BitFuFu became publicly listed on Nasdaq under the ticker symbol FUFU.[6][7]
Operation
editSelf-mining
editBitFuFu conducts self-mining by acquiring and developing mining facilities, and deploying company-owned mining machines.[8][9] The company retains the mined Bitcoin as its long-term holding strategy.[10] In 2024, revenue from BitFuFu's self-mining operations increased by 57% to USD 158 million.[11] As of June 30, 2025, the company held 1,792 Bitcoins,[12] ranking sixth among the Bitcoin treasury companies in Asia and 24th globally.[13]
In January 2025, BitFuFu partnered with Bitmain, an ASIC manufacturer.[14]
In September 2024, it entered into long-term leases on two U.S. mining facilities (totaling 33 MW) with purchase options.[15][16] In February 2025, the company finalized a deal to acquire a 51 MW Bitcoin mining facility in Oklahoma, U.S.[17]
Cloud mining
editBitFuFu offers cloud mining services to both institutional and retail customers. Users can purchase cloud mining contracts via BitFuFu's mobile application or website, selecting desired hashrate and service duration to earn Bitcoin rewards, without the need to buy or manage mining hardware directly.[18]
BitFuFu is the world's largest cloud mining platform. In 2024, its cloud mining revenue increased by 52% to US$271 million.[19] As of June 30, 2025, the platform had over 623,000 of registered users.[20]
Mining pool
editBitFuFuPool is a private-label Bitcoin mining pool launched by BitFuFu in December 2024. It is accessible to users through the BitFuFu app when purchasing cloud mining products or miner services. The pool offers commission rates as low as 0%.[6]
History
editBitFuFu was founded in December 2020 by Leo Lu.[21] In late 2022, BitFuFu announced plans for a SPAC merger, and in early 2024, the company completed a business combination with Arisz Acquisition Corp.[7] Following this merger, BitFuFu's Class A shares and warrants began trading on Nasdaq on March 1, 2024, under the ticker FUFU and FUFUW.[6]
In March 2025, BitFuFu was announced as one of the largest corporate holdings of the new Bitwise Bitcoin Standard Corporations ETF, representing about 4.0% of the ETF's assets.[22]
In May 2025, the company sponsored the Bitcoin 2025 conference in Las Vegas.[23][24]
References
edit- ^ "BitFuFu Full Year 2024 Earnings: EPS Beats Expectations". simplywall.st. 2025-03-26. Retrieved 2025-08-13.
- ^ Lee, Zinnia. "Bitmain-Backed Crypto Miner Bitfufu Finally Goes Public In SPAC Deal". Forbes. Retrieved 2025-08-13.
- ^ Huang, Zheping (25 January 2022). "Bitmain‑Backed Crypto Miner Seeks U.S. Listing in SPAC Deal". Bloomberg.
- ^ "BITFUFU - Bitcoin Treasury Holdings & Analysis". bitcointreasuries.net. 2025-05-31. Retrieved 2025-08-13.
- ^ "Is BitFuFu Inc. (FUFU) the Crypto Stock with the Biggest Upside Potential?". finance.yahoo.com. December 20, 2024. Retrieved 2025-08-13.
- ^ a b c Huang, Vicky Ge. "Crypto Companies Test the Public Markets". WSJ. Retrieved 2025-08-13.
- ^ a b Wang, Cat. "Bitmain-Backed Crypto Mining Company Reaches $1.5 Billion SPAC Merger To Go Public". Forbes. Retrieved 2025-08-13.
- ^ Sokolidou, Anna (March 28, 2025). "BitFuFu: Excellent 2024 Earnings". seekingalpha.com. Retrieved 2025-08-13.
- ^ "A Look into Bitmain's Bitcoin Mining Scale via BitFuFu". TheMinerMag. 2024-01-16. Retrieved 2025-08-13.
- ^ Flippin, Meg. "How BitFuFu's 1GW Global Capacity Expansion Plan Can Help Move Crypto Into A New Landscape - Cleanspark (NASDAQ:CLSK), BitFuFu (NASDAQ:FUFU)". Benzinga. Retrieved 2025-08-13.
- ^ "BitFuFu rides crypto wave, flexible business model to lofty profits - Bamboo Works - China stock insights for global investors". Bamboo Works. 2025-04-02. Retrieved 2025-08-13.
- ^ "Bitcoin miner BitFuFu mines 445 BTC for its biggest production month". Cointelegraph. 2025-07-08. Retrieved 2025-08-13.
- ^ "BitcoinTreasuries.NET - Top Bitcoin Treasury Companies". bitcointreasuries.net. Retrieved 2025-08-13.
- ^ "BitFuFu Secures Deal for 80,000 Bitcoin Miners with Bitmain". TheMinerMag. 2025-01-02. Retrieved 2025-08-13.
- ^ "BitFuFu Stock Surges Pre-Market On Cost-Efficient Bitcoin Mining Expansion: Retail Sentiment Powers Up". www.msn.com. Retrieved 2025-08-13.
- ^ McBride, Elizabeth (2025-03-03). "Keep the lights on or mine Bitcoin? How crypto is starting to suck up clean energy". CNN. Retrieved 2025-08-13.
- ^ "BitFuFu Announces February 2025 Bitcoin Mining and Operation Updates". www.sec.gov. Retrieved 2025-08-13.
- ^ "Annual Report for Fiscal Year Ending December 31, 2024 (Form 20-F)". publicnow.com. 2025-04-21. Retrieved 2025-08-13.
- ^ Jones, Dow (2025-03-25). "BitFuFu Shares Jump 22% After 2024 Revenue Surges on Cloud-Mining Business | MarketScreener". www.marketscreener.com. Retrieved 2025-08-13.
- ^ "BitFuFu: Punished For a Bad Quarter, Poised For a Powerful Re-Rating". seekingalpha.com. 2025-06-27. Retrieved 2025-08-13.
- ^ Wang, Cat. "Bitmain-Backed Crypto Mining Company Reaches $1.5 Billion SPAC Merger To Go Public". Forbes. Retrieved 2025-08-13.
- ^ "BitFuFu Inc. Included in Launch of Bitwise Bitcoin Standard Corporations ETF". nasdaq.com. 2025-03-13. Retrieved 2025-08-13.
- ^ "BitFuFu Announces Sponsorship and Featured Speaker Appearance at Bitcoin 2025". StockTitan. 2025-05-07. Retrieved 2025-08-13.
- ^ "BitFuFu Announces April 2025 Bitcoin Mining and Operation Updates". dcnewsnow.com. Retrieved 2025-08-13.