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BitFuFu (FUFU) investor relations material
BitFuFu Emerging Growth Conference 88 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Company overview and business model
Operates as a leading Bitcoin miner and mining services provider with over 648,000 users as of November 2025.
Manages 26.4 exahash of computing power and 478 MW total capacity, holding over 1,700 Bitcoin as of November 30.
Business is split between self-mining (about 30%) and cloud mining services, with the latter being the dominant revenue driver.
Cloud mining leases hash rate to institutional and retail customers, with most revenue from institutions.
Customers select mining capacity and duration, with contracts typically ranging from 30 to 360 days.
Operations, technology, and strategy
Mining operations span the US (239 MW), Ethiopia (235 MW), and Brazil (4 MW), with 164 MW owned and the rest leased.
Strategic shift toward acquiring more owned data centers to lower costs and increase operational control.
Evaluating potential expansion into HPC AI, contingent on acquiring additional data centers.
Offers proprietary mining pool, OS, and real-time monitoring software to optimize rig performance and guarantee high uptime.
Maintains 95% uptime guarantee, typically achieving 98-99% uptime.
Financial performance and growth
Q3 cloud mining revenue rose 78% year over year; self-mining revenue declined 2% due to halving and resource reallocation.
Mining rig sales reached $36 million in Q3, a temporary spike above the usual $5-6 million per quarter.
Adjusted EBITDA was just over $22 million, up from $6 million the prior year, with profitability every year of operation.
Cloud mining business enables flexible allocation between self-mining and cloud mining to maximize profitability across cycles.
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