BitFuFu reported a 6.9% year-over-year decline in Q1 revenue but increased Bitcoin holdings to 1,855 BTC amid strategic mining shifts.
BitFuFu Inc. (NASDAQ:FUFU) posted first-quarter revenue of $72.66 million, down from $78.04 million in the same period last year. The decline reflects lower Bitcoin prices, though the company highlighted disciplined cost management and capital allocation efforts.
Cloud Mining Solutions contributed $57.5 million, or 79% of total revenue, while hashrate under management reached 25.9 EH/s. The company ended the quarter with $141.5 million in cash and digital assets, including 1,794 BTC on its balance sheet.
BitFuFu also reported a 22.1% month-over-month increase in May Bitcoin production to 177 BTC, with self-mining output nearly tripling to 90 BTC. Total Bitcoin holdings grew to 1,855 BTC, driven by a strategic shift toward accumulation.