BitFuFu Inc., (“BitFuFu” or the “Company”) (NASDAQ: FUFU), a global leader in Bitcoin mining and comprehensive mining services, today announced its unaudited production and mining operations updates for January 2025.
Key Highlights:
* Bitcoin Production: Produced 83 Bitcoins ("BTC") from self-mining operations and 200 BTC for cloud-mining customers.
* Bitcoin Holdings: Held 1,742 BTC in total as of January 31, 20251.
* Strategic Expansion:
- Miners: 2,000 units of S21XP miners expected to arrive in the U.S. and to be energized in March 2025, adding 0.54EH/s of mining capacity.
- Mining Facilities: Signed a letter of intent to acquire an operational 51-megawatt (MW) Bitcoin mining facility in the State of Oklahoma, U.S., with $0.03/kWh average power cost.
“Bitcoin prices have remained resilient over the last two months, driving strong demand for our cloud-mining services, especially from large-scale customers,” said Leo Lu, Chairman and Chief Executive Officer of BitFuFu. “We actively manage and rebalance our mining capacity and operations to ensure stable cash flow, minimize risk, and support our strategic expansion plans.”
Bitcoin Production and Holdings:
* BTC Held: 1,742 BTC as of January 31, 20251.
* Self-Mining Production: 83 BTC, representing a 25% decrease from December 2024, mainly due to the expiration of one hashrate purchase order and the strategic reallocation of a portion of hashrate to fulfill cloud-mining orders.
* Cloud-Mining Production: 200 BTC for cloud-mining customers.
* BTC Purchases: No additional BTC were acquired on the secondary market in January 2025.
Hashrate Management:
* Total Hashrate Under Management: 20.2EH/s as of January 31, 2025.
- Self-Owned Hashrate: 3.1EH/s (27,970 miners).
- Cloud-Mining and Co-Hosting: 17.1EH/s (107,384miners).
* Miner Energization:
- 2,000 units S21XP miners ordered in November 2024 are being shipped to the U.S. and expected to be energized in March 2025, adding 0.54EH/s hashrate to operations, preferably used for self-mining.
Power and Facilities:
* Power Under Management: 424 MW total hosting capacity including two facilities with a combined 113 MW power supply secured by the Company.
- 80 MW in Ethiopia (hydropower, electricity cost of $0.036/kWh).
- 33 MW in the U.S. (grid power, electricity cost of $0.042/kWh).
* 1GW of Secured Power Capacity Target by 2026: In January 2025, BitFuFu signed a letter of intent to acquire a majority stake in an operating 51-MW Bitcoin mining facility in Oklahoma, U.S., with competitive average electricity costs of approximately $0.03/kWh.
Mining Services:
* Cloud-Mining Growth: Registered users reached 598,785 as of January 31, 2025.
* New Services: Launched BitFuFuOS, a new software service with power scaling solution that features a range of overclocking and underclocking modes, empowering miners to optimize operations and increase Bitcoin mining earnings by up to 20%.
Upcoming Conferences & Events:
* On February 12, 2025, BitFuFu will participate in the Alliance Global Partners (A.G.P.) Virtual Technology Conference.
* On March 16-18, 2025, Leo Lu, Chairman and CEO of BitFuFu, Calla Zhao, CFO, and Charley Brady, Vice President of Investor Relations, will attend the 37th Annual ROTH Conference in Dana Point, California, and conduct one-on-one meetings with investors.
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Includes 633 BTC pledged for loans and miner procurement payables and excludes BTC produced by cloud-mining customers.
