What BitFuFu does

BitFuFu (NASDAQ: FUFU) is a Singapore-headquartered, publicly listed Bitcoin mining infrastructure company that combines a cloud mining platform with proprietary self-mining operations across global facilities. The cloud mining platform enables retail and institutional customers to lease hashrate via self-serve Starter Mining (1-10 day) and FlexPay Mining (14-360 day) contracts, with automated daily BTC payouts and a 95%+ reported online rate. BitFuFu operates 16.3 EH/s of hashrate under management and 346 MW of hosting capacity across facilities in Oklahoma (51MW), Ethiopia (80MW), and West Virginia (20MW BPC partnership), with a stated goal of reaching 1 GW by end of 2026.

The product portfolio is vertically integrated: Cloud Mining (the flagship, 74% of FY2025 revenue), Miner Marketplace (ASIC sales with or without hosting), BitFuFuOS proprietary firmware (claimed ~15% hashrate uplift), BitFuFuPool mining pool (~3.17-20 EH/s with fees as low as 0.4% FPPS), BITMAIN Coupon Trading, and a Sell Hashrate monetization platform. Underlying technology includes the Aladdin Hashrate Management System for global scheduling and the proprietary firmware stack supporting ANTMINER S19/S21 series. BitFuFu serves a 675,000+ registered user base anchored by retail crypto miners, supplemented by enterprise/institutional clients served through a dedicated sales motion and partnerships with BITMAIN (strategic investor and primary equipment supplier under a two-year framework for up to 80,000 miners), AntPool (joint operation and $100M equity investor in November 2024), and Coinbase (wallet integration).

Revenue mechanics span hashrate rental (subscription/usage-based, $350.6M in FY2025), ASIC hardware sales, self-mining block rewards ($63.1M in FY2025), pool transaction fees, and managed hosting services. FY2025 revenue reached $475.8M (+2.7% YoY), but the company reported a $57.4M net loss versus $54M net income in 2024 as average mining cost per Bitcoin rose to ~$77,573 amid Bitcoin price weakness and increased network difficulty; Q1 2026 revenue of $72.7M was down 6.8% YoY, and the stock has declined approximately 51.9% over the trailing year.

Name

BitFuFu

Legal name

BitFuFu Inc.

Website

https://bitfufu.com

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

51–100 employees

Short description

BitFuFu (NASDAQ: FUFU) is a Singapore-based Bitcoin mining infrastructure company offering cloud hashrate rental, ASIC miner sales with hosting, a proprietary mining pool, and self-mining across US and African facilities, serving 675,000+ retail and institutional customers.

Ownership category

akta.pro rank

Product category

Bitcoin Mining Infrastructure

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (51821), Mining Machinery and Equipment Manufacturing (333131)

SIC

Mining Machinery & Equip (No Oil & Gas Field Mach & Equip) (3532), Finance Services (6199)

akta.pro primary industry

Cloud Mining & Hashrate Marketplace Services (FSADAOAC)

akta.pro secondary industries

Mining Software, Firmware & Monitoring Platforms (FSADAOAF), Mining Infrastructure & Energy Procurement (Power, Cooling, Grid Services) (FSADAOAG)

Keywords

• Cloud mining services
• Bitcoin mining infrastructure
• Hashrate rental
• Mining pool services
• ASIC miner hosting

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Supply Chain, Technology or R&D, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. Cloud Mining Services: Primary revenue driver providing hashrate rental to customers with subscription/usage-based pricing. Cloud mining revenue reached $350.6 million in 2025 (74% of total revenue), up 29.4% year-over-year. Customers pay for hashrate contracts with varying durations and receive daily mining payouts.
2. Mining Equipment Sales: Sale of ASIC miners (ANTMINER products) including new and used equipment. Part of revenue diversification strategy with growth in equipment sales alongside cloud mining expansion.
3. Self-Mining Operations: Proprietary Bitcoin mining through owned and co-operated facilities. Revenue declined 60% in 2025 as company shifted focus to cloud mining, with self-mining revenue at $63.1 million. Represents strategic foundation for Bitcoin network participation.
4. Hashrate Sales Platform: Platform enabling hashrate suppliers to monetize their mining capacity through bulk purchasing, flexible selling, and transparent settlement. Supports up to 360-day earnings lock-in with USD or BTC dual-currency settlement.
5. Mining Pool Fees: BitFuFuPool charges fees for mining pool services, with earnings mode and fees as low as 0.4% FPPS. Pool hashrate at 3.17 EH/s with global server deployment.
6. Hosting Services: End-to-end hosting services including procurement, shipping, customs, deployment, and daily maintenance of mining equipment at company facilities. Includes facility management at Oklahoma, Ethiopia, and other global mining farm locations.

Pricing tiers

Go-to-market motion4 records

Distribution channels7 records

Marketing channels8 records

Core offering

BitFuFu sells Bitcoin cloud mining hashrate contracts that let customers earn daily BTC payouts without owning hardware, supported by a self-mining operation and ASIC miner marketplace. The platform also operates BitFuFuPool (a Bitcoin mining pool) and BitFuFuOS (proprietary mining firmware), with end-to-end miner hosting at its global farms.

Product overview

BitFuFu is a NASDAQ-listed (ticker: FUFU) Bitcoin mining infrastructure company operating a dual business model combining Cloud Mining Services (the flagship offering) and Self-Mining Operations (core infrastructure), supported by ASIC Acquisition & Hosting Services for end-to-end miner lifecycle management. The platform provides a vertically integrated suite of products including Cloud Mining (Starter Mining and FlexPay Mining sub-products), a Miner Marketplace (Miner with Hosting and Miner Only), BitFuFuOS proprietary firmware, the BitFuFuPool mining pool, BITMAIN Coupon Trading, and a Sell Hashrate monetization platform. The company also operates global mining farms (Oklahoma, Ethiopia, West Virginia) and manages a reported 26.4 EH/s of hashrate and 463 MW of hosting capacity, serving over 675,000 registered users.

Differentiator

Problem solved

Functional benefit

Brands

• BitFuFuPool: Bitcoin mining pool operated by BitFuFu with fees as low as 0.4%
• BitFuFuOS
• BTC More
• FuFu Points

Products and services

• Cloud Mining One-click Bitcoin cloud mining service that leases hashrate to users and pays out BTC daily, without requiring hardware ownership. Available as Starter Mining (1–10 day short-term, low-risk) and FlexPay Mining (14–360 day installment-based contracts with higher return potential).
• Miner Marketplace Marketplace for purchasing new or used ANTMINER ASIC miners (e.g., Bitmain S21XP and S21+ HYD), offered as Miner with Hosting (BitFuFu handles procurement, shipping, customs, deployment, and co-hosting) or Miner Only (standalone purchase).
• BitFuFuOS Mining Firmware Proprietary mining firmware providing customizable overclocking and underclocking modes for Bitmain ASIC miners (S19 and S21 series), boosting hashrate by approximately 12–15% at equivalent J/T or reducing J/T by ~6% at equivalent hashrate.
• BitFuFuPool Bitcoin SHA256d mining pool operating at ~3.17 EH/s with FPPS fees as low as 0.4%, globally deployed stratum servers across America, Europe, Asia, and Africa, daily BTC payouts, and real-time transparent earnings.
• BITMAIN Coupon Trading Platform for buying and selling 100% BITMAIN-certified miner coupons that provide discounts on BITMAIN.com orders, with secure trading and easy coupon management.
• Sell Hashrate Platform One-stop hashrate monetization platform for BTC hashrate suppliers, enabling bulk purchasing, flexible selling, and transparent settlement with up to 360-day earnings lock-in and USD/BTC dual-currency settlement. Integrates with ANTPOOL and BitFuFuPool.
• Self-Mining Operations Proprietary Bitcoin mining through owned and co-operated large-scale facilities in Oklahoma, Ethiopia, and West Virginia, operating at approximately 26.4 EH/s and 463 MW hosting capacity.
• ASIC Acquisition and Hosting Services End-to-end miner acquisition and hosting solution providing priority access to next-generation Bitmain ASIC miners plus full lifecycle services — procurement, deployment, racking, and daily maintenance — at BitFuFu's global mining farm network.

Quantifiable outcome

• 15% hashrate increase at same power consumption with BitFuFuOS firmware
• +4 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and flagship.

• Oklahoma Mining Facility PartnerscoreChannel Partner/ Reseller/ Distributor · 1 February 2025Local partners providing hosting services at 51MW Oklahoma data center acquired in February 2025. Facility hosts S21 XP miners with 97% historical uptime rate.
• BITMAINflagshipStrategic or Co-development Partner · 1 July 2021Strategic investment and long-term partnership providing priority access to next-generation ASIC miners, hosting services at BITMAIN's million-load mining farms, and two-year framework agreement for up to 80,000 miners. BITMAIN endorsed BitFuFu as a standardized crypto mining platform and provides the ANTMINER products sold through BitFuFu's marketplace.
• AntPoolcoreStrategic or Co-development Partner · 1 March 2021Joint operation partnership established in March 2021 to provide more stable cloud mining services. AntPool, a major mining pool operator, collaborates with BitFuFu on mining operations and pool services integration.
• CoinbasecoreTechnology or IntegrationLeading cryptocurrency wallet integrated with BitFuFu's crypto mining platform. Users can onboard Coinbase wallet for crypto mining activities through the standardization platform.
• BPC (BITMAIN Partnership)coreChannel Partner/ Reseller/ DistributorPartnered mining operation with BITMAIN located in West Virginia, USA. Hydro-cooling facility supporting S21+ HYD miners at 20MW capacity with 95% historical uptime rate.

Scale indicators13 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• BitDeer Technologies: BitDeer is a NASDAQ-listed (BTDR) cloud mining and self-mining operator spun out of Bitmain. It is the closest direct peer to BitFuFu, offering a similar hashrate subscription marketplace, self-mining operations, and hosting services with a comparable technology and customer profile.
• Marathon Digital Holdings: Marathon Digital (NASDAQ: MARA) is one of the largest publicly listed Bitcoin miners in North America with significant self-mining hashrate and a growing focus on hosting and HPC-style diversification. It is a direct peer in terms of bitcoin mining economics, capital intensity, and listed-equity investor base.
• Riot Platforms: Riot Platforms (NASDAQ: RIOT) operates large-scale Bitcoin mining in Texas with a focus on vertical integration (own power infrastructure) and developing HPC/AI compute as a new revenue stream. It is a direct peer in mining scale, capital markets profile, and infrastructure strategy.
• CleanSpark: CleanSpark (NASDAQ: CLSK) is a U.S.-focused Bitcoin miner that has aggressively expanded its owned hashrate and operates data centers optimized for energy efficiency. It is a direct peer in mining economics, fleet management approach, and exposure to U.S. power markets.
• Hut 8: Hut 8 (NASDAQ: HUT) is a North American Bitcoin miner and data center operator with managed services for hosting and AI/HPC compute. It overlaps with BitFuFu in hosted mining services and digital infrastructure positioning, and competes for institutional and enterprise customers.
• NiceHash: NiceHash is a global hashrate marketplace that matches buyers and sellers of SHA256 (Bitcoin) and other algorithm mining power. It is the closest functional peer to BitFuFu's Sell Hashrate platform, monetizing idle hashrate via a two-sided marketplace model.
• Bitfarms: Bitfarms (NASDAQ: BITF) is a vertically integrated Bitcoin miner with operations in the U.S., Canada, Argentina, and Paraguay, focused on low-cost power. It is a direct peer in mining scale, geographic diversification, and the HPC diversification strategy.
• Core Scientific: Core Scientific (NASDAQ: CORZ) emerged from bankruptcy as a large-scale Bitcoin miner and digital infrastructure provider, offering hosting services and pursuing HPC/AI compute as a new vertical. It competes with BitFuFu in hosted mining capacity and infrastructure services.
• Bit Digital: Bit Digital (NASDAQ: BTBT) is a publicly listed Bitcoin miner with operations in North America and a recent pivot toward AI/HPC compute services. It is a direct peer in mining operations, listed-equity exposure, and the strategic shift toward diversifying beyond pure BTC mining.

Broad incumbents

• Canaan Inc. Canaan (NASDAQ: CAN) is a leading ASIC miner manufacturer and a broader incumbent in the crypto mining ecosystem, also offering some mining services. It is a broad incumbent comparable to BitFuFu on the equipment side (similar to BitFuFu's miner marketplace with BITMAIN-certified products) and adjacent on the mining services side.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/BitFuFuOfficial

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BitFuFu