BitFuFu Achieves 20.5% Hashrate Increase, Mines 400 BTC in May

BitFuFu, a prominent Bitcoin mining firm, achieved a significant milestone in May, reaching a record hashrate of 34.1 exahashes per second (EH/s). This represents a 20.5% increase from the previous month, highlighting the company's expanding infrastructure and operational efficiency. The surge in hashrate was accompanied by a 91% increase in Bitcoin production, with the firm mining a total of 400 BTC. This substantial increase in production is a testament to BitFuFu's strategic investments in mining technology and infrastructure.

The majority of the 400 BTC produced came from cloud-mining clients, who generated 357 BTC, while the remaining 43 BTC was mined through BitFuFu’s self-mining operations. The increase in production was largely attributed to a full month’s use of additional machines deployed in late April. Furthermore, more hardware was added at the end of May, setting the stage for potential gains in June. The hashrate under management now includes 4.2 EH/s of self-owned capacity and 29.9 EH/s sourced from partners and customers. The average fleet efficiency stands at 19.1 joules per terahash, with a total power capacity of 651 megawatts spread across sites on five continents.

In addition to its record hashrate and production, BitFuFu resumed selling Bitcoin in May after a four-month pause. The firm offloaded 178 BTC at an average price of $104,000, a move timed around Bitcoin’s all-time high. This strategic sale helped the company cover expenses and reinforce its balance sheet. As a result, BitFuFu now holds 1,709 BTC, down from 1,908 BTC at the end of April. CEO Leo Lu emphasized the company's commitment to long-term Bitcoin exposure while maintaining a flexible approach to treasury management.

BitFuFu's total power capacity also expanded by 15.0% to 651 MW as of May 31, 2025. This increase in power capacity is crucial for supporting the elevated hashrate and ensuring the sustainability of mining operations. The expansion of power capacity aligns with BitFuFu's commitment to empowering the global Bitcoin network through innovative mining services and a rapidly scaling infrastructure. The company's strategic initiatives and industry-leading cloud mining platform have positioned it as a key player in the Bitcoin mining industry. Despite financial risks such as high leverage and negative cash flows, BitFuFu's strong revenue growth and optimistic earnings call sentiment provide a balanced outlook for the company's future. The company's reasonable valuation and strategic initiatives continue to drive its growth and market presence.