BitFuFu's Q2 2025 Earnings Call: Contradictions in Revenue Growth, Cloud Mining, and Capacity Expansion

Revenue growth and financial performance, cloud mining revenue growth, revenue and financial growth, mining capacity and hosting capacity expansion are the key contradictions discussed in BitFuFu's latest 2025Q2 earnings call.



Revenue and Profitability Growth:
- BitFuFu Inc. reported total revenue of $115.4 million in Q2, a 47.9% increase from $78 million in Q1, with adjusted EBITDA reaching $60.7 million and net income of $47.1 million.
- The growth was driven by increased demand for cloud mining solutions, rising Bitcoin prices, and continued upgrades to the mining fleet.

Mining Capacity and Hosting Expansion:
- The company's total managed mining capacity reached 36.2 exahashes per second, setting a new record and placing it among leaders in the U.S. public mining industry.
- Hosting capacity reached a record 728 megawatts. The expansion was fueled by strong demand for cloud mining and mastering the entire supply chain from fuel to electricity.

Cost Management and Energy Efficiency:
- Average energy costs for proprietary mining operations fell to $0.036 to $0.042, with prices as low as $0.0314 at African mining farms.
- The company achieved excellent results in cost control and energy efficiency by optimizing BitFuFu OS overclocking technology and firm