BitFuFu Q2 revenue up 47.9% to $115.4mln, driven by cloud-mining growth.

• BitFuFu Q2 2025 revenue up 47.9% to $115.4mln • Cloud mining solutions revenue $94.38mln (81.7%) • Self-mining operations revenue $14.81mln (12.8%) • Mining equipment sales revenue $5.24mln (4.5%) • Other revenue $1.11mln (1.0%)

BitFuFu Inc. (NASDAQ: FUFU), a leading Bitcoin mining company, has reported its unaudited financial results for the second quarter of 2025, showing impressive growth despite the industry-wide challenges posed by the April 2024 Bitcoin halving event. The company's revenue reached $115.4 million, marking a 47.9% quarter-over-quarter (QoQ) increase. This robust performance was driven primarily by cloud mining solutions, which accounted for 81.7% of total revenue at $94.3 million, up 22.3% year-over-year (YoY).

Self-mining operations revenue decreased significantly by 71.0% to $14.8 million, reflecting the impact of the halving event and the company's strategic shift towards cloud mining. Mining equipment sales revenue grew to $5.2 million, a substantial increase from $0.1 million in the same period last year. Other revenue stood at $1.1 million.

The company's net income surged to $47.1 million, though a significant portion of this ($39.6 million) came from unrealized fair value gains from Bitcoin price appreciation rather than operational earnings. Adjusted EBITDA rose to $60.7 million, up from $8.3 million in Q2 2024, indicating substantial operational growth.

Operational metrics also showed significant scaling, with total mining capacity increasing 46.6% to 36.2 EH/s and hosting capacity expanding to 728 MW. Registered users grew 57.7% to 623,114, while Bitcoin holdings increased to 1,792 BTC. The net dollar retention rate of 59.5% indicates that while BitFuFu maintains a substantial portion of its customer base, there's room for improvement in customer retention or spending growth among existing clients.

The company's financial position remains solid, with combined cash and digital assets of $211.4 million, up 25.8% from year-end 2024. Their Bitcoin holdings of 1,792 BTC (including 678 BTC used as collateral) represent a modest 4.1% YoY increase.

BitFuFu's management team will hold an earnings conference call on August 15, 2025, to discuss these results in more detail. For more information, visit [BitFuFu's Investor Relations website](https://ir.bitfufu.com).

References:
[1] https://www.stocktitan.net/news/FUFU/bit-fu-fu-reports-unaudited-second-quarter-2025-financial-yyuoghn9uiu1.html