Business
BitFuFu Reports Unaudited First Quarter 2026 Financial Results
BitFuFu Reports Unaudited First Quarter 2026 Financial Results
About this update from Bitfufu Inc.
[{"type":"text","content":"SINGAPORE, May 29, 2026 (GLOBE NEWSWIRE) -- BitFuFu Inc. (“BitFuFu” or the “Company”) (NASDAQ: FUFU), a world-leading Bitcoin miner and mining services innovator, today announced its unaudited financial results for the quarter ended March 31, 2026. First Quarter 2026 Financial Highlights Total revenue was $72.7 million, a decrease of 6.8% from $78.0 million in the same period of 2025. Three Months Ended March 31, 2026 2025 Category ($ in millions) Revenue % ofRevenue Revenue % ofRevenue Cloud Mining Solutions $57.5 79.1% $53.7 68.8%Self-Mining Operations 11.4 15.7% 17.6 22.6%Mining Equipment Sales - 0.0% 6.0 7.7%Hosting Revenue and Others 3.8 5.2% 0.7 0.9%Total Revenue $72.7 100.0% $78.0 100.0% Net loss was $35.0 million, compared to net loss of $16.9 million in the same period of 2025.Adjusted EBITDA (a non-GAAP metric) was negative $34.4 million, which was significantly impacted by non-cash fair value loss of $35.6 million resulting from the decrease in the price of Bitcoin. This compared to negative $10.8 million in the same period of 2025, which included a fair value loss of $20.7 million.Combined balance of cash and cash equivalents and digital assets1 were $141.5 million as of March 31, 2026, compared to $177.1 million as of December 31, 2025. “During the first quarter, we continued to execute our dual-engine model, with Cloud Mining Solutions generating $57.5 million of revenue, representing approximately 79% of total revenue, while we expanded hashrate under management to 25.9 EH/s. While lower Bitcoin prices weighed on reported results through a fair value loss, we remained disciplined on cost, procurement, and capital allocation, and ended the quarter with a combined $141.5 million of cash and digital assets, which included 1,794 BTC on our balance sheet, preserving the flexibility to navigate volatility and invest through the cycle. Operationally, we continued improving fleet efficiency and optimizing our mining portfolio, including disposing of older-generation machines and managing our Bitcoin position in line with our treasury strategy, as we work toward refreshing capacity over time with newer, more energy-efficient equipment,” said Leo Lu, Chief Executive Officer and Chairman of the Board. 1The BTC collateral receivables are not included in the balance of digital assets; and BTC was measured at fair value in the ...