Bitfufu Inc. · NASDAQ:FUFU
Bitfufu — Investor Presentation (September 2024)
22 slides from Bitfufu's investor presentation, September 2024
Slide 1: BitFuFu Investor Presentation September 2024
€ BitFuFu BitFuFu NASDAQ: FUFU September 2024 THE FUTURE IS MINE
Slide 2: Disclaimer
BitFuFu Disclaimer This presentation does not constitute an offer to sell or issue or solicitation of an offer to buy or acquire securities of BitFuFu Inc. (the “Company”) in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be rel
Slide 3: Mission Statement
BitFuFu Mission Statement At BitFuFu, our mission is to make Bitcoin mining accessible to everyone. Through our innovative cloud-mining platform, we eliminate the barriers of high initial costs and technical complexity of traditional mining, enabling individuals and businesses to participate in the
Slide 4: BitFuFu: Introduction and milestones
BitFuFu BitFuFu: Introduction and milestones A fast-growing digital asset mining service and world-leading cloud-mining service provider headquartered in Singapore PIPE Customer 1H2024 Investment Recognition Earnings Dec 2020 Mar 2021 Jul 2021 Jan 2022 Dec 2023 Mar 2024 Hashrate selling Antpool & Bi
Slide 5: Investment Highlights
BitFuFu Investment Highlights Leading Bitcoin Miner Extensive Global Network • 522 MW • 25 Sites on 3 Continents • 24.7 EH/S • Leading Cloud-Mining Best-In-Class Mining Efficiency Service Provider • 21.1 J/TH Fleet Impressive Growth Strategic Partnerships with Industry Leaders Trajectory • BITMAIN,
Slide 6: Business Lines of BitFuFu
BitFuFu Business Lines of BitFuFu • Provide customers a one-stop solution to purchase hash calculation services and earn digital asset mining rewards Tech • Provide customers hosting services, Driven • Utilize third-party mining pools including deployment, monitoring, to mine BTC and receive mainten
Slide 7: BitFuFu manages a large-scale Hashrate network on three continents
BitFuFu BitFuFu manages a large-scale Hashrate network on three continents US Managed Farms 20MW 69MW 11MW 459MW 49MW 26MW 17MW 12MW 7MW 7MW 37MW 9MW 29MW 19MW 40MW 85MW 26MW 16MW 43MW 522MW in use 25 mining sites across multiple countries on Total Mining Capacity 3 continents, with large majority i
Slide 8: BitFuFu: A leading player in the industry
BitFuFu BitFuFu: A leading player in the industry Hashrate Under Management (EH/s） Hosting Capacity (MW） 31.8 1,100 24.7 23.3 22.3 960 21.2 895 18.0 762 522 557 BitFuFu Marathon Riot CleanSpark Bitdeer Hut 8 BitFuFu Marathon Riot CleanSpark Bitdeer Hut 8 Notes: 1. Source: Hashrate and Hosting Capaci
Slide 9: A track record of strong performance
BitFuFu A track record of strong performance 284 273 USD MN Revenue CAGR (2021-2023) 198 522 MW Hosting Capacity1 103 66% 2021 2022 2023 1H 2024 24.7 Eh/s Total Mining Capacity1 Hosting and Others Self-Mining Cloud-Mining USD MN Adj. EBITDA CAGR (2021-2023) 58.2 39.6 41.7 395,000+ Registered Users1
Slide 10: Continuous Growth in scale and efficiency
BitFuFu Continuous Growth in scale and efficiency 700 644 35.0 Hosting Capacity (MW) 600 30.0 Mining Capacity Under 513 515 522 Management (EH/S) 500 28.6 25.0 24.7 374 400 336 339 22.9 20.0 300 18.8 15.0 214 15.2 188 13.9 200 11.1 10.0 100 100 6.5 5.0 5.4 3.0 0 0.0 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q2
Slide 11: Strong strategic alliances with industry leaders
BitFuFu Strong strategic alliances with industry leaders Miner Supply Operations Mining Farms • Bitmain΄s S-level client, the Marketing • Maintenance center to • 10-year 300MW miner highest-level client • Global marketing improve operational hosting capacity ensuring access to various collaboration
Slide 12: Supply-chain advantage for machine purchases and large-scale distributed Hashrate network
BitFuFu Supply-chain advantage for machine purchases and large-scale distributed Hashrate network Hashrate Competitive Terms Large-Scale Distributed Hashrate Network Procure mining machine at preferential payment terms or delivery schedule from Reduce concerns over geopolitical strategic alliance wi
Slide 13: Cloud-Mining
BitFuFu Cloud-Mining PAGE 13
Slide 14: Cloud-Mining: How it works and its value proposition
BitFuFu Cloud-Mining: How it works and its value proposition Customer 1. Purchase or lease mining machines 1. Purchase a suitable product 2. Host and manage the miners to start mining Online 3. Connect miners to the mining pool 2. Select mining pool and 4. Cluster all miners’ Hashrate provide wallet
Slide 15: Cloud-Mining: Competitive advantages over traditional mining
BitFuFu Cloud-Mining: Competitive advantages over traditional mining Obtain more BTC with lower price Use installment payment to leverage ROI • On an annual basis, get 3% ~ 20% 1 more BTC with Pay down payment as low as 30% 2 with installment plan cloud-mining than buy at market price Start mining B
Slide 16: Cloud-Mining obtains more Bitcoin than traditional ways
BitFuFu Cloud-Mining obtains more Bitcoin than traditional ways Real Example: $8,199 Investment after 30 days Buy Mining Machine Buy Bitcoin Buy Hashrate Hashrate 468.5T 5,000T Vs. Bitcoin 0.01134525 BTC vs. 0.11881214 BTC vs. 0.12107686 BTC 1.91% More BTC in 30 days A real example of a BitFuFu cust
Slide 17: Self-Mining: How it works at BitFuFu
BitFuFu Self-Mining: How it works at BitFuFu BitFuFu purchases BitFuFu purchases mining Hashrate from various machines from suppliers and suppliers, and connects hosts them in mining them to mining pools Facilities Hashrate Mining machines • Consolidate Hashrate and utilize it to mine Bitcoin for Bi
Slide 18: Advanced proprietary technology to deliver operational excellence
BitFuFu Advanced proprietary technology to deliver operational excellence Mining Platform • Aladdin is BitFuFu΄s proprietary ultra-large scale hashrate management and dispatching system Scalable Capability Aladdin 100,000,000+ • Aladdin consists of three core systems: Capable of managing millions of
Slide 19: Appendix
Appendix PAGE 19
Slide 20: 1H 2024 operational highlights
BitFuFu 1H 2024 operational highlights Bitcoin Production 1H 2024 Amount 1H 2023 Amount Year-Over-Year Change Self-Mined Bitcoin (# BTC) 1,883 2,253 -370 Cloud-Mined Bitcoin by Customers (# BTC) 3,368 3,167 201 Q2 2024 Total Bitcoin Mined (#BTC） 5,251 5,420 -169 Average BTC produced per day by Custo
Slide 21: Unaudited Reconciliation of GAAP and non-GAAP Results
BitFuFu Unaudited Reconciliation of GAAP and non-GAAP Results in $US '000 1H 2024 FY2023 FY2022 FY2021 Net profit $36,639 $10,494 $2,443 $4,926 Add: Interest expenses/(income), net 1,938 4,481 2,174 (135) Add: Income tax expense/(benefit) 7,439 2,183 (666) 1,044 Add: Depreciation 12,194 24,501 18,15
Slide 22: Thank You!
• BitFuFu Thank You! Investor Contact: Vice President, Investor Relations CFO Email: charley.b@bitfufu.com Email: calla.zhao@bitfufu.com Website: ir.bitfufu.com PAGE 22