Quarterly ResultMay 29, 2026, 06:27 AM
BitFuFu Q1 2026 Revenue $72.7M, Net Loss $35.0M
AI Summary
BitFuFu Inc. reported unaudited financial results for the first quarter of 2026, with total revenue decreasing by 6.8% to $72.7 million. The company's net loss widened significantly to $35.0 million, compared to a net loss of $16.9 million in the same period of 2025. Adjusted EBITDA was negative $34.4 million, primarily due to a $35.6 million non-cash fair value loss resulting from a decrease in Bitcoin prices. Despite the financial setbacks, BitFuFu increased its total hashrate under management to 25.9 EH/s and maintained a combined balance of $141.5 million in cash and digital assets.
Key Highlights
- Total revenue was $72.7 million, a decrease of 6.8% from $78.0 million in Q1 2025.
- Net loss was $35.0 million, compared to a net loss of $16.9 million in Q1 2025.
- Adjusted EBITDA was negative $34.4 million, compared to negative $10.8 million in Q1 2025.
- Fair value loss on digital assets was $35.6 million, significantly impacting results.
- Cloud Mining Solutions revenue increased 7.1% to $57.5 million.
- Self-Mining Operations revenue decreased to $11.4 million from $17.6 million.
- Combined cash and digital assets were $141.5 million as of March 31, 2026.
- Total hashrate under management increased by 25.7% to 25.9 EH/s.
Price Impact
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