Quarterly ResultMay 29, 2026, 06:01 AM
BitFuFu Q1 Revenue Down 6.8% to $72.7M; Net Loss Widens to $35.0M
AI Summary
BitFuFu Inc. reported a 6.8% decrease in total revenue to $72.7 million for Q1 2026, down from $78.0 million in the prior year. The company's net loss significantly widened to $35.0 million, compared to a net loss of $16.9 million in Q1 2025, primarily due to a $35.6 million non-cash fair value loss on digital assets from declining Bitcoin prices. Despite the financial headwinds, Cloud Mining Solutions revenue grew 7.1% to $57.5 million, and total hashrate under management increased to 25.9 EH/s.
Key Highlights
- Total revenue decreased 6.8% to $72.7 million in Q1 2026 from $78.0 million in Q1 2025.
- Net loss widened to $35.0 million in Q1 2026, compared to $16.9 million in Q1 2025.
- Adjusted EBITDA was negative $34.4 million, significantly impacted by a $35.6 million fair value loss on digital assets.
- Cloud Mining Solutions revenue increased 7.1% to $57.5 million, representing 79.1% of total revenue.
- Self-Mining Operations revenue decreased to $11.4 million from $17.6 million due to higher network difficulty and lower BTC prices.
- Combined cash and digital assets were $141.5 million as of March 31, 2026, down from $177.1 million at year-end 2025.
- Total hashrate under management increased 25.7% to 25.9 EH/s as of March 31, 2026.
- BTC held by the Company decreased 2.2% to 1,794 BTCs as of March 31, 2026.
Price Impact
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