GlobeNewswire·May 29, 2026, 6:00 AM ET

BitFuFu Reports Unaudited First Quarter 2026 Financial Results

BitFuFu Inc. reported first quarter 2026 total revenue of $72.7 million, a 6.8% decrease from $78.0 million in the same period of 2025.
Cloud Mining Solutions revenue increased 7.1% to $57.5 million, representing 79.1% of total revenue.
Self-mining operations revenue declined to $11.4 million from $17.6 million due to higher network difficulty & a lower average Bitcoin price of $76,500.
Mining equipment sales revenue was nil in Q1 2026 compared to $6.0 million in Q1 2025.
The company reported a net loss of $35.0 million, compared to a net loss of $16.9 million in Q1 2025.
Adjusted EBITDA was negative $34.4 million, significantly impacted by a $35.6 million non-cash fair value loss on digital assets.
Total hashrate under management increased 25.7% to 25.9 EH/s as of March 31, 2026.
Power capacity decreased to 457 MW as of March 31, 2026, from 478 MW in the prior year period.
Bitcoin holdings decreased 2.2% to 1,794 BTC as of March 31, 2026.
Combined cash, cash equivalents, & digital assets totaled $141.5 million as of March 31, 2026.
Cost of revenue increased 1.0% to $72.3 million, driven by higher third-party hashrate costs.
Operating expenses for sales, general administrative, & R&D were $0.4 million, $1.9 million, & $0.4 million respectively.
A conference call regarding these results is scheduled for 8:00 A.M. U.S. Eastern Time on May 29, 2026.