Latest news with #LeoLu
Yahoo
4 days ago
- Business
- Yahoo
BitFuFu Hits Record 34.1 EH/s Hashrate as Bitcoin Production Surges in May
Bitcoin mining firm BitFuFu posted a record-setting month in May, boosting its hashrate under management to 34.1 exahashes per second (EH/s) and producing 400 BTC, up 91% from April. Most of that production came from cloud-mining clients, who generated 357 BTC, while the remaining 43 BTC came from BitFuFu's self-mining operations. The increase was largely attributed to a full month's use of additional machines deployed in late April. More hardware was added at the end of May, setting the stage for potential gains in June. Hashrate under management jumped 20.5% from April and now includes 4.2 EH/s of self-owned capacity and 29.9 EH/s sourced from partners and customers. Average fleet efficiency stands at 19.1 joules per terahash, while total power capacity reached 651 megawatts, spread across sites on five continents. BitFuFu also resumed selling bitcoin in May after a four-month pause, offloading 178 BTC at an average price of $104,000. That move, timed around bitcoin's all-time high, helped the firm cover expenses and reinforce its balance sheet. The Singapore-based firm now holds 1,709 BTC, down from 1,908 BTC at the end of April. CEO Leo Lu said BitFuFu remains committed to long-term Bitcoin exposure while maintaining a flexible approach to treasury management.
Associated Press
5 days ago
- Business
- Associated Press
BitFuFu Announces May 2025 Bitcoin Mining and Operation Updates, Highlighting Record Hashrate of 34.1 EH/s
SINGAPORE, June 04, 2025 (GLOBE NEWSWIRE) -- BitFuFu Inc. ('BitFuFu' or the 'Company') (NASDAQ: FUFU), a world-leading Bitcoin miner and mining services innovator, today announced its unaudited production and mining operation updates for May 2025. 'To meet the continued strong demand for cloud mining services, in May we further expanded our hashrate and power capacity to record levels of 34.1 EH/s and 651 MW, respectively,' said Leo Lu, Chairman and CEO of BitFuFu. 'In May 2025 alone, BitFuFu mined 400 BTC, including 357 BTC mined by our cloud-mining customers. The significant increase in Bitcoin production in May, up 91.4% month-over-month, directly reflects a full month's contribution from the additional hashrate purchased in late April. Similarly, the new hashrate acquired at the end of May is expected to position the Company for another strong increase in Bitcoin production in June, as Bitcoin productions benefit from this expanded capacity throughout the entire month.' Lu continued, 'Consistent with our disciplined treasury management strategy, after suspending Bitcoin sales for almost four months, we opportunistically sold 178 BTC at an average price of $104,000 during the recent all-time high in May. These strategic sales enabled us to capitalize on favorable market conditions, efficiently cover operational expenses, and strengthen our liquidity. Our long‑term conviction in Bitcoin is unchanged, and we will continue to hold a substantial balance while managing the business responsibly.' May 2025 Highlights ( as of May 31, 2025 ) Bitcoin Holdings and Production Hashrate Overview Power and Infrastructure Mining Services About BitFuFu Inc. BitFuFu Inc. is a world-leading Bitcoin miner and mining services innovator. BitFuFu is committed to empowering the global Bitcoin network through its industry-leading cloud mining platform, rapidly scaling infrastructure, and innovative mining services. For more information, visit or follow BitFuFu on X @ BitFuFuOfficial. Forward-Looking Statements This press release includes 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as 'estimate,' 'plan,' 'project,' 'forecast,' 'intend,' 'will,' 'expect,' 'anticipate,' 'believe,' 'seek,' 'target' or other similar expressions that predict or indicate future events or trends. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of BitFuFu's management and are not predictions of actual performance. These statements involve risks, uncertainties and other factors that may cause BitFuFu's actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by these forward-looking statements. Although the Company believes that it has a reasonable basis for each forward-looking statement contained in this press release, the Company cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. All information provided in this press release is as of the date of this press release and the Company does not undertake any duty to update such information, except as required under applicable law. For investor inquiries, please contact: For general inquiries, please contact: BitFuFu Media Relations: [email protected] 1 Includes 689 BTC pledged for loans and miner procurement payables and excludes BTC produced by cloud mining customers 2 Hashrate may be used for both self-mining and cloud-mining
Hamilton Spectator
07-05-2025
- Business
- Hamilton Spectator
BitFuFu Announces Sponsorship and Featured Speaker Appearance at Bitcoin 2025
SINGAPORE, May 07, 2025 (GLOBE NEWSWIRE) — BitFuFu Inc. ('BitFuFu' or the 'Company') (NASDAQ: FUFU), a world-leading Bitcoin miner and mining services innovator, is proud to announce its sponsorship of Bitcoin 2025, the world's largest Bitcoin event, taking place May 27–29, 2025 in Las Vegas, Nevada. As part of this presence, Charley Brady, Vice President of Investor Relations at BitFuFu, will also participate as a featured speaker, joining thought leaders from across the Bitcoin ecosystem to discuss cloud mining. Bitcoin 2025 is expected to draw more than 30,000 attendees, 5,000 companies, and over 400 speakers from around the globe. Organized by BTC Inc., the event brings together developers, miners, investors, policy experts, and builders to chart the next phase of Bitcoin's evolution. 'We're excited to sponsor Bitcoin 2025 for the first time and help shape the conversation around Bitcoin's future,' said Leo Lu, Chairman and CEO of BitFuFu. 'Our mission has always been to make Bitcoin mining accessible to everyone through efficient, transparent, and secure mining solutions. Bitcoin 2025 provides the perfect platform to share our progress and vision.' BitFuFu will be on-site at Booth #711, showcasing its latest global deployment strategy, one-stop mining services, and proprietary technologies. Conference attendees will have the opportunity to engage with BitFuFu's team and gain insights into how cloud mining is transforming Bitcoin's infrastructure layer. Speaking Session Details: Session Name: How Virtualized Mining is Reshaping the Bitcoin Landscape Speaker: Charley Brady, Vice President of Investor Relations at BitFuFu Stage: Mining Stage Time & Date: May 27, 2025, from 10:30 AM – 11:00 AM PDT To learn more about BitFuFu's presence at Bitcoin 2025 or to schedule a meeting with the team, please contact pr@ . About BitFuFu Inc. BitFuFu Inc. is a world-leading Bitcoin miner and mining services innovator. BitFuFu is committed to empowering the global Bitcoin network through its industry-leading cloud mining platform, rapidly scaling data center infrastructure, and innovative mining services. For more information, visit or follow BitFuFu on X @BitFuFuOfficial . Forward-Looking Statements This press release includes 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as 'estimate,' 'plan,' 'project,' 'forecast,' 'intend,' 'will,' 'expect,' 'anticipate,' 'believe,' 'seek,' 'target' or other similar expressions that predict or indicate future events or trends. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of BitFuFu's management and are not predictions of actual performance. These statements involve risks, uncertainties and other factors that may cause BitFuFu's actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by these forward-looking statements. Although the Company believes that it has a reasonable basis for each forward-looking statement contained in this press release, the Company cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. All information provided in this press release is as of the date of this press release and the Company does not undertake any duty to update such information, except as required under applicable law. For investor inquiries, please contact: BitFuFu Investor Relations: ir@ Charley Brady, Vice President of Investor Relations: charley.b@ For general inquiries, please contact: BitFuFu Media Relations: pr@ A photo accompanying this announcement is available at
