Kevin Dede, an analyst from H.C. Wainwright, maintained the Buy rating on BitFuFu (FUFU – Research Report). The associated price target remains the same with $7.00.
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Kevin Dede has given his Buy rating due to a combination of factors that highlight BitFuFu’s strong growth potential and strategic positioning in the cryptocurrency mining industry. The company has demonstrated impressive execution by surpassing its 2025 year-end objectives well ahead of schedule, achieving a network hash rate of 34.1Eh/s and managing 651 MW of power by the end of May. This positions BitFuFu among the top-five publicly traded bitcoin miners, showcasing its scale and ambition.
Furthermore, BitFuFu’s transition to a hybrid model that integrates self-mining with expanded cloud services is a significant strategic move. The acquisition of facilities in Oklahoma and Ethiopia, along with the ramp-up of S21 series machines, enhances its vertical integration and positions the company to benefit from potential bitcoin price rallies. The substantial increase in cloud-mining registered users and the strong institutional client base further underscore the company’s robust demand and growth prospects. These factors, combined with BitFuFu’s unique international cloud business and strategic partnerships, underpin Kevin Dede’s optimistic outlook and Buy rating.
According to TipRanks, Dede is a 4-star analyst with an average return of 6.6% and a 40.73% success rate. Dede covers the Technology sector, focusing on stocks such as DeFi Technologies, Sphere 3D, and Canaan.
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