BitFuFu initiated with a Buy at B. Riley

B. Riley initiated coverage of BitFuFu (FUFU) with a Buy rating and $7.31 price target The firm says BitFuFu is a bitcoin mining company that provides cloud mining services to a broad range of customers. The company also has a growing self-mining footprint and looks to expand its ownership of power infrastructure in the coming quarters, the analyst tells investors in a research note. Riley says BitFuFu has a leadership position in cloud mining, a diversified revenue model, and a scalable platform.