Bitfufu Inc. (FUFU)
NASDAQ:FUFU
Want to see FUFU full AI Analyst Report?
Top Page
BitFuFu
(NASDAQ:FUFU)
Select Model
Select Model
Rating:48Neutral
Price Target:
$1.50
▼(-39.27% Downside)
Action:Reiterated
Date:06/01/26
The score is held back primarily by weak financial performance—especially sustained cash burn, a 2025 swing to losses, and higher leverage—alongside bearish technical signals with the stock below key moving averages and negative MACD. The earnings call adds some support via operational efficiency and liquidity discipline, but valuation is only modestly supportive given the loss-making P/E and no dividend.
Positive Factors
Cloud mining revenue & retention
A high-share, subscription-like cloud mining business with 79.1% of revenue and 85.7% net dollar retention creates recurring, lower-capex revenue. This reduces reliance on capital‑intensive self-mining and supports more predictable revenue and customer lifetime value over quarters.
Negative Factors
Weak cash generation
Consistently large negative operating and free cash flows over multiple years erode liquidity and force reliance on external funding, asset sales, or revolver draws. That undermines the firm's capacity to self-fund capex, smooth operations, or absorb extended weak Bitcoin cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Cloud mining revenue & retention
A high-share, subscription-like cloud mining business with 79.1% of revenue and 85.7% net dollar retention creates recurring, lower-capex revenue. This reduces reliance on capital‑intensive self-mining and supports more predictable revenue and customer lifetime value over quarters.
Read all positive factors
BitFuFu (FUFU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$268.31M
Dividend YieldN/A
Average Volume (3M)256.00K
Price to Earnings (P/E)―
Beta (1Y)1.04
Revenue Growth18.94%
EPS Growth-2819.27%
CountryUS
Employees34
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)-0.19
Shares Outstanding31,653,599
10 Day Avg. Volume313,168
30 Day Avg. Volume256,002
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)3.01
Price to Sales (P/S)0.91
P/FCF Ratio-3.08
Enterprise Value/Market Cap1.06
Enterprise Value/Revenue0.60
Enterprise Value/Gross Profit9.84
Enterprise Value/Ebitda38.87
Forecast
1Y Price Target
$3.50Price Target Upside41.70% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.04
Revenue Forecast (FY)$396.22M
BitFuFu Business Overview & Revenue Model
Company Description
BitFuFu Inc., a company operating out of Singapore, specializes in providing solutions for digital asset mining, encompassing both direct and cloud-based services. The firm further supports a diverse clientele, ranging from major institutions to i...
How the Company Makes Money
BitFuFu primarily makes money through two core revenue streams: (1) Self-mining: the company deploys and operates bitcoin mining hardware to mine Bitcoin for its own account, earning bitcoin block rewards and transaction fees (denominated in BTC) ...
BitFuFu Earnings Call Summary
Earnings Call Date:May 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 25, 2026
Earnings Call Sentiment Neutral
The call emphasized disciplined execution: cloud mining growth, strong customer retention (NDR 85.7%), notable efficiency gains (17.7 J/TH) and a path to improved cost structure and liquidity. Offsetting these positives were a meaningful GAAP net loss driven by $35.6M of fair value losses, a 35.2% decline in self-mining revenue, and a 6.8% drop in total revenue. Management framed the results as largely operationally sound beneath market-driven, non-cash accounting impacts and highlighted actions to preserve liquidity and selectively scale. Overall, the tone was constructive but cautious, balancing operational progress against significant market-driven headwinds.Positive Updates
Cloud Mining Revenue Growth and Mix
Cloud mining revenue of $57.5 million, up 7.1% year-over-year, and representing 79.1% of total revenue, demonstrating resilience and the platform's centrality to the business model.
Negative Updates
Large GAAP Net Loss Driven by Fair Value Impacts
Reported net loss of $35.0 million in Q1 2026 versus a loss of $16.9 million in Q1 2025; fair value losses on Bitcoin holdings and digital asset receivables/payables contributed $35.6 million to the loss.
Read all updates
Q1-2026 Updates
Positive
Negative
Cloud Mining Revenue Growth and Mix
Cloud mining revenue of $57.5 million, up 7.1% year-over-year, and representing 79.1% of total revenue, demonstrating resilience and the platform's centrality to the business model.
Read all positive updates
Company Guidance
Management's guidance for Q2–Q3 is a disciplined, capital‑efficient push to “optimize procurement” by increasing the mix of longer‑term 360‑day hashrate contracts (while keeping short‑term agreements the majority) so that total managed hashrate may remain relatively stable by year‑end; they plan to lock in cost‑effective long‑term hashrate in a lower Bitcoin price environment, selectively evaluate real‑world assets and energy opportunities, and avoid equity issuance while funding growth with operating cash flow, selective Bitcoin sales and the $100M revolver (Q1 draw $50M, subsequently reduced to $5M). Operational priorities emphasize cloud mining (Q1 cloud revenue $57.5M, 79.1% of revenue; cloud net dollar retention 85.7%), continued reduction of self‑mining (Q1 self‑mining $11.4M, down 35.2% YoY), and efficiency gains (fleet efficiency 17.7 J/TH vs 23.2 J/TH a year ago; power capacity 457 MW at quarter end vs 478 MW start of year) coupled with cost realignment (Q1 cost of revenue $72.3M despite revenue down 6.8% YoY) to drive margin improvement (adjusted EBITDA ~+$1.1M excluding $35.6M fair‑value losses) while preserving liquidity (cash + digital assets $141.5M; 1,794 BTC held, 357 BTC pledged).BitFuFu Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
56
Neutral
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 477.53M | 463.33M | 284.11M | 198.20M | 103.04M |
| Gross Profit | 28.93M | 29.72M | 12.71M | 36.23M | 9.03M |
| EBITDA | 7.33M | 92.69M | 42.71M | 22.45M | 5.53M |
| Net Income | -31.25M | 53.96M | 10.49M | 2.44M | 4.93M |
Balance Sheet | |||||
| Total Assets | 357.58M | 377.68M | 210.03M | 198.34M | 116.30M |
| Cash, Cash Equivalents and Short-Term Investments | 28.28M | 38.20M | 32.01M | 60.43M | 13.31M |
| Total Debt | 113.16M | 34.95M | 2.38M | 109.44M | 105.00K |
| Total Liabilities | 207.98M | 215.22M | 192.70M | 191.50M | 111.46M |
| Stockholders Equity | 144.10M | 162.46M | 17.33M | 6.84M | 4.83M |
Cash Flow | |||||
| Free Cash Flow | -140.99M | -236.74M | -196.04M | -22.12M | 180.31K |
| Operating Cash Flow | -112.93M | -219.87M | -195.97M | -7.44M | 15.93M |
| Investing Cash Flow | 89.84M | 167.93M | 176.90M | 56.67M | -2.61M |
| Financing Cash Flow | 5.74M | 65.05M | -9.35M | -2.11M | 0.00 |
BitFuFu Technical Analysis
Negative
2.47
Price Trends
2.06
Negative
2.24
Negative
2.78
Negative
Market Momentum
-0.11
Positive
45.93
Neutral
22.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FUFU, the sentiment is Negative. The current price of 2.47 is above the 20-day moving average (MA) of 1.90, above the 50-day MA of 2.06, and below the 200-day MA of 2.78, indicating a bearish trend. The MACD of -0.11 indicates Positive momentum. The RSI at 45.93 is Neutral, neither overbought nor oversold. The STOCH value of 22.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FUFU.
BitFuFu Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
50 Neutral | $911.43M | -6.07 | -29.72% | ― | 1310.53% | 70.57% | |
48 Neutral | $268.31M | -6.18 | -29.52% | ― | 18.94% | -2819.27% | |
48 Neutral | $607.59M | -3.71 | -0.14% | ― | 13.14% | 4.89% | |
47 Neutral | $56.25M | ― | -72.86% | 1.65% | 219.08% | 7.90% | |
47 Neutral | $7.73M | -0.32 | ― | ― | ― | ― |
* Financial Sector Average
FUFU
BitFuFu
1.83
-1.38
-42.99%
BTCS
BTCS
1.20
-1.16
-49.22%
ABTC
American Bitcoin Corp
0.85
-3.76
-81.50%
BTBT
Bit Digital
1.93
-0.50
-20.58%
ARBK
Argo Blockchain
3.95
-77.57
-95.15%
BitFuFu Corporate Events
BitFuFu Boosts May Bitcoin Output and Shifts Sharply Toward Self-Mining
Jun 9, 2026
BitFuFu reported unaudited operational results for May 2026 on June 9, 2026, highlighting a 22.1% month-over-month increase in Bitcoin production to 177 BTC, driven largely by easing power curtailments at its Ethiopian facilities. The company̵...
BitFuFu Posts Wider Q1 2026 Loss as Bitcoin Slide Hits Self-Mining Margins
May 29, 2026
BitFuFu reported unaudited results for the quarter ended March 31, 2026, showing revenue of $72.7 million, down 6.8% year over year as declines in self-mining and mining equipment sales outweighed growth in cloud mining and hosting. The company po...
BitFuFu Reports Lower April Bitcoin Output as It Cuts Third-Party Hashrate, Builds BTC Holdings
May 14, 2026
On May 14, 2026, BitFuFu reported unaudited operational metrics for April 2026, showing a sharp month-on-month decline in Bitcoin production to 145 BTC from 214 BTC. The drop was driven by an unexpected power outage at its Ethiopia facility and a ...
BitFuFu Posts March 2026 Bitcoin Production, Tweaks Mining Fleet for Efficiency
Apr 10, 2026
BitFuFu reported unaudited operating metrics for March 2026 on April 10, detailing Bitcoin production, hashrate and power capacity across its self-mining and cloud mining businesses. The company produced 214 BTC in the month, ended March with 1,79...
BitFuFu Posts 2025 Loss Despite Revenue Growth as Cloud Mining Surges
Mar 20, 2026
On March 20, 2026, BitFuFu reported preliminary, unaudited results for 2025 showing total revenue rose 2.7% year over year to $475.8 million, as strong growth in cloud mining, equipment sales and hosting offset weaker self-mining revenue amid high...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.