BitFuFu (FUFU) AI Stock Analysis

• Market Cap: $509.44M
• Dividend Yield: N/A
• Average Volume (3M): 81.43K
• Price to Earnings (P/E): 7.8
• Beta (1Y): 1.03
• Revenue Growth: 29.96%
• EPS Growth: 66.09%
• Country: US
• Employees: 34
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 0.07
• Shares Outstanding: 31,482,302
• 10 Day Avg. Volume: 71,477
• 30 Day Avg. Volume: 81,427
• PEG Ratio: <0.01
• Price to Book (P/B): 4.91
• Price to Sales (P/S): 1.72
• P/FCF Ratio: -3.37
• Enterprise Value/Market Cap: 1.27
• Enterprise Value/Revenue: 1.73
• Enterprise Value/Gross Profit: 24.50
• Enterprise Value/Ebitda: 12.38
• 1Y Price Target: $6.17
• Price Target Upside: 107.74% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 0.23
• Revenue Forecast (FY): $602.44M

• Rating: 68 Neutral
• Price Target: $3.50 ▲(17.85% Upside)

The score is driven primarily by financial performance: strong revenue growth is offset by negative free cash flow and leverage risk. Technicals are supportive with strong momentum, and valuation is helped by a low P/E, but the lack of dividend data and cash-flow weakness keep the overall score in the upper-middle range.

Positive Factors

Revenue Growth Trend

Sustained, multi-year top-line expansion demonstrates the company's ability to scale its dual business model (self-mining and cloud/hosted services). Durable revenue growth supports reinvestment in miners and capacity, strengthens supplier relationships, and improves long-term competitive positioning.

Improving Gross Margins

Rising gross margins indicate better cost management, likely from more efficient fleet mix and improved hosting/service economics. Sustained margin improvement enhances resilience to BTC price swings and provides more internal capital to fund miner refresh cycles and expansion without immediate external funding.

Scale and Production Capacity

Material production, sizeable hashrate and an inventory of mined BTC reflect meaningful scale in mining operations. Scale lowers unit costs, improves bargaining power with equipment and power providers, and creates a buffer of mined assets that can be used strategically for liquidity or reinvestment over cycles.

Negative Factors

Negative Free Cash Flow

Persistent negative free cash flow weakens the firm’s ability to self-fund miner purchases, facility upgrades, and expansion. Over months this forces reliance on external financing or BTC sales, raising refinancing risk and potentially increasing dilution or hindering timely hardware refreshes that sustain competitiveness.

Rising Leverage Risk

Increasing leverage raises fixed obligations and reduces financial flexibility in a capital-intensive business. Higher debt amplifies sensitivity to BTC price drops or operational disruptions, may constrain capital allocation for efficiency upgrades, and elevates refinancing and covenant risks over the medium term.

Inconsistent Profitability and Margin Volatility

Volatile operating profitability signals exposure to cycle-driven factors (network difficulty, miner age, power curtailments). This reduces earnings predictability, complicates long-term planning and capital expenditure decisions, and increases the chance management must prioritize short-term liquidity over strategic investments.

BitFuFu Business Overview & Revenue Model

Company Description

BitFuFu Inc. provides digital asset mining and cloud-mining services in Singapore. It also offers miner rental, and miner hosting and sales services to institutional customers and individual digital asset enthusiasts. The company is based in Singapore, Singapore.

How the Company Makes Money

BitFuFu makes money primarily through its cloud mining services, where customers pay for contracts to lease mining power. These contracts vary in terms of duration and the type of cryptocurrency being mined, with prices reflecting the current market conditions and the expected profitability of mining operations. The company generates revenue by charging fees for these contracts, which may include a portion of the mined cryptocurrency or a fixed fee structure. Additionally, BitFuFu may benefit from strategic partnerships with hardware manufacturers and energy suppliers, enabling them to optimize operational costs and maximize profitability. Revenue can also be influenced by fluctuations in cryptocurrency prices, as higher prices can increase the demand for mining contracts.

BitFuFu Financial Statement Overview

Summary

Strong multi-year revenue growth and improving gross margin support the score, but inconsistent profitability, rising leverage risk, and negative free cash flow/weak operating cash generation materially reduce overall financial quality.

Income Statement

BitFuFu shows a strong revenue growth trend with a significant increase from $122,120 in 2020 to $463,330,000 in 2024, reflecting a compound annual growth rate driven by its strategic initiatives. The gross profit margin improved over the years, indicating better cost management. However, EBIT and net profit margins were inconsistent, with negative EBIT in earlier years turning positive in 2023, suggesting volatility in operational efficiency and profitability.

Balance Sheet

The company's balance sheet reflects a strong equity base with stockholders' equity growing significantly, enhancing financial stability. However, the debt-to-equity ratio remains a concern, with debt rising over time, indicating potential leverage risk. Despite this, the equity ratio improved, pointing towards a more equity-financed structure. The company needs to manage its liabilities prudently to maintain financial health.

Cash Flow

Free cash flow has been negative, with substantial cash outflows from operating activities, indicating challenges in generating cash from core operations. While investing and financing activities show positive cash flows in recent years, reliance on external funds may not be sustainable long-term. The operating cash flow to net income ratio suggests inefficiencies in converting income into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	374.11M	463.33M	284.11M	198.20M	103.04M	1.23M
Gross Profit	26.47M	29.72M	12.71M	36.23M	9.03M	139.72K
EBITDA	52.39M	92.69M	42.71M	22.45M	5.53M	0.00
Net Income	41.80M	53.96M	10.49M	2.44M	4.93M	-1.11M
Balance Sheet
Total Assets	500.34M	377.68M	210.03M	198.34M	116.30M	1.38M
Cash, Cash Equivalents and Short-Term Investments	32.63M	38.20M	32.01M	60.43M	13.31M	0.00
Total Debt	191.51M	34.95M	0.00	109.44M	0.00	0.00
Total Liabilities	282.19M	215.22M	192.70M	191.50M	111.46M	1.47M
Stockholders Equity	218.15M	162.46M	17.33M	6.84M	4.83M	-92.17K
Cash Flow
Free Cash Flow	0.00	-236.74M	-196.04M	-22.12M	180.31K	0.00
Operating Cash Flow	0.00	-219.87M	-195.97M	-7.44M	15.93M	0.00
Investing Cash Flow	0.00	167.93M	176.90M	56.67M	-2.61M	0.00
Financing Cash Flow	0.00	65.05M	-9.35M	-2.11M	0.00	0.00

BitFuFu Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.97
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 2.97 is below the 20-day moving average (MA) of 3.05, above the 50-day MA of 2.91, and below the 200-day MA of 3.47, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 48.65 is Neutral, neither overbought nor oversold. The STOCH value of 16.38 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FUFU.

BitFuFu Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FUFU	68 Neutral	$509.44M	7.80	38.27%	―	29.96%	66.09%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
BTBT	64 Neutral	$718.56M	5.57	22.44%	―	9.52%	496.04%
BTCS	56 Neutral	$128.34M	3.80	43.45%	1.65%	482.50%	82.04%
BTM	55 Neutral	$81.41M	9.15	1375.23%	―	8.60%	―
ABTC	42 Neutral	$1.47B	-2.08	-2.75%	―	―	―
ARBK	39 Underperform	$7.95M	-0.02	―	―	-13.86%	-32.19%

BitFuFu Corporate Events

BitFuFu Posts December 2025 Bitcoin Output and Liquidity Gains

On January 7, 2026, BitFuFu reported unaudited Bitcoin production and operational metrics for December 2025, during which it produced 188 BTC, including 151 BTC from cloud mining and 37 BTC from self-mining, and held a total of 1,780 BTC, up 16 BTC from November 30, 2025. The company reduced its pledged Bitcoin balance from 620 BTC to 274 BTC, improving its liquidity and financial flexibility, while maintaining a total hashrate under management of 26.1 EH/s, average fleet efficiency of 18.3 J/TH, and power capacity under management of 478 MW; it also highlighted full-year 2025 production of 3,662 BTC and plans to engage investors at the DealFlow Discovery Conference in Atlantic City on January 28–29, 2026, underscoring its scale and positioning in the Bitcoin mining industry.

The most recent analyst rating on (FUFU) stock is a Buy with a $6.00 price target. To see the full list of analyst forecasts on BitFuFu stock, see the FUFU Stock Forecast page.

BitFuFu Reports November 2025 Bitcoin Production and Strategic Upgrades

In November 2025, BitFuFu Inc. reported a strategic shift in its operations, accelerating the sale of older S19 series miners and replacing them with next-generation S21 miners. This transition temporarily reduced their total hashrate under management by 13.4%, but positions the company for more efficient mining in the future. BitFuFu also sold 205 BTC to manage supplier obligations amid market volatility, maintaining a disciplined approach to treasury practices. The company is focused on profitability across market cycles and is exploring global expansion opportunities to diversify its cost base and support growth.

The most recent analyst rating on (FUFU) stock is a Buy with a $6.00 price target. To see the full list of analyst forecasts on BitFuFu stock, see the FUFU Stock Forecast page.

BitFuFu Reports Strong Q3 2025 Financial Results with 100% Revenue Growth

BitFuFu Inc. announced its unaudited financial results for the third quarter of 2025, revealing a significant year-over-year revenue growth of 100.1% to $180.7 million. This growth was driven by increased demand for cloud-mining solutions and mining equipment, as well as an expansion in mining capacity. The company reported a net income of $11.6 million, a substantial improvement from a net loss in the same period of 2024. BitFuFu’s strategic dual-engine model, combining cloud-mining revenue with self-mining operations, has allowed it to manage volatility and sustain profitability. The company’s strong financial performance and increased operational capacity position it favorably in the competitive Bitcoin mining industry.

The most recent analyst rating on (FUFU) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on BitFuFu stock, see the FUFU Stock Forecast page.

BitFuFu Reports October 2025 Bitcoin Production and Operational Updates

In October 2025, BitFuFu Inc. experienced fluctuations in its managed hashrate due to the expiration of a third-party contract, while maintaining its self-owned hashrate. The company produced 253 BTC, with a decrease in total hashrate under management by 15.3% month-over-month, attributed to increased network difficulty and power curtailment programs. Despite these challenges, BitFuFu expanded its cloud mining user base and announced a new miner purchase and hosting program, reflecting its strategic focus on meeting growing demand and optimizing operational efficiency.

The most recent analyst rating on (FUFU) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on BitFuFu stock, see the FUFU Stock Forecast page.