BitFuFu (FUFU) AI Stock Analysis

• Market Cap: $667.11M
• Dividend Yield: N/A
• Average Volume (3M): 725.97K
• Price to Earnings (P/E): 14.5
• Beta (1Y): 0.81
• Revenue Growth: 39.84%
• EPS Growth: -10.81%
• Country: US
• Employees: 34
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 0.28
• Shares Outstanding: 28,106,615
• 10 Day Avg. Volume: 386,717
• 30 Day Avg. Volume: 725,973
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.79
• Enterprise Value/Revenue: 1.13
• Enterprise Value/Gross Profit: 17.67
• Enterprise Value/Ebitda: 7.08
• 1Y Price Target: $6.50
• Price Target Upside: 58.92% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 73 Outperform
• Price Target: $4.50 ▲(10.02% Upside)

BitFuFu's strong financial performance and positive earnings call are the most significant factors driving the score. Technical indicators support a bullish trend, while valuation remains reasonable. However, financial risks from leverage and cash flow challenges, along with dependence on Bitcoin market conditions, are notable concerns.

Positive Factors

Revenue Growth

The significant revenue growth indicates strong demand for BitFuFu's services and effective market positioning, supporting long-term business expansion.

Operational Efficiency

Improved cost efficiency enhances profitability and competitiveness, enabling BitFuFu to sustain growth even in fluctuating market conditions.

Mining Capacity Expansion

Expanding mining capacity strengthens BitFuFu's market position and supports its ability to capture more market share in the growing cryptocurrency mining industry.

Negative Factors

Dependence on Bitcoin Market

Heavy reliance on Bitcoin market conditions poses a risk to financial stability, as fluctuations in Bitcoin prices can significantly impact profitability.

Rising Leverage

Increasing leverage can strain financial resources and limit strategic flexibility, potentially affecting long-term financial health and growth.

Negative Cash Flows

Negative cash flows from operations indicate challenges in generating cash, which could hinder investment in growth opportunities and affect financial sustainability.

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

BitFuFu demonstrates strong revenue growth and improving operational margins, which are positive indicators for future profitability. However, rising leverage and negative free cash flows highlight potential financial risks. The company must focus on enhancing cash generation from operations while managing debt effectively to sustain growth.

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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	463.33M	284.11M	198.20M	103.04M	1.23M
Gross Profit	29.72M	12.71M	36.23M	9.03M	139.72K
EBITDA	92.69M	42.71M	22.45M	5.53M	18.80K
Net Income	53.96M	10.49M	2.44M	4.93M	-1.11M
Balance Sheet
Total Assets	377.68M	210.03M	69.61M	150.00K	1.38M
Cash, Cash Equivalents and Short-Term Investments	38.20M	32.01M	173.79K	75.00K	0.00
Total Debt	157.69M	2.38M	0.00	105.00K	0.00
Total Liabilities	215.22M	192.70M	2.81M	125.49K	1.47M
Stockholders Equity	162.46M	17.33M	66.79M	24.51K	-92.17K
Cash Flow
Free Cash Flow	-236.74M	-241.47M	-15.16M	180.31K	0.00
Operating Cash Flow	-219.87M	-195.97M	-484.81K	15.93M	0.00
Investing Cash Flow	167.93M	176.90M	-69.00M	-2.61M	0.00
Financing Cash Flow	65.05M	-9.35M	69.58M	0.00	0.00

BitFuFu Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.09
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FUFU, the sentiment is Positive. The current price of 4.09 is above the 20-day moving average (MA) of 3.83, above the 50-day MA of 3.79, and below the 200-day MA of 4.29, indicating a neutral trend. The MACD of 0.09 indicates Negative momentum. The RSI at 57.63 is Neutral, neither overbought nor oversold. The STOCH value of 67.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FUFU.

BitFuFu Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FUFU	73 Outperform	$667.11M	14.49	30.23%	―	39.84%	-10.81%
ACGP	64 Neutral	706.42M	13.18	0.00%	6.57%	54.17%	64.76%
BTBT	62 Neutral	973.94M	-8.80	6.11%	―	14.65%	-240.80%
WULF	58 Neutral	4.63B	-33.01	-75.56%	―	19.82%	-77.95%
CIFR	54 Neutral	4.87B	-27.95	-20.56%	―	0.11%	-914.42%
MFH	44 Neutral	713.57M	-108.85	-18.82%	―	125.92%	53.50%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

BitFuFu Corporate Events

BitFuFu Reports Decline in Revenue for First Half of 2025

On September 5, 2025, BitFuFu Inc. released its unaudited interim condensed consolidated financial statements for the six months ended June 30, 2025. The report highlights a decrease in total revenues to $193.4 million from $273.8 million in the same period of 2024, reflecting a challenging market environment. Despite the revenue drop, BitFuFu’s gross profit stood at $19.3 million, down from $32.7 million the previous year. The financial results indicate a need for strategic adjustments to maintain competitiveness in the volatile digital asset market.

BitFuFu Reports August 2025 Bitcoin Production Increase

In August 2025, BitFuFu Inc. reported an increase in its Bitcoin holdings to 1,899 BTC, marking an increase of 115 BTC from the previous month. The company also enhanced its mining efficiency by expanding its self-owned hashrate to 5.0 EH/s and improving fleet efficiency to 17.5 J/TH, driven by the adoption of more power-efficient ANTMINER S21 series machines. These developments underscore BitFuFu’s commitment to sustainable growth and operational efficiency, which are crucial for long-term value creation for stakeholders.

BitFuFu Reports Strong Q2 2025 Financial Results Amidst Growing Demand

On August 15, 2025, BitFuFu Inc. reported its unaudited financial results for the second quarter of 2025, showcasing significant growth in revenue and operational capacity. The company achieved a 47.9% increase in revenue quarter-over-quarter, reaching $115.4 million, driven by a surge in demand for cloud-mining solutions and strategic expansion of mining capacity. Despite challenges from the April 2024 Bitcoin halving and increased network difficulty, BitFuFu’s cloud-mining offerings remained competitive. The company reported a net income of $47.1 million, a substantial increase from the previous year, and an adjusted EBITDA of $60.7 million. Operational highlights included a 46.6% increase in total mining capacity and a 57.7% rise in cloud-mining registered users. These results reflect BitFuFu’s robust business model and its ability to capitalize on market opportunities, positioning it for long-term growth and value creation for shareholders.

BitFuFu Reports Record Bitcoin Production and Hashrate in July 2025

In July 2025, BitFuFu Inc. achieved a record hashrate of 38.6 EH/s and produced 467 BTC, marking a 4.9% increase from the previous month. The company’s self-mining output rose by 43.1%, highlighting the effectiveness of its dual-engine model. BitFuFu’s total power capacity reached 752 MW, and the company managed a total hashrate of 38.6 EH/s, with significant contributions from third-party suppliers and hosting customers. These developments, alongside supportive policy signals from Washington, bolster BitFuFu’s confidence in the long-term potential of the crypto mining industry.

BitFuFu Reports Record Bitcoin Production and Operational Growth in June 2025

In June 2025, BitFuFu Inc. achieved record operational milestones, with a 36.2 EH/s hashrate and 728 MW power capacity, marking an 11.3% increase in Bitcoin production to 445 BTC. This growth reflects BitFuFu’s strong operational momentum and effective scaling, enhancing its industry position and stakeholder value.