BitFuFu (FUFU) AI Stock Analysis

• Market Cap: $471.38M
• Dividend Yield: N/A
• Average Volume (3M): 359.09K
• Price to Earnings (P/E): 7.6
• Beta (1Y): 0.94
• 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: 28,106,615
• 10 Day Avg. Volume: 697,265
• 30 Day Avg. Volume: 359,088
• 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: 1.22
• Enterprise Value/Revenue: 1.21
• Enterprise Value/Gross Profit: 25.43
• Enterprise Value/Ebitda: 7.39
• 1Y Price Target: $6.17
• Price Target Upside: 134.60% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 0.25
• Revenue Forecast (FY): $484.20M

• Rating: 66 Neutral
• Price Target: $3.50 ▲(33.08% Upside)

BitFuFu's overall stock score is driven by strong earnings performance and strategic growth initiatives, as highlighted in the earnings call. Despite financial performance concerns such as rising leverage and negative cash flows, the company's valuation suggests potential upside. However, technical indicators point to a bearish trend, which may pose short-term risks.

Positive Factors

Revenue Growth

BitFuFu's significant revenue growth of 100.1% YoY in Q3 2025 indicates strong demand for its cloud-mining solutions and strategic expansion, which enhances its market position and supports long-term profitability.

Business Model Strength

The dual-engine model allows BitFuFu to manage volatility and sustain profitability, providing resilience against market fluctuations and supporting long-term growth.

Operational Efficiency

Improved cost efficiency in mining operations enhances profitability and competitiveness, allowing BitFuFu to maintain a strong market position and invest in future growth.

Negative Factors

Rising Leverage

Increasing leverage can strain financial flexibility and cash flow, posing risks to BitFuFu's ability to invest in growth and manage economic downturns effectively.

Negative Cash Flow

Negative cash flow from operations indicates challenges in generating cash, potentially limiting BitFuFu's ability to fund growth initiatives and meet financial obligations.

Dependence on Bitcoin Market

Heavy reliance on Bitcoin market conditions exposes BitFuFu to volatility, which can impact revenue stability and profitability, posing a risk to long-term business sustainability.

BitFuFu Business Overview & Revenue Model

Company Description

BitFuFu (FUFU) is a leading technology company operating within the cryptocurrency mining industry. The company provides cloud mining services, allowing users to mine cryptocurrencies without the need for physical mining equipment. BitFuFu's core offering involves renting out computational power from its mining farms to individual and institutional customers globally. This enables clients to participate in cryptocurrency mining efficiently and cost-effectively, leveraging BitFuFu's state-of-the-art infrastructure and expertise.

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 remarkable 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	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	473.27M	463.33M	284.11M	198.20M	103.04M	1.23M
Gross Profit	22.56M	29.72M	12.71M	36.23M	9.03M	139.72K
EBITDA	77.61M	92.69M	42.71M	22.45M	5.53M	0.00
Net Income	64.13M	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	254.78M	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: 2.63
• 50DMA: Negative
• 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 2.63 is below the 20-day moving average (MA) of 3.21, below the 50-day MA of 3.55, and below the 200-day MA of 3.87, indicating a bearish trend. The MACD of -0.21 indicates Positive momentum. The RSI at 34.53 is Neutral, neither overbought nor oversold. The STOCH value of 18.87 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
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
FUFU	66 Neutral	$471.38M	7.59	38.27%	―	29.96%	66.09%
BTBT	65 Neutral	$699.14M	5.57	22.44%	―	9.52%	496.04%
BTM	61 Neutral	$121.67M	13.89	1375.23%	―	8.60%	―
BTCS	47 Neutral	$130.68M	3.65	43.45%	1.85%	482.50%	82.04%
ABTC	41 Neutral	$4.39B	-6.11	-2.75%	―	―	―
ARBK	38 Underperform	$20.54M	-0.35	―	―	-13.86%	-32.19%

BitFuFu Corporate Events

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.

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.

BitFuFu Reports Increased Bitcoin Holdings and Operational Updates for September 2025

In September 2025, BitFuFu Inc. reported an increase in its Bitcoin holdings to 1,959 BTC, up by 60 BTC from the previous month. The company achieved this through efficient self-mining and strategic Bitcoin purchases, despite a decline in production due to increased network difficulty and power curtailment. The total hashrate under management rose by 1.1% to 36 EH/s, while the total power capacity decreased slightly by 0.6%. These operational updates reflect BitFuFu’s ongoing efforts to enhance its market position and optimize its mining operations.

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.