SINGAPORE, Jan. 06, 2025 — BitFuFu Inc. (NASDAQ: FUFU), a global leader in Bitcoin mining and comprehensive mining services, released its unaudited December 2024 production and mining operations report.

Key Highlights:

• Bitcoin Production: Self-mining yielded 111 Bitcoins (BTC), a 32% increase from November 2024.

• Bitcoin Holdings: Total BTC holdings reached 1,720 as of December 31, 2024.
• Cloud Mining Platform Growth: The platform now boasts over 590,000 registered users.
• Strategic Expansion: A two-year agreement with BITMAIN secures the purchase of up to 80,000 BITMAIN S-series miners.

BitFuFu’s Chairman and CEO, Leo Lu, stated that December’s results showcase strong operational momentum and strategic execution. The 32% rise in Bitcoin production reflects the company’s ability to optimize operations and adapt to market fluctuations. The BITMAIN agreement ensures continued hashrate growth, enhancing competitiveness. The cloud mining platform’s rapid user growth to over 590,000 underscores its broad appeal. These achievements solidify BitFuFu’s leadership in digital asset mining and services, laying a strong foundation for 2025 and beyond.

Bitcoin Production and Holdings

• BTC Held: 1,720 BTC¹ as of December 31, 2024.
• Self-Mining Production: 111 BTC, a 32% increase from November 2024.
• BTC Purchases: 32 BTC were acquired on the secondary market at an average price of $93,928 each.

Hashrate Expansion:

• Total Hashrate Under Management: 23.5EH/s as of December 31, 2024.
  
  • Self-Owned Hashrate: 3.1EH/s (27,970 miners).
  • Cloud-Mining and Co-Hosting: 20.4EH/s, (145,000 miners).

• New Miner Acquisition:
  • A two-year agreement with BITMAIN covers the acquisition of up to 80,000 S-series miners (S21 XP and S21 Pro models).
  • The November pre-order of 4,000 S21+ miners is finalized; delivery and activation are scheduled for April 2025 for self-mining or services based on capacity needs.

Power and Facilities:

• Current Power Under Management: 551 MW hosting capacity, including two facilities with a combined 113 MW power supply secured by the Company.
  • 80 MW in Ethiopia (hydropower, $0.036/kWh electricity cost).
  • 33 MW in the U.S. (grid power, $0.042/kWh electricity cost).
• Secured Power Growth: The company aims for 1GW of secured capacity by the end of 2026.

Mining Services:

• Cloud-Mining Growth: Registered users totaled 591,751 as of December 31, 2024.
• New Services: The private-label mining pool service, BitFuFuPool, launched in December 2024.

¹ This includes 633 BTC pledged for loans and miner procurement payables, excluding BTC produced by cloud-mining customers.

About BitFuFu Inc.

BitFuFu Inc. is a global leader in Bitcoin mining and comprehensive mining services, offering customers one-stop solutions, including cloud mining. With early investment and ongoing partnership from BITMAIN, a leading digital asset mining hardware manufacturer, BitFuFu is committed to a secure, compliant, and transparent blockchain infrastructure. It provides stable and intelligent digital asset mining solutions globally, leveraging its expanding mining facility network and strategic BITMAIN partnership to efficiently enable institutional and individual digital asset mining.

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Forward-Looking Statements

This press release contains forward-looking statements under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements, often including words like “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” or similar expressions, predict or indicate future events or trends. Statements that aren’t historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. These statements are based on assumptions (whether or not identified here) and the current expectations of BitFuFu’s management; they are not predictions of actual performance. These statements involve risks, uncertainties, and other factors that could significantly alter BitFuFu’s actual results, activity levels, performance, or achievements compared to what these forward-looking statements express or imply. While the Company believes its forward-looking statements have a reasonable basis, it cautions that these statements combine current facts and factors with future projections, which are inherently uncertain. All information here is current as of the release date; the Company doesn’t undertake to update this information unless required by applicable law.

For investor and media inquiries, please contact:
BitFuFu Investor Relations
 

BitFuFu Media Relations

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