BitFuFu Shares Jump 22% After 2024 Revenue Surges on Cloud-Mining Business

Dow Jones

03-26

By Sabela Ojea

Shares of BitFuFu jumped Tuesday after the company reported that revenue surged in 2024, mostly driven by its cloud-mining solutions and Bitcoin self-mining businesses.

The stock was up 22% at $5.45 in midday trading, on pace for the largest percent increase since June 25, 2024, when it rose 29%. Shares are up around 13% over the past 12 months.

The Singapore cloud-mining bitcoin platform posted revenue of $463.3 million for 2024 after seeing its cloud-mining solutions' topline performance rise 52% to $271 million and its Bitcoin self-mining operations surge 52% to $157.5 million. This compares with reported revenue of $284.1 million for 2023.

BitFuFu, which now has 164 MW of secured capacity and seeks to add 1 GW of incremental capacity by the end of 2026, said its cloud-mining business continued to gain strong traction, finishing 2024 with nearly 600,000 registered users--almost double the total at the end of 2023.

By the end of 2025, the company expects its mining capacity to reach around 33 EH/s and its hosting capacity to be in the range of 650 MW to 800 MW.

"Looking ahead, we are well-positioned for another year of revenue growth," Chief Executive Leo Lu said, adding that the company plans to further optimize its cost structure through the acquisition of data centers with competitive electricity pricing.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

March 25, 2025 12:48 ET (16:48 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Shares are up around 13% over the past 12 months. \n</p>\n<p>\n  The Singapore cloud-mining bitcoin platform posted revenue of $463.3 million for 2024 after seeing its cloud-mining solutions' topline performance rise 52% to $271 million and its Bitcoin self-mining operations surge 52% to $157.5 million. This compares with reported revenue of $284.1 million for 2023. \n</p>\n<p>\n  BitFuFu, which now has 164 MW of secured capacity and seeks to add 1 GW of incremental capacity by the end of 2026, said its cloud-mining business continued to gain strong traction, finishing 2024 with nearly 600,000 registered users--almost double the total at the end of 2023. \n</p>\n<p>\n  By the end of 2025, the company expects its mining capacity to reach around 33 EH/s and its hosting capacity to be in the range of 650 MW to 800 MW. \n</p>\n<p>\n  \"Looking ahead, we are well-positioned for another year of revenue growth,\" Chief Executive Leo Lu said, adding that the company plans to further optimize its cost structure through the acquisition of data centers with competitive electricity pricing. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 25, 2025 12:48 ET (16:48 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BitFuFu Shares Jump 22% After 2024 Revenue Surges on Cloud-Mining Business</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitFuFu Shares Jump 22% After 2024 Revenue Surges on Cloud-Mining Business\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2025-03-26 00:48</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Sabela Ojea \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of BitFuFu jumped Tuesday after the company reported that revenue surged in 2024, mostly driven by its cloud-mining solutions and Bitcoin self-mining businesses. \n</p>\n<p>\n  The stock was up 22% at $5.45 in midday trading, on pace for the largest percent increase since June 25, 2024, when it rose 29%. Shares are up around 13% over the past 12 months. \n</p>\n<p>\n  The Singapore cloud-mining bitcoin platform posted revenue of $463.3 million for 2024 after seeing its cloud-mining solutions' topline performance rise 52% to $271 million and its Bitcoin self-mining operations surge 52% to $157.5 million. This compares with reported revenue of $284.1 million for 2023. \n</p>\n<p>\n  BitFuFu, which now has 164 MW of secured capacity and seeks to add 1 GW of incremental capacity by the end of 2026, said its cloud-mining business continued to gain strong traction, finishing 2024 with nearly 600,000 registered users--almost double the total at the end of 2023. \n</p>\n<p>\n  By the end of 2025, the company expects its mining capacity to reach around 33 EH/s and its hosting capacity to be in the range of 650 MW to 800 MW. \n</p>\n<p>\n  \"Looking ahead, we are well-positioned for another year of revenue growth,\" Chief Executive Leo Lu said, adding that the company plans to further optimize its cost structure through the acquisition of data centers with competitive electricity pricing. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 25, 2025 12:48 ET (16:48 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FUFU","symbol_name":"BITFUFU INC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2522070790","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2522070790","pubTimestamp":1742921280,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of BitFuFu jumped Tuesday after the company reported that revenue surged in 2024, mostly driven by its cloud-mining solutions and Bitcoin self-mining businesses.The stock was up 22% at $5.45 in midday trading, on pace for the largest percent increase since June 25, 2024, when it rose 29%. 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This compares with reported revenue of $284.1 million for 2023.BitFuFu, which now has 164 MW of secured capacity and seeks to add 1 GW of incremental capacity by the end of 2026, said its cloud-mining business continued to gain strong traction, finishing 2024 with nearly 600,000 registered users--almost double the total at the end of 2023.\"Looking ahead, we are well-positioned for another year of revenue growth","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"FUFU":"BITFUFU INC"},"translate_title":"2024年云挖矿业务收入激增后，BitFuFu股价上涨22%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FUFU":0.9},"content_text":"By Sabela Ojea \n\n\n \n\n\n  Shares of BitFuFu jumped Tuesday after the company reported that revenue surged in 2024, mostly driven by its cloud-mining solutions and Bitcoin self-mining businesses. \n\n\n  The stock was up 22% at $5.45 in midday trading, on pace for the largest percent increase since June 25, 2024, when it rose 29%. Shares are up around 13% over the past 12 months. \n\n\n  The Singapore cloud-mining bitcoin platform posted revenue of $463.3 million for 2024 after seeing its cloud-mining solutions' topline performance rise 52% to $271 million and its Bitcoin self-mining operations surge 52% to $157.5 million. 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