BitFuFu Shares Fall After Lower Bitcoin Prices Weigh on 1Q Results

Dow Jones

May 29

By Connor Hart

Shares of BitFuFu fell after the company widened its loss and logged lower revenue in the first quarter.

The stock slipped 15%, to $1.70, Friday, extending its more than 50% decline over the past year.

The bitcoin miner before the bell reported a loss of $35 million, compared with a loss of $16.9 million a year earlier.

The quarterly loss came out to 20 cents a share. Analysts polled by FactSet had expected earnings of three cents a share.

Revenue fell 6.8% to $72.7 million and missed Wall Street models for $93.3 million.

Chief Executive Leo Lu said lower bitcoin prices weighed on the recent-quarter's results through a fair value loss. BitFuFu was able to offset some of the pressure by staying disciplined with regards to cost, procurement and capital allocation, he added.

"Operationally, we continued improving fleet efficiency and optimizing our mining portfolio, including disposing of older-generation machines and managing our bitcoin position in line with our treasury strategy, as we work toward refreshing capacity over time with newer, more energy-efficient equipment," Lu said.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

May 29, 2026 10:18 ET (14:18 GMT)

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Analysts polled by FactSet had expected earnings of three cents a share. \n</p>\n<p>\n  Revenue fell 6.8% to $72.7 million and missed Wall Street models for $93.3 million. \n</p>\n<p>\n  Chief Executive Leo Lu said lower bitcoin prices weighed on the recent-quarter's results through a fair value loss. BitFuFu was able to offset some of the pressure by staying disciplined with regards to cost, procurement and capital allocation, he added. \n</p>\n<p>\n  \"Operationally, we continued improving fleet efficiency and optimizing our mining portfolio, including disposing of older-generation machines and managing our bitcoin position in line with our treasury strategy, as we work toward refreshing capacity over time with newer, more energy-efficient equipment,\" Lu said. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 29, 2026 10:18 ET (14:18 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4023","symbol_name":"应用软件","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2639731066","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2639731066","pubTimestamp":1780064280,"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 fell after the company widened its loss and logged lower revenue in the first quarter.The stock slipped 15%, to $1.70, Friday, extending its more than 50% decline over the past year.The bitcoin miner before the bell reported a loss of $35 million, compared with a loss of $16.9 million a year earlier.The quarterly loss came out to 20 cents a share. 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Analysts polled by FactSet had expected earnings of three cents a share. \n\n\n  Revenue fell 6.8% to $72.7 million and missed Wall Street models for $93.3 million. \n\n\n  Chief Executive Leo Lu said lower bitcoin prices weighed on the recent-quarter's results through a fair value loss. 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