BitFuFu Restores Mining Capacity as Second-Quarter Revenue Falls 63%

BitFuFu restored much of its managed Bitcoin-mining capacity in August, but the rebound followed a difficult second quarter marked by sharply lower revenue and a net loss.

The company’s managed hashrate reached 20.6 exahashes per second as of Aug. 31, up 45.1% from 14.2 EH/s a month earlier. BitFuFu produced 174 Bitcoin (BTC) during August, consisting of 88 BTC from self-mining and 86 BTC from cloud mining. Production increased 55.4% month over month.

Fleet efficiency also improved. BitFuFu used 16.7 joules per terahash in August, compared with 18.0 J/TH in July, indicating that less electricity was required for each unit of computing power.

The August recovery came after managed hashrate stood at 15.3 EH/s on June 30, down 57.7% from 36.2 EH/s a year earlier. Second-quarter revenue fell to $42.8 million from $115.4 million in the same quarter of 2025, while the company recorded a $20.5 million net loss. BitFuFu had posted $47.1 million in net income a year earlier.

The company linked the weaker quarter to a 27.5% year-over-year decline in Bitcoin’s price, softer demand for cloud-mining services and deliberate optimization of its deployed hashrate. A $16.9 million fair-value loss also affected adjusted EBITDA.

“August demonstrated the strength of the operating platform we have been building over the past several months,” said Leo Lu, chairman and CEO of BitFuFu.

Lu said the second-quarter results reflected one of the more challenging operating environments for the industry but did not change the company’s confidence in its long-term opportunity.