BitFuFu money don shift go cloud mining as self-mining drop 60%
Singapore-based Bitcoin miner BitFuFu tok say dem earn $475.8 million for 2025 (+2.7% YoY), but dia business mix don sharply shift go cloud mining. Dem self-mining output drop to 611 BTC from 2,537 BTC for 2024 (-76%), and self-mining revenue fall roughly 60% to $63.1 million. BitFuFu talk say na cause na na weaker Bitcoin earnings per terahash, higher mining difficulty, and lower allocation of hashrate to self-mining.
Cloud mining become di growth engine. For 2025, cloud mining make about 74% of BitFuFu revenue, rise to $350.6 million (from $271 million and 58.5% share in 2024). Total production reach 3,662 BTC, wey include 611 BTC from self-mining and 3,051 BTC from customer cloud-mining.
Di company also increase mining equipment sales by 76% YoY to $53.7 million and small grow im Bitcoin treasury to 1,778 BTC (+58 YoY). For 2026, BitFuFu plan to scale cloud mining, add hashrate and power capacity with discipline, and explore mining infrastructure acquisitions and partnerships.
Neutral
Dis message dey show pass say e be adjust of di mining company biznes model and cost/profit structure, no be direct hit to Bitcoin supply and demand. BitFuFu for 2025 don shift more hashrate and revenue focus from own mining go cloud mining because per-TH earnings don weak and mining difficulty don rise. For BTC price, own production drop plus cloud expansion mainly mean ‘‘who dey collect di mining earnings’’ don change, not an immediate change for market-level overall sell pressure or net buying. Short-term, if market read am as industry profit pressure, e fit raise worry about miners’ cashflow volatility and put small pressure on sentiment; but company also report say cloud mining demand share dey rise, showing funds still dey flow into mining exposure so effect dey partly hedged. Long-term, as long as mining competition and difficulty evolution stay within expectations, pricing impact on BTC more likely ‘‘indirect, sentiment-level’’. Considering timeline of both pieces (from overall operating data to own/cloud structure change), net impact on BTC lean neutral.