BitFuFu, a Nasdaq-listed Bitcoin mining company, released its unaudited financial results for the first quarter ending March 31, 2026. According to Odaily, the company reported total quarterly revenue of $72.66 million, with cloud computing power business generating $57.5 million, accounting for approximately 79.1% of total revenue, continuing as the main income source. Self-mining business revenue reached $11.4 million, representing 15.7%, while hosting and other business revenues also saw growth.
Operationally, BitFuFu increased its total managed computing power to 25.9 EH/s, a year-on-year growth of 25.7%, and achieved a power capacity of 457MW. During the first quarter, the company optimized its mining fleet structure by disposing of outdated machines and advancing the deployment of new high-efficiency equipment, enhancing overall operational efficiency and cost competitiveness.
Financially, the company's adjusted EBITDA was negative $34.4 million, primarily impacted by a $35.6 million fair value loss due to the decline in Bitcoin prices. By the end of the quarter, BitFuFu held a total of $141.5 million in cash, cash equivalents, and digital assets, including 1,794 Bitcoins.
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