BitFuFu leans further into cloud mining as revenue mix shifts, profitability swings to loss
BitFuFu's revenue increased slightly in 2025, but the company experienced a net loss due to declining profitability and a shift towards cloud mining.Summary
BitFuFu reported $475.8 million in revenue for 2025, a 2.7% increase year-over-year, with cloud mining contributing the majority at $350.6 million. However, the company posted a net loss of $57.4 million compared to a $54 million profit in 2024, driven by bitcoin price volatility and impairment charges. BitFuFu strategically shifted hashrate towards cloud mining customers, resulting in a decline in revenue from self-mining operations, which fell from $157.5 million to $63.1 million. The average cost to mine bitcoin also increased to $77,573 per coin. This trend aligns with a broader industry shift, as miners explore diversification into AI and high-performance computing to leverage existing infrastructure and reduce reliance on bitcoin mining economics, exemplified by companies like CleanSpark, Core Scientific, and Bitfarms.
(Source：The Block)