FUFU on Nasdaq
Bitfufu Inc.
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Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Revenue Recognized In Digital Assets Payment brought in 50% of the revenue Bitfufu Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue Recognized In Digital Assets Payment | $284.1M | $434.6M | $474.3M |
| Cloud Mining Solutions | $178.0M | $271.0M | $352.6M |
| Selfmining Revenue | $100.2M | $157.5M | $63.1M |
| Sale Of Mining Equipment | $30.5M | $53.7M | |
| Hosting Services And Others | $5.9M | $4.3M | $8.1M |
| Revenue Recognized In USDollars Payment | $28.7M | $3.3M |
Regions
Africa brought in 38% of the revenue Bitfufu Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| Africa | $3.2M | $8.4M | $158.6M |
| Asia | $31.1M | $91.9M | $108.3M |
| Oceania | $1.9M | $7.8M | $75.8M |
| North America | $99.0M | $155.7M | $64.4M |
| Others | $1.2M | $746.0K | $4.4M |
| Europe | $47.4M | $41.3M | $2.9M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue94¢$448.6M
- Research and development1¢$2.5M
- Other costs3¢$15.9M
- Interest2¢$8.6M
- Income tax0¢$1.9M
Out of $477.5M in revenue.2 The company lost money this year.
Financial statements
No quarterly figures reported.
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenues | $477.5M | $463.3M | $284.1M |
| Total cost of revenues | -$448.6M | -$433.6M | -$271.4M |
| Gross profit | $28.9M | $29.7M | $12.7M |
| Sales and marketing expenses | -$3.7M | -$7.5M | -$1.9M |
| General and administrative expenses | -$9.1M | -$25.3M | -$3.7M |
| Research and development expenses | -$2.5M | -$5.6M | -$1.7M |
| Credit loss provision for receivables | -$981.0K | -$100.0K | |
| Gain on sale of recovery rights on assets held by FTX | $7.3M | ||
| Impairment loss on digital assets | -$7.0M | ||
| Impairment loss on mining equipment | -$25.4M | -$8.1M | |
| Changes in fair value of digital asset receivables or payables | $1.2M | -$1.3M | |
| Changes in fair value of digital assets | -$8.7M | $76.9M | $18.2M |
| Loss on disposal of mining equipment | -$3.4M | ||
| Total operating (expenses)/income | -$52.7M | $36.5M | $3.9M |
| Operating (loss)/income | -$23.8M | $66.2M | $16.6M |
| Investment income | $462.0K | $416.0K | |
| Interest expense | -$8.6M | -$6.3M | -$5.5M |
| Interest income | $2.3M | $1.6M | $1.1M |
| Other income/(expense), net | $311.0K | -$277.0K | $587.0K |
| (Loss)/income before income taxes | -$29.3M | $61.6M | $12.7M |
| Income tax expense | $1.9M | $7.7M | $2.2M |
| Net (loss)/income and total comprehensive (loss)/income attributable to ordinary shareholders | -$31.1M | $54.0M | $10.5M |
| Less: Net income attributable to non-controlling interests | $110.0K | ||
| Total Comprehensive (loss)/income attributable to ordinary shareholders of the Company | -$31.3M | $54.0M | $10.5M |
| Ordinary shares - basic (in Shares) | 164.3M shares | 161.0M shares | 150.0M shares |
| Ordinary shares - diluted (in Shares) | 169.7M shares | 165.5M shares | 150.0M shares |
| Ordinary shares - basic (in Dollars per share) | -$0.19 | $0.34 | $0.07 |
| Ordinary shares - diluted (in Dollars per share) | -$0.18 | $0.33 | $0.07 |
No quarterly figures reported.
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2025-02-28 | 2024-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $27.8M | $38.2M | |
| Restricted cash and cash equivalents | $6.9M | ||
| Digital assets | $149.3M | $129.9M | |
| Digital asset collateral receivable | $24.1M | $12.6M | |
| Accounts receivable, net | $12.3M | $10.9M | |
| Prepayments | $26.0M | $21.7M | |
| Inventory | $145.0K | $246.0K | |
| Financial assets held for trading | $521.0K | ||
| Other current assets, net | $9.4M | $11.7M | |
| Total current assets | $324.5M | $265.3M | |
| Property and equipment, net | $20.7M | $56.0M | |
| Digital asset collateral receivable | $47.8M | ||
| Long term investment | $177.0K | ||
| Operating lease right of use assets, net | $436.0K | ||
| Goodwill | $4.2M | $4.2M | |
| Deferred tax assets, net | $7.5M | $8.6M | |
| Total non-current assets | $33.0M | $112.4M | |
| Total assets | $357.6M | $377.7M | |
| Accounts payables | $4.7M | $14.1M | |
| Contract liabilities | $50.6M | $15.8M | |
| Long term loan-current portion | $15.0M | ||
| Accrued expenses and other payables | $16.1M | $8.8M | |
| Obligation to return collateral digital assets | $3.3M | $21.4M | |
| Taxes payable | $1.8M | $2.2M | |
| Operating lease liabilities, current | $251.0K | ||
| Total current liabilities | $98.5M | $63.9M | |
| Long-term payable | $94.4M | $101.3M | |
| Long-term loans | $35.0M | ||
| Deferred tax liabilities, net | $14.9M | $15.1M | |
| Operating lease liabilities, non-current | $197.0K | ||
| Total non-current liabilities | $109.5M | $151.3M | |
| Total liabilities | $208.0M | $215.2M | |
| Ordinary shares ($0.0001 par value; 500,000,000 shares authorized; 166,613,948 and 163,106,615 shares issued and outstanding as of December 31, 2025 and 2024, respectively) | $17.0K | $16.0K | |
| Additional paid-in capital | $97.2M | $84.3M | |
| Non-controlling interest | $5.5M | ||
| Retained earnings | $46.9M | $78.2M | |
| Total shareholders equity | $149.6M | $162.5M | |
| Total liabilities and shareholders equity | $357.6M | $377.7M | |
| Ordinary shares, par value (in Dollars per share) | $0.00 | $0.00 | |
| Ordinary shares, shares authorized (in Shares) | 500.0M shares | 500.0M shares | |
| Ordinary shares, shares issued (in Shares) | 166.6M shares | 163.1M shares | |
| Ordinary shares, shares outstanding (in Shares) | 166.6M shares | 163.1M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net (loss)/income | -$31.1M | $54.0M | $10.5M |
| Net income received or to be received by digital assets | -$174.4M | -$195.7M | -$183.1M |
| Impairment loss on digital assets | $7.0M | ||
| Credit loss provision for receivables | $981.0K | $100.0K | |
| Gain on sale of recovery rights on assets held by FTX | -$7.3M | ||
| Loss on disposal of mining equipment | $3.4M | ||
| Impairment loss on mining equipment | $25.4M | $8.1M | |
| Changes in fair value of digital asset receivables or payables | -$1.2M | $1.3M | |
| Changes in fair value of digital assets | $8.7M | -$76.9M | -$18.2M |
| Depreciation of property and equipment | $28.0M | $24.7M | $24.5M |
| Amortization of right of use asset | $71.0K | ||
| Share-based compensation expense | $588.0K | $26.1M | |
| Deferred income tax | $934.0K | $6.8M | $4.2M |
| Earnings from equity method investments | -$177.0K | ||
| Prepayments | -$4.3M | -$4.6M | -$654.0K |
| Inventory | $102.0K | -$142.0K | |
| Amount due from / (due to) related parties | $33.1M | -$63.3M | -$36.9M |
| Deposit receivables | $2.7M | -$2.7M | |
| Other current assets | $1.8M | $3.4M | -$1.5M |
| Accounts payable | -$297.0K | $1.4M | $775.0K |
| Operating lease liabilities | -$60.0K | ||
| Taxes payable | -$437.0K | -$3.0K | -$2.9M |
| Accrued expenses and other payables | -$4.0M | -$394.0K | $3.0M |
| Net cash used in operating activities | -$112.9M | -$219.9M | -$196.0M |
| Proceeds from disposal of equipment | $673.0K | ||
| Proceeds from sales of digital assets | $127.1M | $184.8M | $222.4M |
| Purchase of digital assets | -$19.0M | -$16.8M | -$45.4M |
| Acquisition of a subsidiary, net of cash acquired | -$9.4M | ||
| Purchase of financial assets held for trading | -$521.0K | ||
| Purchases of equipment | -$9.1M | -$37.0K | -$68.0K |
| Net cash provided by investing activities | $89.8M | $167.9M | $176.9M |
| Proceeds from the issuance of ordinary shares | $5.7M | $75.2M | |
| Payment of issuance costs | -$10.1M | -$2.4M | |
| Repayment of long-term payables | -$7.0M | ||
| Net cash provided by /(used in) financing activities | $5.7M | $65.0M | -$9.4M |
| Net change in cash and cash equivalents | -$17.4M | $13.1M | -$28.4M |
| Cash paid for interest | $6.6M | $1.2M | $3.7M |
| Cash paid for income tax | $930.0K | $1.3M | |
| Net digital assets provided by operating activities | $145.1M | $258.4M | $212.9M |
| Net digital assets used in investing activities | -$98.8M | -$213.8M | -$177.0M |
| Issuance of ordinary shares for acquisition of a subsidiary | -$1.4M | ||
| Issuance of ordinary shares for purchase of equipment | -$5.1M | ||
| Repayment of long-term payables in digital assets | -$6.9M | ||
| (Repayment of) /Proceeds from long-term loans in digital assets | -$20.0M | $35.0M |
Recent filings
- Oct 13, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
- Sep 29, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
- Sep 10, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
- Sep 3, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
- Aug 17, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
- Aug 7, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
- Jul 10, 20266-K REPORT OF FOREIGN ISSUER
- Jul 1, 20264
- Jul 1, 20264
- Jul 1, 20264
- Jul 1, 20264
- Jul 1, 20264
- Jun 22, 20266-K REPORT OF FOREIGN ISSUER
- Jun 9, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
- May 29, 20266-K REPORT OF FOREIGN PRIVATE ISSUER
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARBitfufu Inc. filings on SEC EDGAR
- 2SEC EDGARBitfufu Inc. 10-K for fiscal 2025
- 3SEC EDGARBitfufu Inc. filings on SEC EDGAR
- 4SEC EDGARBitfufu Inc. 10-K for fiscal 2021
- 5SEC EDGARBitfufu Inc. 10-K for fiscal 2022