Bitcoin miner BitFuFu sold some of its Bitcoin holdings to help fund operations during a difficult second quarter that saw its revenue fall nearly 63%.
The company generated $42.8 million in revenue, which was below the $115.4 million it generated a year earlier. It also recorded a $20.5 million net loss, compared with a $47.1 million profit in the second quarter of 2025.
BitFuFu’s cloud-mining business takes a hit
Much of the decline that the company suffered came from cloud mining, which is a service that allows customers to rent mining capacity rather than operate their own machines.
The revenue fell 73.6% to $24.9 million as existing customers’ orders dropped, with customers using that service mining 255 BTC during the quarter, down from 917 BTC a year earlier.
The company blamed the weaker performance partly on lower Bitcoin prices and softer customer demand, and it also had less mining capacity under management than it did a year ago.
Chief executive Leo Lu described the quarter as “one of the more challenging operating environments our industry has experienced recently.”
BitFuFu’s cash and digital assets also declined from $177.1 million at the end of 2025 to $119.5 million in June.
Bitcoin sales help fund operations
The number of Bitcoin BitFuFu had at the end of the quarter also dropped, with 1,671 BTC recorded, which was a decline from the 1,792 BTC it had a year earlier.
The company confirmed that to cover operating costs and secure more mining capacity, it sold some BTC, but it did not disclose exactly how much BTC it sold.
BitFuFu also increased production from its own mining operations, as self-mined Bitcoin rose from 143 BTC to 192 BTC, while hosting and related revenue increased from $1.1 million to $3.9 million.
BitFuFu also recorded a $16.9 million loss as the value of its Bitcoin-related assets declined, but the quarter’s weakness went beyond Bitcoin’s price: its largest business generated a lot less revenue and customer activity.
Final Summary
- BitFuFu’s revenue fell 62.9%, led by a sharp contraction in its cloud-mining business.
- The miner sold Bitcoin to help fund operations while increasing its own mining production.
