BitFuFu Q1 Revenue Drops 6.8% to $72.7 M as Loss Widens to $35 M
FUFU•BitFuFu’s Q1 2026 revenue fell 6.8% to $72.7 million and net loss widened to $35 million from $16.9 million, driven by a $35.6 million Bitcoin fair value loss and zero mining equipment sales. Cloud Mining Solutions generated $57.5 million while hashrate grew 25.7% to 25.9 EH/s and cash plus digital assets fell to $141.5 million.
1. First Quarter Financial Results
BitFuFu reported total revenue of $72.7 million in Q1 2026, down 6.8% from $78.0 million a year earlier, and a net loss of $35.0 million versus a $16.9 million loss, with adjusted EBITDA at negative $34.4 million due to a $35.6 million Bitcoin fair value loss.
2. Revenue Segment Details
Cloud Mining Solutions generated $57.5 million (79.1% of total revenue), up 7.1% year-over-year, while self-mining operations revenue declined to $11.4 million from $17.6 million, equipment sales fell to zero from $6.0 million, and hosting and other revenue rose to $3.8 million.
3. Operational and Liquidity Metrics
Total hashrate under management increased 25.7% to 25.9 EH/s and power capacity stood at 457 MW. Bitcoin holdings were 1,794 BTC versus 1,835 BTC a year earlier, and combined cash and digital assets decreased to $141.5 million.
4. Management Commentary
The company emphasized disciplined cost control, expanded hashrate through its dual-engine model, optimized fleet efficiency by retiring older equipment, and maintained 1,794 BTC to preserve flexibility for future investments.
