BitFuFu, the Singapore-based Bitcoin miner, reported total revenue of $475.8 million for 2025, a 2.7% increase compared to the previous year. The results reveal a significant shift in the company’s business composition, with cloud mining emerging as the dominant revenue stream. The figures highlight how the firm has deliberately restructured its operations over the past year.
Cloud mining revenue reached $350.6 million in 2025, representing approximately 74% of total revenues. This marks a notable increase from 2024, when cloud mining accounted for 58.5% of revenue and generated $271 million. The segment’s growth reflects a strategic decision by the company to redirect hashrate away from self-mining toward cloud-based products.
Self-mining activity declined sharply during the period, with the company’s own Bitcoin output falling 76% to 611 BTC from 2,537 BTC in 2024. Revenue from self-mining dropped roughly 60% to $63.1 million, down from $157.5 million the prior year. BitFuFu attributed the decline to a 52% fall in daily Bitcoin earnings per terahash, higher mining difficulty, and a 47% reduction in hashrate allocated to self-mining operations.
Despite the drop in self-mining output, BitFuFu’s total combined annual production across self-mining and customer cloud-mining activity reached 3,662 BTC. This figure includes 611 BTC from the company’s own operations and 3,051 BTC produced by cloud-mining customers. Rising Bitcoin prices partially offset the financial impact of reduced self-mining performance.
The company stated that the reallocation of hashrate from self-mining to cloud mining was intended to improve capital efficiency and make revenue more predictable. BitFuFu also reported a 76% year-over-year increase in mining equipment sales, which totaled $53.7 million in 2025. Its Bitcoin holdings edged up modestly to 1,778 BTC from 1,720 BTC at the end of 2024.
Looking ahead, BitFuFu expressed a commitment to expanding its Bitcoin treasury in 2026, despite adding only 58 BTC to its holdings last year. In a statement posted on X, the company said it plans to scale its cloud mining business, expand hashrate and power capacity, and continue building its BTC reserves. CEO Leo Lu indicated the company will prioritize acquiring mining infrastructure and will continue evaluating potential partnership opportunities as part of a broader vertical integration strategy.
Originally reported by CoinTelegraph.
