In June, Singapore-based Bitcoin miner BitFuFu marked its most productive month of the year, credited to an expanded mining operation. The firm reported it mined 445 Bitcoins, a significant 11.3% increase from previous months.
The breakdown of June’s production shows that 387 Bitcoins came from cloud mining operations, and 58 from self-mining efforts. The CEO, Leo Lu, attributed this milestone to the ongoing expansion of BitFuFu’s mining fleet.
Earlier this year, BitFuFu entered a substantial agreement with Bitmain to purchase up to 80,000 Bitcoin miners over two years. As a result, BitFuFu now holds 1,792 Bitcoins, valued at over $193 million. Comparatively, other leading firms like MARA Holdings own 50,000 Bitcoins, demonstrating the competitive scale in the industry.
The company’s hashrate saw a 6.2% month-over-month increase to 36.2 EH/s, primarily supplied by third-party providers. Additionally, their power capacity rose by 11.8%, reaching 728 megawatts globally.
Despite the market fluctuations, BitFuFu’s shares experienced a modest increase of 1.16%, closing at $3.48, as they continue to build on their strategic initiatives and operational growth.
- BitFuFu’s two-year agreement with Bitmain enhances production capacity.
- The firm holds significant Bitcoin reserves valued in millions.
- The increased hashrate and power highlight effective scaling strategies.
Amid the industry’s mixed performance in June, BitFuFu’s progress stands out, reflecting robust operational enhancements and strategic partnerships in the competitive Bitcoin mining landscape.
