BitFuFu Q1 results show lower revenue and negative adjusted EBITDA as Bitcoin price weakness weighs on performance.
Stock Earnings Results
May 29, 2026
Table of Contents
May 29, 2026
BitFuFu Inc. (NASDAQ: FUFU) reported first-quarter 2026 results with lower revenue, a wider net loss, and negative adjusted EBITDA as lower Bitcoin prices weighed on mining economics and digital asset fair value.
BitFuFu is a Bitcoin mining and cloud mining company that provides cloud mining solutions, self-mining operations, hosting services, and mining infrastructure.
The company reported EPS of $0.01, below estimates of $0.03, representing a negative 66.7% earnings surprise. Revenue came in at $72.66 million, below estimates of $93.35 million, with revenue down 6.9%.
BitFuFu reported total revenue of $72.7 million in the first quarter, down from $78.0 million in the prior-year quarter.
The decline was mainly caused by lower self-mining revenue and no mining equipment sales, partially offset by growth in cloud mining solutions and hosting revenue.
Cloud Mining Solutions revenue increased 7.1% year-over-year to $57.5 million.
That represented about 79% of total revenue. The increase was driven by higher hashrate allocation for cloud mining contracts carried over from 2025, though lower Bitcoin prices and weaker market sentiment pressured average selling prices.
Self-mining revenue declined to $11.4 million from $17.6 million a year earlier.
The decline reflected higher network difficulty, lower average daily BTC earnings per terahash, and a lower average Bitcoin price during the quarter. BitFuFu said the average BTC price fell to $76,500 from $93,500 in the prior-year period.
Mining equipment sales were nil in the first quarter.
That compared with $6.0 million in the prior-year quarter. The company said the decline was driven by lower customer demand amid Bitcoin price uncertainty and weaker market sentiment.
BitFuFu reported a net loss of $35.0 million, compared with a net loss of $16.9 million in the same period of 2025.
Adjusted EBITDA was negative $34.4 million, compared with negative $10.8 million a year earlier. Results were heavily affected by a $35.6 million non-cash fair value loss tied to digital assets and digital asset receivables or payables.
Total hashrate increased 25.7% year-over-year to 25.9 EH/s as of March 31, 2026.
Power capacity was 457 MW, compared with 478 MW a year earlier. BitFuFu held 1,794 BTC as of quarter-end, down slightly from 1,835 BTC a year earlier.
BitFuFu ended the quarter with $141.5 million in combined cash, cash equivalents, and digital assets.
That was down from $177.1 million at the end of 2025, mainly due to the decline in the fair value of Bitcoin held during the quarter.
Investors are likely to watch whether BitFuFu can stabilize profitability if Bitcoin prices remain volatile.
The key areas are:
BitFuFu’s quarter showed the pressure that lower Bitcoin prices can place on crypto mining businesses.
Cloud mining revenue grew, hashrate expanded, and hosting revenue improved, but lower Bitcoin prices, higher mining difficulty, weaker equipment demand, and fair value losses weighed heavily on results.
Platforms like LevelFields track earnings beats, layoffs, dividend increases, leadership changes, and stock reactions together, helping investors identify when crypto mining stocks are moving on operational execution versus Bitcoin-driven volatility.
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