BitFuFu September Bitcoin Output Slips to 167 BTC, Holdings Edge Up to 1,388

BitFuFu (NASDAQ: $FUFU) mined 167 bitcoin in September, 4% fewer than in August, and warned of a "material risk" that its proposed acquisition of an Ethiopian mining facility may not close, the Singapore-based miner said late Tuesday.

Total production included 98 Bitcoin (CRYPTO: $BTC) from self-mining, up from 88 in August, and 69 from cloud mining, down from 86. Daily output held steady at 5.6 bitcoin. The company's holdings rose by 15 bitcoin to 1,388 as of Sept. 30.

Hashrate under management slipped to 19.4 EH/s from 20.6 EH/s. Self-owned hashrate was unchanged at 3.8 EH/s, while capacity from third-party suppliers and hosting customers fell to 15.6 EH/s from 16.8 EH/s. Power capacity under management declined to 324 megawatts from 344 megawatts. Average fleet efficiency held at 16.7 joules per terahash.

The more consequential disclosure concerned Ethiopia. Under an agreement signed in October 2024, BitFuFu is seeking to acquire a majority stake in an Ethiopian company that operates an 80-megawatt mining facility. The deal has not closed, and not all of its conditions have been met or waived. BitFuFu has paid the sellers $4.1 million and deployed about 13,700 Bitmain Antminer S19 machines at the site, representing roughly 1.57 EH/s and a net book value of $1.74 million.