BitFuFu sells Bitcoin for operations as revenue falls 63%

Bitcoin miner BitFuFu sold some of its Bitcoin holdings to help fund operations during a difficult second quarter that saw its revenue fall nearly 63%.

The company generated $42.8 million in revenue, which was below the $115.4 million it generated a year earlier. It also recorded a $20.5 million net loss, compared with a $47.1 million profit in the second quarter of 2025.

BitFuFu’s cloud-mining business takes a hit

Much of the decline that the company suffered came from cloud mining, which is a service that allows customers to rent mining capacity rather than operate their own machines.

The revenue fell 73.6% to $24.9 million as existing customers’ orders dropped, with customers using that service mining 255 BTC during the quarter, down from 917 BTC a year earlier.

The company blamed the weaker performance partly on lower Bitcoin prices and softer customer demand, and it also had less mining capacity under management than it did a year ago.

Chief executive Leo Lu described the quarter as “one of the more challenging operating environments our industry has experienced recently.”

BitFuFu’s cash and digital assets also declined from $177.1 million at the end of 2025 to $119.5 million in June.