BroadChain has learned that BitFuFu (NASDAQ: FUFU), the Bitmain-affiliated company listed on Nasdaq, released its full-year 2025 financial results on March 21. The report shows the company achieved annual revenue of $476 million, a year-on-year increase of 2.7%.
A breakdown of revenue by business segment reveals:
- Cloud Hashrate: $350.6 million, constituting 73.7% of total revenue and marking a 29.4% year-on-year increase.
- In-house Mining: $63.1 million, accounting for 13.3% of total revenue. This represents a significant decline from the $157.5 million reported in 2024.
- Miner Sales: $53.7 million, making up 11.3% of total revenue, up from $30.5 million in 2024.
- Other Businesses (e.g., hosting): $8.4 million, contributing 1.7% of total revenue, an increase from $4.3 million in 2024.
On profitability, the company posted a net loss of $57.4 million for the full year, a stark contrast to the net profit of $54 million recorded in 2024.
Key operational metrics for the year include:
- Total hashrate rising to 26.1 EH/s, an 11.1% increase year-on-year.
- Cloud hashrate users growing to 676,000, up 14.2% year-on-year.
- BTC holdings of 1,778 as of December 31, 2025.
Regarding mining costs, the average cost to mine one BTC in 2025 was $77,573, significantly higher than the $47,496 per BTC cost in 2024. A closer look shows:
- Cost for in-house mining: approximately $61,000 per BTC.
- Cost for leased hashrate: approximately $98,000 per BTC.