BitFuFu Q3 Earnings Beat Estimates, Revenues Up Y/Y, Shares Up

BitFufu FUFU reported third-quarter 2025 earnings of 6 cents per share, which comfortably beat the Zacks Consensus Estimate of 3 cents per share. 

Including unrealized gain of $3.1 million from the increase in the price of bitcoin, BitFuFu reported earnings of 7 cents per share (net income of $11.6 million). The company reported a loss of 3 cents per share in the year-ago quarter.

Revenues increased 100.1% year over year to $180.7 million, surpassing the Zacks Consensus Estimate by 39.84%. Sequentially, revenues increased 56.6%. This growth was primarily driven by strong demand from customers for cloud-mining solutions and mining equipment, and continued expansion of mining capacity.

FUFU shares have risen 1.37 % in pre-market trading.

BitFuFu Inc. Price, Consensus and EPS Surprise

BitFuFu Inc. price-consensus-eps-surprise-chart | BitFuFu Inc. Quote

FUFU Q3 Segmental Details

Cloud mining solutions (68% of total revenues) increased 78.4% year over year to $122.9 million. The year-over-year increase was due to rising demand for cloud mining, repeat purchases from existing and new customers, and expansion of managed hash rate and power capacity.

Self-mining operations (11.1% of total revenues) decreased 2.2% year over year to $20.1 million. The year-over-year decline can be attributed to higher blockchain difficulty, which reduced BTC per tera-hash by 33%, and a 23% lower self-mining hash rate, partly offset by an 87.5% surge in BTC price to $114,500.

Mining equipment sales (19.8% of total revenues) to $35.8 million. The company reported $0.3 million in sales in this segment in the year-ago quarter. The growth can be attributed to strong mining demand, rising Bitcoin prices, and strategic partnerships expanding sales and opportunities. 

In the third quarter of 2025, other revenues accounted for $1.9 million, contributing 1.1% to total revenues.

BitFuFu produced 1,207 Bitcoins during the reported quarter, with 174 from self-mining and 1,033 from client cloud mining activities. New customers accounted for 33% of cloud mining revenues, while existing customers contributed 67%, showcasing strong customer retention with a net dollar retention rate of nearly 120%.

Operational Highlights of Q3 2025

As of Sept. 30, 2025, the total mining capacity was 36.0 EH/s, up 37.4% from 26.2 EH/s on Sept. 30, 2024.

As of Sept. 30, 2025, the hosting capacity was 624 MW, up from 556 MW on Sept. 30, 2024. 

As of Sept. 30, 2025, there were 641,526 registered cloud-mining users, up 40.8% from 455,764 as of Sept. 30, 2024. 

As of Sept. 30, 2025, the company’s Bitcoin holdings grew 19.8% to 1,962 BTC from 1,638 BTC as of Sept. 30, 2024.

FUFU Q3 Operating Details

In the third quarter of 2025, general and administrative expenses totaled $1.9 million, sales and marketing expenses were $0.6 million, and research and development expenses amounted to $0.6 million. Together, these expenses saw a combined reduction of 52.6% from $6.5 million in the year-ago quarter.

The operating income for the third quarter of 2025 totaled $14.1 million compared to an operating loss of $3.95 million in the year-ago quarter.

Net income was $11.56 million, marking a significant rise from negative $5.0 million a year ago.

Adjusted EBITDA was $22.1 million compared with $5.8 million in the year-ago quarter.

FUFU Balance Sheet Details

As of Sept. 30, 2025, FUFU had cash and cash equivalents of $32.6 million compared with $40 million as of June 30, 2025.

Zacks Rank & Other Stocks to Consider

FUFU currently carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the broader Zacks Finance sector are StoneX Group SNEX, Sofi Technologies SOFI and Rithm Capital Corp. ( RITM, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for StoneX group fiscal 2025 earnings is pegged at $5.90 per share, implying year-over-year growth of 11.11%. SNEX shares have gained 37.9 % in the year-to-date period.

The Zacks Consensus Estimate for Sofi Technologies full-year 2025 earnings is pegged at 36 cents per share, indicating a year-over-year increase of 140%. SOFI shares have gained 109% in the year-to-date period.

The Zacks Consensus Estimate for Rithm Capital’s full-year 2025 earnings is pegged at $2.15 per share, indicating a year-over-year increase of 2.38%. RITM shares have risen 3.8% year to date.

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This article originally published on Zacks Investment Research (zacks.com).

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