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Edge28 Nov 2025
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BitFuFu (FUFU) investor relations material
BitFuFu Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary12 Nov, 2025
Executive summary
Q3 2025 revenue reached a record $180.7 million, doubling year-over-year and up 56.6% sequentially.
Net income improved to $11.6 million, reversing a $5 million loss in Q3 2024.
Adjusted EBITDA rose to $22.1 million from $5.8 million year-over-year.
Basic and diluted EPS were $0.07, up from a $0.03 loss per share last year.
Strong execution in cloud mining, expansion of self-mining fleet, and robust mining equipment sales drove results.
Financial highlights
Cloud mining revenue grew 78.4% year-over-year to $122.9 million, accounting for 68% of total revenue.
Mining equipment sales surged to $35.8 million, nearly 20% of total revenue, up from $0.3 million in Q3 2024.
Total costs were $173.5 million, up 94% year-over-year, in line with revenue growth.
Cash and digital assets totaled $254.8 million as of September 30, 2025, up 51.5% from December 2024.
Operating expenses dropped 52.6% to $3.1 million, mainly due to lower share-based compensation.
Outlook and guidance
Focus remains on operational execution, customer experience, and a strong year-end finish.
Plans to deepen cloud mining franchise, advance RWA cooperation, and progress natural gas pilots in Canada.
Continued expansion of partnerships and capacity, with disciplined capital allocation.
Management leverages a dual-engine model for resilience and profitability.
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Frequently asked questions
BitFuFu Inc. is a digital asset mining and cloud-mining service provider. The company offers a variety of mining solutions, including miner rental, hosting, and sales services. BitFuFu provides a secure and transparent blockchain infrastructure, catering to institutional customers and private individuals. The company is headquartered in Singapore, and its shares are listed on the NASDAQ.
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