BitFuFu (FUFU) Lytham Partners Spring 2025 Investor Conference summary

Business overview and unique value proposition

• Operates as a global cloud and self-mining Bitcoin platform, making mining accessible without upfront costs.

• Holds the top position in cloud mining with over 600,000 registered users and 28.3 exahash computing power as of April 2025.

• Proprietary technology enables real-time allocation between self-mining and cloud mining, optimizing for market conditions.

• Cloud mining accounted for over 50% of total revenues in 2023 and early 2024, providing revenue stability.

• Offers full transparency and real-time monitoring for customers, with a guaranteed 95% uptime.

Growth, profitability, and operational strategy

• Profitable every year since founding in late 2020, with 65% CAGR in revenue and 173% CAGR in EBITDA over four years.

• Expanded from an asset-light model to acquiring and controlling data centers, now directly controlling 164 MW of 566 MW global capacity.

• Targets 650–800 MW capacity and 33 exahash by end of 2025, aiming for 1 GW by end of 2026.

• Pipeline includes 700–800 MW under evaluation, with a mix of greenfield and brownfield projects.

• Lowered all-in electricity costs to as low as $0.03/kWh at owned sites, improving margins and cash flow.

Service expansion and customer offerings

• Added hosting, proprietary mining pool with lowest industry fees, and a custom mining rig operating system for optimization.

• Mining rig sales reached $30 million in Q4 2024, with continued demand expected through 2026.

• Strategic partnership with BITMAIN secures long-term hosting and access to 80,000 new ASIC rigs on favorable terms.

• Full-service model includes miner sales, leasing, hosting, and real-time fleet management.

• Over 612,000 cloud mining users as of April 2025, with significant growth outside the U.S. and plans to enter the U.S. market.