BitFuFu Boosts Bitcoin Production to 174 BTC in August

BitFuFu's August production numbers are in and they're strong. The Singapore-based Bitcoin miner produced 174 BTC, up 55.4% from July's 112 BTC. This marks one of the company's strongest months on record.

The increase was driven by growth across both self-mining and cloud-mining segments. Average daily production rose to 5.6 BTC from 3.6 BTC in July.

BitFuFu broke down its August haul almost evenly between self-mining, which contributed 88 BTC, and cloud mining, which added 86 BTC. Total hashrate under management reached approximately 20.6 EH/s, a 45.1% increase from July's 14.2 EH/s.

The company's business model is closer to a mining infrastructure operator than a pure-play self-miner, with roughly 82% of its total managed hashrate belonging to external parties.