BitFuFu Boosts Mining Capacity with Treasury Funds
Nasdaq-listed cloud-mining provider BitFuFu has scaled up its Bitcoin mining operations, using a portion of its BTC treasury to secure additional future mining capacity. The company produced 112 BTC in July, compared with 125 BTC in June, with production split between 72 BTC from self-mining and 40 BTC from cloud mining.
The average daily output reached 3.6 BTC during the month, but BitFuFu's Bitcoin holdings declined to 1,314 BTC from 1,671 BTC due to advance payments for new hashrate capacity scheduled to begin operating in August.
BitFuFu ended July with 14.2 EH/s in total managed hashrate, consisting of 3.6 EH/s of self-owned hashrate and 10.6 EH/s from external suppliers and hosting customers. The company expects new capacity additions to bring total managed hashrate back to roughly 20 EH/s by mid-August.