BitFuFu Sees Q2 Revenue Plunge 62.9% to $42.8 Million

BitFuFu's Q2 revenue has dropped significantly to $42.8 million, a decline of 62.9% year over year.

The company attributed this drop to lower selling prices, softer market sentiment, and reduced order volumes from existing customers in its cloud mining solutions business.

In contrast, self-mining revenue was more resilient, declining by only $0.8 million from the same period last year.

BitFuFu's average Bitcoin price for the quarter was $71,600, down 27.5% from the previous year.