Jones Trading Puts Its Weight Behind Cloud Mining Stock BitFuFu

Jones Trading has initiated coverage on BitFuFu Inc. with a Buy rating and a price target of $3.00. The stock currently trades at $1.45, representing potential upside of over 100% to the analyst’s target.

The company offers cloud mining services to retail and institutional customers, separating revenue from volatility according to Jones Trading. BitFuFu generated $399.51 million in revenue over the last twelve months with a lean gross profit margin of 7.39%. Analysts predict the company will be profitable this year with forecasted earnings of $0.08 per share for fiscal 2026.

Jones Trading cited the cloud mining business model and potential for expanding addressable markets as factors supporting the rating, along with Bitcoin appreciation opportunity. The firm described its $3 price target as conservative based on these factors.