Bitcoin miner BitFuFu sold some of its Bitcoin holdings to help fund operations during a difficult second quarter. Revenue fell nearly 63% to $42.8 million from $115.4 million a year earlier. The company posted a $20.5 million net loss, versus a $47.1 million profit in the second quarter of 2025. Its cloud-mining revenue dropped 73.6% to $24.9 million as customers mined 255 BTC, down from 917 BTC. BitFuFu ended June with 1,671 BTC and $119.5 million in cash and digital assets. It did not disclose the amount of BTC sold.
Bitcoin miner BitFuFu sold some of its Bitcoin holdings to fund operations after revenue fell nearly 63% in the second quarter. The company generated $42.8 million in revenue, below the $115.4 million it generated a year earlier, and recorded a $20.5 million net loss compared with a $47.1 million profit in the second quarter of 2025.
Much of the decline came from cloud mining, a service that allows customers to rent mining capacity. Cloud-mining revenue fell 73.6% to $24.9 million as existing customer orders dropped, with customers mining 255 BTC during the quarter versus 917 BTC a year earlier.
The company blamed the weaker performance partly on lower Bitcoin prices and softer customer demand, and it also had less mining capacity under management than a year ago. Chief executive Leo Lu described the quarter as “one of the more challenging operating environments our industry has experienced recently.”
BitFuFu’s cash and digital assets declined to $119.5 million in June from $177.1 million at the end of 2025. Its Bitcoin holdings fell to 1,671 BTC from 1,792 BTC a year earlier.
The company confirmed it sold some BTC to cover operating costs and secure more mining capacity but did not disclose how much it sold. Self-mined Bitcoin rose to 192 BTC from 143 BTC, while hosting and related revenue increased to $3.9 million from $1.1 million.
BitFuFu also recorded a $16.9 million loss as the value of its Bitcoin-related assets declined. The quarter’s weakness went beyond Bitcoin’s price, as its largest business generated a lot less revenue and customer activity.
