BitFuFu: Cloud Mining Is Powering Growth [Seeking Alpha]
BitFuFu Inc. (FUFU)
Company Research
Source: Seeking Alpha
Play 10min Summary BitFuFu is a Bitcoin miner with strong roots in cloud mining and a CEO who headed the cloud mining division at BITMAIN for several years. Cloud mining is an advantageous business model for BitFuFu because it provides ongoing working capital for the company. Q2 unaudited financial results show a 69.7% YoY growth in total sales and 66.8% YoY growth in cloud mining sales. BitFuFu's revenue has grown at an impressive ~66% CAGR, and the Bitcoin miner is on track to maintain or surpass that growth rate for fiscal year 2024. J Studios/DigitalVision via Getty Images I initiated coverage on BitFuFu ( NASDAQ: FUFU ) in June. That article, titled: BitFuFu: The Lesser-Known Bitcoin Miner With Growth Potentials , was the first coverage of the stock here on Seeking Alpha. I went into detail about the company's business model and operations, and the Q1 financial results in that coverage. Seeking Alpha Following my initial coverage on June 6 at a stock price of
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FUFU
News
- BitFuFu Announces Changes in Board of DirectorsGlobeNewswire
- Is BitFuFu Inc. (FUFU) the Best Cryptocurrency Stock to Buy According to Wall Street? [Yahoo! Finance]Yahoo! Finance
- BitFuFu Secures $100 Million Credit Line From Antpool TechnologiesGlobeNewswire
- BitFuFu Awarded Best Technology Solution Provider for Digital Assets – CloudGlobeNewswire
- BitFuFu Inc. (NASDAQ: FUFU) is now covered by analysts at HC Wainwright. They set a "buy" rating and a $7.00 price target on the stock.MarketBeat
FUFU
Analyst Actions
- 11/6/24 - HC Wainwright
FUFU
Sec Filings
- 11/15/24 - Form 424B3
- 11/15/24 - Form 6-K
- 11/14/24 - Form SC
- FUFU's page on the SEC website