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 Surpasses 520,000 Registered Cloud-Mining UsersGlobeNewswire
- BitFuFu Signs Long-Term Lease for Two Mining Facilities with 33 MW Capacity in the U.S.GlobeNewswire
- BitFuFu to Participate in The Microcap Conference in January 2025Accesswire
- BitFuFu Inc. (NASDAQ: FUFU) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $7.00 price target on the stock.MarketBeat
- BitFuFu Announces November 2024 Production and Mining Operations UpdateGlobeNewswire
FUFU
Sec Filings
- 12/6/24 - Form 424B3
- 12/6/24 - Form 6-K
- 11/15/24 - Form 424B3
- FUFU's page on the SEC website